The price of chili in Quang Ngai province is increasing sharply, ranging from 65,000 to 72,000 VND/kg, 10 times higher than last year. For more than half a month, farmers in many central provinces, such as Quang Nam and Quang Ngai, have been entering the chili harvest. In Quang Ngai, the current price of chili is from 65,000 to 72,000 VND/kg, making many farmers happy.
Currently, the price of chili in Quang Ngai is fluctuating between 65,000 and 72,000 VND/kg.
Mrs. Tran Thi Tham, Tinh An commune, Quang Ngai city, said that a few years ago, the highest price for chili was only 40,000 VND/kg, but this year, for the first time, she has seen the price rise to 72,000 VND/kg. “My family has harvested 500 kg of chili, and traders bought it at 70,000 VND/kg. I hope that by the end of the season, the price remains high so that farmers can make a profit,” Mrs. Tham said.
This year, the unfavorable weather has caused chili plants to grow slowly, with many areas affected by pests. It leads to a decrease in both yield and production. However, the high price of chili at the beginning of the season has reduced the losses for many farmers.
According to traders, the reason for the high chili prices is the strong demand from the Chinese market. They predict that in the coming time, when the harvest peaks, the price may decrease.
“Every day, I buy about 10-15 tons of chili. Prices and quantities both depend on the Chinese market. This time, the Chinese market has a high demand for chili imports, which is why the prices are so high. The current high price of chili is only temporary,” said Mrs. Pham Thi Thuy, a trader in Quang Ngai.
Quang Ngai province is one of the localities with the largest chili-growing area in the country, with a total area of about 1,000 hectares. Chili here heavily depends on the Chinese market. Every year, if the Chinese market consumes much, the price of chili can increase suddenly. Otherwise, farmers have to face heavy losses.