DAILY: Vietnamese pepper prices remained unchanged on October 2Monday, October 2,2023
AsemconnectVietnam - On Monday, domestic pepper prices in Vietnam's Central Highlands remained unchanged at VND69,000 to VND72,000 per kg compared to Yesterday, according to Kinhtedothi.vn.
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.
The El Nino phenomenon will take place at the end of the year and last until the beginning of next year, leading to drought, lack of rain and possibly reducing Vietnamese pepper production next year. Because the current supply is not abundant but foreign customers' inventories have not yet been exhausted, the struggle continues.
In October 2023, experts predict the market will improve, but it will still be a tug-of-war between supply and demand. The market's upward momentum is greater as from now until Vietnam's Lunar New Year there will be no additional supply. Meanwhile, the year-end holiday season in other countries will help increase demand. Besides, the fourth quarter of 2023 is still dominated by weather developments, especially how El Nino affects next crop output in other countries.
Following are domestic pepper prices on October 2, 2023, in the main pepper growing and consumption regions:
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