AsemconnectVietnam - On Friday, domestic pepper prices in Vietnam's Central Highlands fell by 1000 VND to VND67,000 – VND71,000 per kg compared to Yesterday, according to Kinhtedothi.vn.

In Ba Ria-Vung Tau province, the maximum price for pepper fell to VND70,000 per kg, while in Gia Lai province, the lowest price at VND67,000 per kg. Farmers in Binh Phuoc sold pepper for VND69,000 per kilogram, in Dong Nai province for VND67,500 per kilogram, and in Dak Lak and Dak Nong provinces for VND68,000 per kilogram.
In June 2023, the domestic pepper price decreased by 5,500 VND/kg. In April 2023, the domestic pepper price increased in the range of 2,500 - 4,000 VND/kg.
In the first 6 months, domestic pepper price still increased by 10,000 VND/kg. Currently, the agricultural product market is on a downward trend amid a slowdown in exports and the anticipation of a new harvest in Indonesia. Along with that, the USD is recovering and the anticipation of an upcoming interest rate hike weighs on business activities, making the market gloomy.
The Vietnam Pepper and Spices Association recommends that businesses should consider and be alert, carefully assess their financial ability when signing contracts for large quantities, long term, and low prices because when countries enter the growing season. prices down; and when the rising price does not buy enough for long term delivery, risk and loss as happened in the 2022 crop, affecting business reputation.
The El Nino phenomenon may appear at the end of 2023 and extend to 2024, which will greatly affect pepper gardens, especially those that have been in business for a long time. This is also a factor that businesses need to pay close attention to when building business strategies and plans, especially for forward contracts.
Following are domestic pepper prices on June 30, 2022, in the main pepper growing and consumption regions: