AsemconnectVietnam - On Friday, domestic pepper prices in Vietnam's Central Highlands increased by 500 VND to VND92,500 - VND94,000 per kg compared to Yesterday due to limited supply, according to Kinhtedothi.

The maximum price for pepper stayed at VND94,000 per kg in Dac Lac and Dak Nong while in Gia Lai province, the lowest price rose to VND92,500 per kg. Farmers in Dong Nai sold pepper for VND92,500 per kilogram, in Binh Phuoc province for VND93,000 per kilogram, and in Ba Ria – Vung Tau for 93,000 VND.
Preliminary statistics from the Vietnam Pepper and Spice Association (VPSA) showed that Vietnam exported 25,000 tonnes of pepper in March, down 33% y-o-y.
Vietnamese pepper prices have bottomed out at only 34,000 VND/kg in March 2020, the lowest level in 10 years. Since mid-late 2020, pepper prices have increased again and reached 89,000 VND/kg in early 2022. Since March 2022, pepper prices have continuously decreased and in March 2023 were at 65,000 VND/kg.
Within the past year, domestic pepper prices increased by 30,000 VND/kg. Since the Lunar New Year Giap Thin 2024, domestic pepper prices continuously increased. In addition to domestic factors, the reason for the high price of Vietnamese pepper is that Brazil has passed the harvest season, while the main harvest in Indonesia or Malaysia has to wait until July.
The rising market helps farmers feel excited, but it also causes consequences.
The price of this agricultural product fluctuates up and down, causing many farming households to fall into the situation of cutting down and replanting. Up to now, prices have increased but area and output have decreased due to the increase in area of some more profitable crops. Vietnam's pepper output used to account for an average of 40% globally each year, but by 2024 it is forecast to decrease to 31.8%.
Following are domestic pepper prices on April 5, 2024, in the main pepper growing and consumption regions: