AsemconnectVietnam - On Monday, domestic pepper prices in Vietnam's Central Highlands remained unchanged to VND93,000 - VND95,500 per kg compared to Yesterday, according to Kinhtedothi.

The maximum price for pepper stayed at VND95,000 per kg in Binh Phuoc while in Dong Nai province, the lowest price to VND93,500 per kg. Farmers in Dac Lac and Dak Nong sold pepper for VND95,500 per kilogram, in Gia Lai province for VND93,000 per kilogram and Ba Ria – Vung Tau for 95,500 VND.
Last week, domestic pepper prices increased by 3,000 - 4,000 VND/kg, exceeding the mark of 95,000 VND/kg. This week, experts expect prices to remain high. The rate of price increase will slow down as new crops are coming to the market.
Vice Chairman of Chu Se Pepper Association (Gia Lai) Hoang Phuoc Binh forecasts that prices will continue to increase this year and may return to more than 100,000 VND/kg in the near future.
Global and Vietnamese pepper output is forecast to decrease because many farmers are not in a hurry to sell pepper to the market, contributing to scarcity as well as keeping pepper prices high.
The pepper industry is a typical example. The Vietnam Pepper and Spice Association (VPSA) estimated a 10.5% year-on-year decrease in pepper production to 170,000 tonnes in 2024.
A favourable outlook was still anticipated for pepper exports this year due to reduced production and low inventory levels worldwide. However, the sector must attach importance to deep processing to increase export value. The current proportion of processed pepper products for export stands at a mere 30%, indicating the need for a significant improvement.
Despite the projected increase in pepper prices, pepper in the Central Highlands and Southeast regions has faced stiff competition from other crops, notably durian. This highlights the urgency for the industry to prioritise deep processing, not only to increase export value but also to provide farmers with peace in their mind amid fluctuating prices and market challenges, said VPSA President Hoang Thi Lien.
Following are domestic pepper prices on March 4, 2024, in the main pepper growing and consumption regions:

T.Huong
Source:Vitic/Kinhtedothi