AsemconnectVietnam - On Monday, domestic pepper prices in Vietnam's Central Highlands remained unchanged at 149,000-150,000 VND per kg compared to Yesterday, according to Kinhtedothi.

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.
Forecasting coffee market trends for the last six months of 2024, based on factors such as weather conditions, crop yields, and global consumption demand, coffee prices may not cool down soon. The global coffee supply remains unstable due to climate change impacts and geopolitical factors. However, Vietnam, with favourable climate conditions and government support policies, has a great opportunity to increase production and exports. In general, amidst the volatile global coffee market, the efforts and innovation of Vietnamese businesses and farmers will play a decisive role in maintaining the position and sustainable development of the coffee industry.
According to the Vietnam Industry and Trade Information Center (VITIC), the rapid increase in freight costs and port congestion in Asia are affecting prices in import markets and may cause shipping delays, leading to price increases in the medium and long term. The US Department of Commerce released data showing that the country's gross domestic product (GDP) in the second quarter of 2024 increased by 2.8%, higher than the forecast of 2%, and much higher than the growth rate of 1.4% in the first quarter.
Following are domestic pepper prices on July 29, in the main pepper growing and consumption regions: