AsemconnectVietnam - On Tuesday, domestic pepper prices in Vietnam's Central Highlands rose by 1000 VND per kg to VND72,500 – 75,000 per kg compared to Yesterday due to tight supply, according to Kinhtedothi.vn.

In Ba Ria-Vung Tau province, the maximum price for pepper increased to VND75,000 per kg, while in Gia Lai province, the lowest price to VND72,500 per kg. Farmers in Binh Phuoc sold pepper for VND74,500 per kilogram, in Dong Nai province for VND72,500 per kilogram, and in Dak Lak and Dak Nong provinces for VND74,000 per kilogram.
Experts said that if the cutting of pepper to switch to fruit trees continues for a long time, there may be a shortage of supply in the next 3 years. If Vietnam's pepper production falls deeply in the next 3 years due to the wave of crop shifting, farmers may lose.
Mr. Nguyen Van Lam, representative of Nedspice Spice Processing Company Limited (Binh Duong province), commented that the supply of pepper has decreased more than the demand that has appeared since the past 3 years when farmers race to cut down this crop. Currently, the pepper market is clearly revealed because before that, the inventory was still quite abundant. With this situation, if farmers return to grow pepper, it will take at least 3 years for the supply to increase again.
Data from Dong Nai Department of Industry and Trade shows that in the first four months of 2023, pepper export turnover dropped sharply to 14 million USD, down nearly 44% compared to the same period in 2022.
Although exports fell sharply, domestic pepper prices suddenly increased compared to the beginning of the year because supply was lower than demand. The price of pepper in the garden sold by farmers is 75,000 VND/kg, an increase of 15,000 VND/kg compared to the beginning of the year. Pepper exports faced difficulties, but pepper prices still increased due to a sharp decrease in supply. In Dong Nai province alone, pepper supply decreased by about 50% compared to before.
Notably, at the current price, the pepper garden has made a profit, but compared to the economic efficiency of many other crops, especially durian, it is still lower, so farmers will not consider replanting pepper trees.
Following are domestic pepper prices on May 30, 2022, in the main pepper growing and consumption regions: