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Vietnamese coffee and pepper prices increased rapidly, continuously setting new records

Whole Black Peppercorn
Published Feb 23, 2024

Tridge summary

Vietnam is experiencing a surge in pepper and coffee prices due to a decrease in cultivated area and low output. Pepper prices have hit a three-year high, benefiting farmers with over 50% profit, despite a 40-50% reduction in pepper cultivation as farmers shift to durian farming. The International Pepper Association forecasts a global decline in pepper production in 2024, largely due to Vietnam's situation. Similarly, coffee prices are at record highs due to a limited supply of Robusta coffee in Vietnam and increased demand from Europe.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Cultivated area decreased and output was low, so coffee and pepper prices continuously increased Vietnamese pepper is in harvest season but prices are continuously increasing. On February 22, pepper prices were recorded at around 90,000 VND/kg, 1,500 - 2,000 VND/kg higher than the previous day and up about 50% over the same period last year. This is also the highest price area for this type of agricultural product in the past 3 years. Mr. Dang Duong Minh Hoang - owner of a 50-hectare farm growing rubber, avocado, and pepper in Bu Gia Map district, Binh Phuoc province - said that with the current pepper price of 90,000 VND/kg, farmers profit more than 50%. . If farmers cultivate organically and reduce costs, profits are even better. However, the pepper area around Mr. Hoang's area has decreased by 40-50% because people switched to durian and did not replant when the pepper garden became old and diseased. This is also one of the reasons why pepper prices increase. According to data ...
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