AsemconnectVietnam - On Tuesday, domestic pepper prices in Vietnam's Central Highlands rose by 500-1,000 VND per kg compared to Yesterday to 143,500 – 145,000 VND per kg, according to Kinhtedothi.

DAILY: Vietnamese pepper prices rose by 500-1,000 VND per kg on October 22, 2024
On Tuesday, domestic pepper prices in Vietnam's Central Highlands rose by 500-1,000 VND per kg compared to Yesterday to 143,500 – 145,000 VND per kg, according to Kinhtedothi.
As of mid-October 2024, Vietnam's pepper exports officially exceeded 1 billion USD. The Import-Export Department (Ministry of Industry and Trade) forecasts that world pepper prices will remain high in the short term due to limited supply. However, high prices limit demand for this item, causing people to tighten spending. In particular, weak demand from the Chinese market continues to be the reason for restraining the growth of pepper. However, in the long term, pepper export prices will still be supported, because Vietnam's output of this item in the 2025 crop is not expected to increase. The 2025 pepper crop in Vietnam will be harvested almost entirely in February, some areas will extend to March and April, 1-2 months later than previous years due to the impact of prolonged drought.
At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,795 USD/ton, up 0.01%; the price of Brazilian black pepper ASTA 570 at 6,400 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,700 USD/ton.
The price of Muntok white pepper was 9,302 USD/ton; the price of ASTA Malaysian white pepper was 11,200 USD/ton.
The price of Vietnamese black pepper is traded at 6,500 USD/ton for 500 g/l; the price of 550 g/l is 6,800 USD/ton; White pepper price at 9,500 USD/ton. IPC kept pepper prices stable in the first trading session of the week.
Exporters are concerned about the difficulties in procuring the spice due to scarce supply.
Experts said domestic pepper prices are likely to rise further this year, especially with Tet (Lunar New Year) coming around in a few months.
The Ministry of Industry and Trade’s import and export department forecast global prices to remain high as the country’s pepper production is expected to decrease next year due to drought.
The Vietnam Pepper Association does not expect global production to meet demand in the next three to five years.
Pepper is an important agricultural product for Vietnam, which is also the world’s largest exporter of the spice with a 60% market share. Its exports last year were worth $912 million.
Vietnam exported 203,000 tonnes of pepper worth over $1 billion in the first nine months of the year, figures from the General Department of Vietnam Customs show.
The figure represents a decrease of 1.5% year-on-year in volume but an increase of 46.9% in value.
In September alone, 20,000 tonnes of pepper were shipped, earning $125 million, skyrocketing 10.4% in quantity and 84.9% in value compared to the same period last year.
The average export price in the nine-month period reached $4,941 per tonne, soaring 49.2% year-on-year.
In September, the export price hitting $6,239 per tonne, the highest rate over the past years.
The US remaining the top importer of Vietnamese pepper in the nine-month period, with 5,466 tonnes. It was followed by UAE, Hong Kong (China), Germany and the Netherlands.
Exports to Asia accounted for the largest proportion among other regions with 37.8% or over 75,800 tonnes. The exports, however, dropped 33.7% year-on-year.
Meanwhile, exports to America reached over 62,600 tonnes, soaring 49.6% year-on-year and to Europe, over 50,700 tonnes, up 33.6%.
The sector is expected to gain export revenue of $1.3 billion this year.
Following are domestic pepper prices on October 22, in the main pepper growing and consumption regions: