In Ba Ria-Vung Tau province, the maximum price for pepper rose to  VND78,000 per kg, while in Gia Lai province, the lowest price to VND76,000 per kg. Farmers in Binh Phuoc sold pepper for VND78,000 per kilogram, in Dong Nai province for VND75,500 per kilogram, and in Dak Lak and Dak Nong provinces for VND77,000 per kilogram.

Last week, domestic pepper prices increased by 4%, and are up to 15% higher if compared to the beginning of November 2023. According to experts, despite the fact that Vietnam's largest black pepper consumer, China, has not bought strongly for more than a month, the decline in inventory in the last months of the year has pushed the market higher.

In a report, Simexco Daklak stated that current inventory is estimated at only 15,000 to 20,000 tonnes and the next harvest is expected to be about 140,000 - 150,000 tonnes, a significant decrease compared to last year. While the main harvest in 2024 is still more than 2 months away. Many farmers have switched to growing other crops that provide more regular and higher income, such as durian. The remaining area has a large number of old trees that do not yield good yields.

Experts say that with current market developments, it is likely that the domestic pepper price will reach 80,000 VND/kg before the start of the new crop. If the market scenario repeats like 2021, domestic pepper prices could increase beyond 100,000 VND/kg.

Following are domestic pepper prices on December 12, 2023, in the main pepper growing and consumption regions:


T.Huong
Source: Vitic/Kinhtedothi