Thursday, May 30,2024 - 3:32 GMT+7  Việt Nam EngLish 

DAILY: Vietnamese pepper prices rose by 500 VND on February 16 

 Friday, February 16,2024

AsemconnectVietnam - On Friday, domestic pepper prices in Vietnam's Central Highlands increased by 500 VND to VND82,000 to VND84,500 per kg compared to Yesterday, according to Kinhtedothi,vn.

The maximum price for pepper rose to VND84,000 per kg in Binh Phuoc, while in Dong Nai province, the lowest price stayed at VND82,000 per kg. Farmers in Dac Lac and Dak Nong sold pepper for VND84,500 per kilogram, in Gia Lai province for VND82,500 per kilogram, and in Ba Ria – Vung Tau province for VND84,000 per kilogram.
The Vietnam Pepper Association (VPSA) estimated a 10.5 percent decrease in production to 170,000 tonnes in 2024 compared to 2023. While a favourable outlook was still anticipated for black pepper exports this year due to reduced production and low inventory levels worldwide, the sector must not overlook the importance of deep processing in enhancing export value. The current proportion of processed black pepper exports stands at a mere 30 percent, indicating the need for a significant improvement.
Despite the projected increase in pepper prices, the cultivation of pepper has faced stiff competition in the Central Highlands and Southeast regions, primarily from other crops, notably durian. This shift highlighted the urgency for the industry to prioritise deep processing, not only to increase export value but also to provide farmers with a sense of security amid fluctuating prices and market challenges.
From the perspective of a leading exporter to major markets, Phan Minh Thông, Chairman of the Board of Directors of Phúc Sinh Corporation, a Vietnamese pepper trader based in HCM City, highlighted the indispensable role of continued investment in deep processing for the sustainable development of Việt Nam's black pepper sector.
Following are domestic pepper prices on February 16, 2024, in the main pepper growing and consumption regions:

T.Huong
Source:
 Vitic/Kinhtedothi

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