AsemconnectVietnam - On Wednesday, domestic pepper prices in Vietnam's Central Highlands fell by 2000 VND to 148,000-149,000 VND per kg compared to Yesterday, according to Kinhtedothi.

In the first 6 months of 2024, the average export price of Vietnamese pepper has increased by USD 1,000/ton compared to the same period in 2023. Specifically, the price of black pepper reached more than USD 4,300/tonne, white pepper reached nearly USD 6,000/tonne.
The main reason for the sharp increase in pepper prices is that global pepper production has decreased significantly due to the El Nino phenomenon and the decline in farming area, and the volume of inventory from last year transferred to this year in Vietnam (the largest pepper exporting country) is almost negligible while demand in major markets such as Europe, the US and China is decreasing.
According to VPSA's assessment, Vietnam's pepper output in 2024 is estimated to decrease by 10% compared to 2023, to only about 170,000 tons. This is the lowest level in the past 5 years.
The Import-Export Department (Ministry of Industry and Trade) forecasts that rising domestic pepper prices will push up export pepper prices and it is expected that the pepper industry will earn billions of dollars in export revenue this year.
According to statistics from the Vietnam Pepper and Spice Association (VPSA), in the first 6 months of 2024, as of the end of June 2024, Vietnam has exported 142,586 tons of pepper of all kinds, a decrease of 6.8%. in volume but an increase of 30.5% in value.
Of which, the volume of black pepper exported reached 125,959 tons, white pepper reached 16,627 tons. Total export turnover reached USD 634.2 million, black pepper reached USD 539.9 million, white pepper reached USD 94.3 million.
Following are domestic pepper prices on July 17, in the main pepper growing and consumption regions: