AsemconnectVietnam - On Wednesday, domestic pepper prices in Vietnam's Central Highlands rose by 500 VND per kg to VND72,500 – 75,500 per kg compared to Yesterday due to tight supply, according to Kinhtedothi.vn.

In Ba Ria-Vung Tau province, the maximum price for pepper increased to VND75,500 per kg, while in Gia Lai province, the lowest price to VND72,500 per kg. Farmers in Binh Phuoc sold pepper for VND75,000 per kilogram, in Dong Nai province for VND73,000 per kilogram, and in Dak Lak and Dak Nong provinces for VND74,000 per kilogram.
Preliminary data of the General Department of Customs shows that exports in the first half of May 2023 reached 13,568 tonnes of pepper of all kinds, valued at $23.23 million. Thus, exports in the first 4.5 months of the year reached 116,106 tonnes, up 33.35% in volume but down 12.16% in value over the same period last year. The average export price of pepper in the period reached 2,876 USD/tonne, down 8.90% compared to the average export price of April 2023.
The high dollar is holding back pepper prices in other countries. However, the supply shortage is expected to continue to help domestic pepper prices in Vietnam remain high compared to the beginning of the harvest season.
The supply is forecasted to continue to decrease due to the increasing area of aging pepper, climate change causing erratic weather are also factors that reduce the yield of this crop.
According to reports of some pepper exporting companies, from now until the harvest of the new crop year, pepper prices will continue to increase because the supply is decreasing. Pepper exports will prosper in the near future. The market will change in terms of output, but value will increase.
However, according to many pepper growers in Dong Nai province, pepper prices are high, but pepper farmers hardly benefit. Because after many years of losses, farmers have run out of capital, so the harvest is sold to traders instead of storing it for high prices like many years ago.
Recently, the market price of pepper has increased to the level where farmers are profitable, but no one is interested in keeping or reinvesting this crop, most of the old pepper gardens are turning to fruit trees.
Following are domestic pepper prices on May 31, 2022, in the main pepper growing and consumption regions: