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DAILY: Vietnamese pepper prices rose by 500 VND on January 30 

 Tuesday, January 30,2024

AsemconnectVietnam - On Tuesday, domestic pepper prices in Vietnam's Central Highlands rose by 500 VND to VND80,500 to VND83,000 per kg compared to Yesterday, according to Kinhtedothi.vn.

The maximum price for pepper rose to VND83,000 per kg in Dac Lac and Dac Nong, while in Dong Nai province, the lowest price stayed at VND80,500 per kg. Farmers in Binh Phuoc sold pepper for VND83,000 per kilogram, in Gia Lai province for VND80,500 per kilogram, and in Ba Ria – Vung Tau province for VND82,500 per kilogram.
With only about 10 days left until the Lunar New Year holiday in Giap Thin, factories and processing facilities have stopped operating. Vietnam's 2024 pepper harvest began in some districts of Dak Nong province 1 month ago, but the harvest is mainly scattered in some districts.
Due to the effects of climate change, this year's harvest is later than last year, and Vietnam's pepper output in 2024 is expected to reach 170 thousand tons, down 10.5% compared to 2023.
Experts say that from now until the Lunar New Year, there will not be much change in the market. Prices are around 80,000 - 83,000 VND/kg, unlikely to reach 85,000 VND/kg due to lack of supporting factors. Farmers' cautious mentality after many recent agent defaults along with forecasts of supply shortages has resulted in a small amount of actual goods traded.
Asia is the largest market for Vietnamese peppercorns, accounting for 52.7% of the nation’s total export volume of the product, heard the Vietnam Pepper and Spice Association (VPSA)’s annual conference held in Hanoi on January 25.
VPSA Chairwoman Hoang Thi Lien said last year, in contrast to an annual decline in peppercorn exports from major producers such as Brazil, Indonesia, India, and Malaysia, Vietnam has witnessed a remarkable surge of over 13.8% with a total of 264,094 tonnes and 906.5 million USD.
However, she predicted that in months to come, Vietnam is poised to confront a lingering decrease in peppercorn exports due to a dwindling domestic supply coupled with weak demand from key markets such as the US, the EU, and China. Despite these challenges, Vietnamese exporters are demonstrating a heightened awareness of US regulations, with local producers actively exploring more tailored cultivation methods to meet the demands of this market.
From a business perspective, Le Anh Son from the Binh Minh Cooperative asserted that the European market holds significant potential for the peppercorn industry. Therefore, ensuring quality is significant for smooth export transactions.
Similarly, a representative from the Son Ha company noted that to establish a sustainable global market presence, the industry must adhere to international standards, particularly in terms of chemical residues. The focus should be on sustainable development, moving away from quantity-centric approaches to post-harvest quality improvement. Additionally, active participation in cooperatives and collaborative initiatives is crucial for connecting producers with processing enterprises and exporters.
Following are domestic pepper prices on January 30, 2024, in the main pepper growing and consumption regions:

T.Huong

Source: Vitic/Kinhtedothi


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