In Ba Ria-Vung Tau province, the maximum price for pepper rose to  VND83,000 per kg, while in Gia Lai province, the lowest price to VND82,000 per kg. Farmers in Binh Phuoc sold pepper for VND85,000 per kilogram, in Dong Nai province for VND82,000 per kilogram, and in Dak Lak and Dak Nong provinces for VND84,500 per kilogram.

Việt Nam's pepper export volume in 2023 is expected to reach 250,000 tonnes, including volume from import and inventory from the previous year.

In the last months of the year, the exports could depend on the amount of inventory carried over from previous years.

The association forecasts that global pepper output in the 2023-2024 crop is estimated to decrease because output from pepper-producing countries is estimated to decrease.

However, the reduction in volume is still lower than the decrease in global consumption demand, so it is forecast that pepper price is unlikely to increase continuously in the long term, according to the association.

The domestic businesses also estimate that Việt Nam's output in the 2023-2024 pepper crop will decrease by about 10-15 percent to 160,000-165,000 tonnes.

Excluding China, the upcoming consumption demand of countries in the world may decline due to the impact of the economic crisis resulting from the Russia-Ukraine and Israel-Palestine conflicts. The world economic recession will decrease purchasing power in the future.

Besides that, consumption of major markets, including the US and EU - key export markets of Việt Nam, is unlikely to recover in the short term.

Analysts estimate that next year's output is expected to decrease in India by 20 percent, Indonesia by 20-30 percent, Việt Nam by 15 percent, and Brazil by 15 percent.

Meanwhile, the Ministry of Industry and Trade's Import-Export Department forecasts that Việt Nam's pepper exports will remain at a low level because the domestic supply is no longer abundant and consumption demand in the US and EU markets has not improved.

The amount of exported pepper originating from Việt Nam has run out. The total amount of inventory and import is about 80,000 tonnes, including the inventory of about 30,000 tonnes.

​Following are domestic pepper prices on December 29, 2023, in the main pepper growing and consumption regions: