In Ba Ria-Vung Tau province, the maximum price for pepper stayed at VND72,000 per kg, while in Gia Lai province, the lowest price at VND69,000 per kg. Farmers in Binh Phuoc sold pepper for VND71,000 per kilogram, in Dong Nai province for VND69,500 per kilogram, and in Dak Lak and Dak Nong provinces for VND70,000 per kilogram.

Accumulated in the first 9 months of 2023, Vietnam's pepper exports reached 207 thousand tonnes, an increase of 18.7% over the same period in 2022.  Turnover reached 685 million USD, down 11.1%. There is only the fourth quarter of 2023 left, so the pepper industry's billion-dollar export target is very difficult to achieve, amid the current market turmoil and tight supply.

According to the International Pepper Consortium (IPC), harvest output from producing countries such as Brazil, Indonesia and India is forecast to decrease compared to 2022. However, the world economy is difficult, inflation still at a high level, people tighten their spending, which is the reason why major economies such as the United States and EU reduce pepper imports.

It is forecast that world pepper prices will continue to decrease in the short term despite published data showing a decrease in harvest output from producing countries.

In the Vietnamese market, it is forecast that pepper exports will remain at a low level because domestic supply is no longer abundant and consumption demand in the US and EU markets has not really improved.

Currently, the amount of exported pepper originating from Vietnam has run out. In the last months of this year, businesses will export from imported goods and pre-existing inventory.

It is estimated that the total amount of inventory and imports is about 80.000 tonnes, while domestic consumption is about 10.000 tonnes and the amount of inventory transferred to next year is about 30.000 tonnes, leaving about 50.000 tonnes for export in the last months of the year.

​​Following are domestic pepper prices on October 4, 2023, in the main pepper growing and consumption regions:

T.Huong
Source: Vitic/kinhtedothi