The maximum price for pepper  stayed at VND81,000 per kg in Dac Lac and Dac Nong, while in Gia Lai province, the lowest price at VND77,500 per kg. Farmers in Binh Phuoc sold pepper for VND80,500 per kilogram, in Dong Nai province for VND78,000 per kilogram, and in Ba Ria – Vung Tau province for VND79,000 per kilogram.

In 2024, pepper production in most countries is forecast to decrease due to El Nino causing negative impacts on crops and lack of care from farmers.

In Vietnam, pepper production in 2023 reached 190,000 tonnes and this year experts expect it to decrease to 160,000 - 170,000 tonnes. The supply of the old crop is not much while this year's new crop is harvested later by people.

Normally, some regions start harvesting as early as December, but this year the harvest starts in January and lasts until the end of April. Low supply is expected to push pepper prices up.

According to the General Department of Customs, in 2023, Vietnam exported 267,000 tonnes of pepper, valued at 912 million USD. This increased by 16.6% in quantity but decreased by 6% in value.

The reason for the decline in export value is that the average export price of Vietnam’s pepper decreased by 19.4% to 3,420 USD/tonne in 2023 compared to 2022.

According to the Vietnam Pepper and Spice Association (VPSA), Vietnamese exporters have an advantage over some countries such as India, Malaysia, and Indonesia,… thanks to the EVFTA Agreement, which reduces the import tax on pepper to the EU from 4% to 0%.

In addition, the US has reduced pepper imports from India. Meanwhile, Vietnam’s pepper has good prices and increasingly high quality, so it is favored by this country. Vietnam’s pepper industry is highly appreciated for its processing capacity with the proportion of processed goods accounting for about 30% of total export turnover.

​​Following are domestic pepper prices on January 15, 2024, in the main pepper growing and consumption regions:

T.Huong
Source: Vitic/Kinhtedothi