AsemconnectVietnam - On Tuesday, domestic pepper prices in Vietnam's Central Highlands rose by 2,000-3,000 VND to 155,000-157,000VND per kg compared to Yesterday, according to Kinhtedothi.

Vietnam's pepper industry accounts for 40% of global output and 60% of the world market share. According to the VPSA, the global pepper market is valued at approximately 5.4 billion USD and is projected to grow at an average rate of about 20% from 2024 to 2032.
In the first five months of 2024, the United States imported over 28,000 tons of pepper from Vietnam, valued at more than 128 million USD. This year's black pepper production is expected to decrease by 10% compared to the same period last year, with only about 170,000 tonnes. In the first 5 months of 2024, Vietnam exported 114,424 tonnes, equivalent to 67% of the annual production. The inventory from 2023 to 2024 is also the lowest in many years.The average export price of black pepper reached 4,197 USD per tonne and white pepper, 5,804 USD per tonne, up 754 USD and 849 USD respectively compared to the same period in 2023.
The US was the largest importer of the Vietnamese spice in the period with 30,466 tonnes, accounting for 26.6% of the total and up 44.4% year on year. Exports also skyrocketed in some markets such as Italy, Germany, and Russia with rises of 179%, 103.2% and 49.7%, respectively.
Following are domestic pepper prices on July 2, in the main pepper growing and consumption regions: