The information was released by the Ministry of Industry and Trade’s Import and Export Department. It said the price of pepper in the Vietnamese market is increasing following the world price, up from 1.1 per cent to 4.5 per cent compared with that of the previous month.

The lowest price is VND44,000 ($1.9) per kilo in the southern province of Dong Nai, while the highest price is VND47,000 in the southern province of Ba Ria-Vung Tau.

It is estimated that Viet Nam’s June pepper export reached 35,000 tonnes, worth US$85 million, down 7.9 per cent in volume and 9 per cent in value compared to the previous month. Its average price was $2,429 per tonne.

In the first half of this year, Viet Nam exported 181,000 tonnes of black pepper, recording revenue of $461 million, down by 25.7 per cent year on year.

The department forecasts that in the coming months, pepper exports may face difficulties due to Brazil and Indonesia preparing for their main harvest.

In the world market, the June pepper prices increased despite abundant supply. The upward trend is expected not to last long due to oversupply pressure.

According to the Vietnam Pepper Association, the pepper supply worldwide has currently surpassed demand. In the coming years, pepper production will continue to increase rapidly, and many pepper producing countries, including Viet Nam, will have significant inventory volume.