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DAILY: Vietnamese pepper prices increased by 500 VND on September 25 

 Monday, September 25,2023

AsemconnectVietnam - On Monday, domestic pepper prices in Vietnam's Central Highlands rose by 500 VND to VND70,000 to VND73,000 per kg compared to Yesterday, according to Kinhtedothi.vn.

In Ba Ria-Vung Tau province, the maximum price for pepper rose to VND73,000 per kg, while in Gia Lai province, the lowest price stayed at VND70,000 per kg. Farmers in Binh Phuoc sold pepper for VND72,000 per kilogram, in Dong Nai province for VND70,500 per kilogram, and in Dak Lak and Dak Nong provinces for VND71,000 per kilogram.
Last week, pepper prices as well as other agricultural product exchanges were at a disadvantage when the USD increased sharply. Pepper harvest from now until Vietnam enters the 2024 harvest is quite clear.
The latest harvests of countries such as Brazil, India and Indonesia all showed that yields were not as expected. The reason is that the weather reduces output and farmers switch to growing higher value crops. Meanwhile, forecasts also indicate that next year's harvest in Vietnam will be lower than in 2023, only about 180 thousand tonnes.
World supply will not be enough to meet demand. The obstacles to current pepper prices are inflation, the high USD, and large inventories from European and American customers.
In the first 8.5 months of 2023, Vietnam has exported more than its production output. In the last months of the year, export volume will depend on the amount of imported pepper and inventory in warehouses. It is forecast that in the first 4 months of 2024, the export volume of pepper will be at least 80 thousand tons more.
Thus, the supply is quite tight compared to actual demand until the new crop hits the market (March-April 2024).
​​Following are domestic pepper prices on September 25, 2023, in the main pepper growing and consumption regions:

T.Huong
Source: Vitic/Kinhtedothi

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