How to create paragraphs item programmatically?
Yes, That was for adding the value in existing paragraph item. If you want to create new paragraph item with new value try this code.

$node = node_load(...);

$paragraph = new ParagraphsItemEntity(array('field_name' =&gt; 'name_of_field_in_node', 'bundle' =&gt; 'name_of_paragraph_bundle'));
$paragraph-&gt;is_new = TRUE;
$paragraph-&gt;setHostEntity('node', $node);
$paragraph-&gt;field1_name_in_paragraph_bundle[LANGUAGE_NONE][0]['value'] = 'Test Data';
$paragraph-&gt;field2_name_in_paragraph_bundle[LANGUAGE_NONE][0]['value'] = 'Test Data';
$paragraph-&gt;save();