AsemconnectVietnam - On Monday, domestic pepper prices in Vietnam's Central Highlands remained unchanged at VND82.000 to VND85.500 per kg compared to Yesterday, according to Kinhtedothi.vn.

In Ba Ria-Vung Tau province, the maximum price for pepper rose to VND85,000 per kg, while in Gia Lai province, the lowest price to VND82,000 per kg. Farmers in Binh Phuoc sold pepper for VND85,500 per kilogram, in Dong Nai province for VND82,500 per kilogram, and in Dak Lak and Dak Nong provinces for VND85,000 per kilogram.
Last week, prices increased for 6 consecutive days, increasing by an average of 8,000 VND/kg. The reason is due to depleted sources of goods for export, forecast of crop failure, weakening USD and speculative activities.
Expert estimates will still increase this week, but not as strong as last week.
Commenting on the prospect of pepper prices next year, Mr. Le Duc Huy - General Director of Dak Lak 2-9 Import-Export Company Limited (Simexco) said that a price of 85,000 - 90,000 VND/kg is feasible. However, before 2024, the market has already exceeded the mark of 85,000 VND/kg. With this increasing momentum, it may reach 100,000 VND/kg in the next crop.
Not only Vietnam but also the output of many pepper growing countries such as India and Brazil is forecast to not be positive due to the impact of bad weather El Nino. Meanwhile, in the first quarter of 2024, purchases from Western countries may accumulate at the same time due to depleted inventories. This will help push domestic pepper prices to continue to increase.
The export volume of pepper in the first 11 months of 2023 reached a total of 245,665 tonnes of pepper of all kinds, an increase of 40,412 tonnes, an increase of 19.69% compared to the export volume in the first 11 months of 2023.
The value of export turnover in the first 11 months of 2023 reached a total of 833.19 million USD, down 63.86 million USD, or down 7.12% over the same period.
The average export price of pepper in November 2023 reached 3,839 USD/tonne, an increase of 1.78% compared to the average export price of October 2023.
Following are domestic pepper prices on December 18, 2023, in the main pepper growing and consumption regions:

T.Huong
Source: Vitic/Kinhtedothi