AsemconnectVietnam - On Tuesday, domestic pepper prices in Vietnam's Central Highlands rose by 4000 VND to 148,000-150,000 VND per kg compared to Yesterday, according to Kinhtedothi.

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.
The Vietnam Pepper and Spice Association has just announced that in the first 15 days of July 2024, Vietnam exported 9,993 tonnes of pepper, valued at 56.5 million USD, which decreased sharply monthly.
The main export enterprises include Olam Vietnam: 1,272 tonnes, Phuc Sinh: 1,224 tonnes; Simexco Dak Lak: 839 tonnes, Nedspice Vietnam: 796 tonnes and Pearl: 649 tonnes.
Meanwhile, Vietnam imported 746 tonnes of pepper, valued at 4.5 million USD. Olam and KSS Vietnam are the two main importers, reaching 232 tonnes, accounting for 31.1%, and 75 tonnes, accounting for 10.1%, respectively. The main pepper importers are Indonesia: 438 tonnes, accounting for 58.7%, and Cambodia: 229 tonnes, accounting for 30.7%.
Following are domestic pepper prices on July 23, in the main pepper growing and consumption regions:

T.Huong
Source: Vitic