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DAILY: Vietnamese pepper prices fell by 500 VND on January 26 

 Friday, January 26,2024

AsemconnectVietnam - On Friday, domestic pepper prices in Vietnam's Central Highlands fell by 500 VND to VND79,000 to VND82,500 per kg compared to Yesterday, according to Kinhtedothi,vn.

The maximum price for pepper  stayed at VND82,500 per kg in Dac Lac and Dac Nong, while in Dong Nai province, the lowest price fell to VND79,000 per kg. Farmers in Binh Phuoc sold pepper for VND81,500 per kilogram, in Gia Lai province for VND80,000 per kilogram, and in Ba Ria – Vung Tau province for VND80,500 per kilogram.
Latest monthly report of Simexco Daklak Ltd. It is estimated that Vietnam's pepper exports in 2023  increased by 16.6% in volume but decrease by 6% in value. It is forecasted that pepper exports in 2024 will be favorable, prices will increase due to reduced output and inventories are currently at the lowest level in recent years.
The company added that, except for China, it is forecast that consumer demand in countries around the world may decline due to the impact of the economic crisis and conflict in Eastern Europe. At the same time, the impact of the war in Israel will also affect oil prices, which will continue to cause the economic situation to fall into recession, with purchasing power tending to decrease.
Vietnam has exported the entire pepper harvest in 2023, part of the export is taken from imports as well as inventory from the previous year, so the amount of inventory transferred from 2023 to 2024 will be the lowest in many years. Meanwhile, pepper output in 2024 is expected to be lower than in 2023.
​​Following are domestic pepper prices on January 26, 2024, in the main pepper growing and consumption regions:

Source: Vitic/Kinhtedothi


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