AsemconnectVietnam - On Thursday, domestic pepper prices in Vietnam's Central Highlands fell by 500 VND to VND70,000 – 73,000 per kg compared to Yesterday, according to Kinhtedothi.vn.

In Ba Ria-Vung Tau province, the maximum price for pepper fell to VND73,000 per kg, while in Gia Lai province, the lowest price to VND70,000 per kg. Farmers in Binh Phuoc sold pepper for VND72,500 per kilogram, in Dong Nai province for VND70,500 per kilogram, and in Dak Lak and Dak Nong provinces for VND71,500 per kilogram.
At the May 2023 meeting of the Vietnam Pepper and Spices Association, Ms. Hoang Thi Lien - Chairman of the Information Association, some experts said that the price increase in the Vietnamese market was due to goods from the Chinese market. Meanwhile, with the psychology of waiting for more new crops from Indonesia in July-August and Brazil and hoping for a decrease in prices, on the contrary, there has been no exciting transaction from the EU and US markets.
In addition, the fact that the inventory from previous years also helps buyers from the EU and the US hesitate to join the market in the past 5 months.
It can be said that buyers consider the current price to be not attractive, not competitive, plus the psychology of waiting for new crops from Indonesia and Brazil, so they are trying to push the market to push the price down.
The market is having a tug-of-war between buyers and sellers. After Indonesia and Brazil enter the harvest, there will be a more realistic assessment of the crop to consider trading.
The explanations of the Chairman of the Vietnam Pepper and Spices Association are quite accurate for the last 3 days of decline of the domestic market. Especially in the context that the Association has just announced an increase in the output of this year's harvest compared to the previous year - contrary to most previous predictions of many companies.
Following are domestic pepper prices on June 8, 2022, in the main pepper growing and consumption regions: