AsemconnectVietnam - On Thursday, domestic pepper prices in Vietnam's Central Highlands increased by 1500 VND to VND92,500 - VND95,000 per kg compared to Yesterday, according to Kinhtedothi.

The maximum price for pepper rose by 1000 VND to VND95,000 per kg in Binh Phuoc while in Dong Nai province, the lowest price to VND92,500 per kg. Farmers in Dac Lac and Dak Nong sold pepper for VND94,500 per kilogram, in Gia Lai province for VND93,000 per kilogram and Ba Ria – Vung Tau for 93,500 VND.
Mr. Hoang Phuoc Binh - Vice Chairman of Chu Se Pepper Association informed the press that pepper prices in the near future will increase further due to supply shortage. Pepper farmers are not under pressure to sell pepper seeds early compared to previous years. The reason is that coffee and durian prices increased last year, so people have a stable source of income.
This year both coffee and pepper prices have increased well, farmers are excited. Currently, coffee prices have increased to more than 80,000 VND/kg, increasing at a level that surprised both business people and experts.
However, according to predictions, coffee prices have almost reached their peak. Because if it's too high, roasters will have to choose another option, reducing the coffee ratio to keep the product price from being too high.
As for pepper, the price has skyrocketed since the beginning of the season. Therefore, many farmers and agents continue to prioritize selling coffee and switch to storing black pepper, leading to a lower amount of black pepper traded on the market than in previous years.
On Vietnamese pepper grower forums, many farmers have begun to expect black pepper prices to continue to increase by at least 20-30% in the near future. This has reinforced the psychology of stockpiling black pepper in the farming community. Farmers increasingly believe in the increasing price cycle of black pepper and almost refuse to sell when the market adjusts downward.
Following are domestic pepper prices on February 29, 2024, in the main pepper growing and consumption regions:

T.Huong
Source: Vitic/Kinhtedothi