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DAILY: Vietnamese pepper prices fell by 1000 VND on April 2, 2024 

 Tuesday, April 2,2024

AsemconnectVietnam - On Tuesday, domestic pepper prices in Vietnam's Central Highlands decreased by 1000 VND to VND92,000 - VND94,000 per kg compared to Yesterday, according to Kinhtedothi.

The maximum price for pepper fell by 1000 VND to VND94,000 per kg in Dac Lac and Dak Nong while in Gia Lai province, the lowest price to VND92,000 per kg. Farmers in Dong Nai sold pepper for VND92,000 per kilogram, in Binh Phuoc province for VND93,000 per kilogram, and in Ba Ria – Vung Tau for 93,500 VND.
Vietnam's pepper prices are expected to continue to increase due to limited supply while the export of these products has also enjoyed relative growth, according to insiders.
Preliminary statistics from the Vietnam Pepper and Spice Association (VPSA) showed that Vietnam exported 12,368 tonnes of pepper, valued at 53 million USD in the first 16 days of March.
Export prices averaged 4,022 USD per tonne during January - February, up 28.7% from the same period last year. In March, prices of domestic pepper increased by 500 - 2,000 VND per kg.
VPSA Chairwoman Hoang Thi Lien attributed the surge of pepper prices to low inventories and strong demand in the US market in the last three months of 2023. The late harvest season in Dak Nong province was also a problem, she said, adding that a temporary shortage of supply led to an increase in domestic prices.
Currently, many localities are accelerating pepper harvesting in the 2023-2024 crop but farmers are delaying their sales with expectations of higher prices, she added.
Echoing her opinion, Nguyen Thi Thanh Huyen, Deputy Director of Prosi Thang Long Company, said that pepper exports have recorded strong growth since 2023.
Domestic pepper prices have also increased since December last year and many farmers and businesses expected that the export of pepper will thrive in 2024, she noted.
The Vietnam Pepper and Spice Association (VPSA) predicts that Vietnam’s pepper production in 2024 will decrease by approximately 10-15 percent to 160,000-170,000 tonnes.
According to some businesses and experts in the pepper industry, in recent years, pepper prices in many countries such as Brazil and Indonesia are often higher than in Vietnam, and there was even a time when Indonesia had no pepper to export.
According to the Vietnam Pepper and Spice Association (VPSA), Vietnam's pepper output in 2023 is estimated to reach about 190,000 tonnes and is expected to decrease by 10-15% this year. Dak Lak and Dak Nong provinces contribute about half of Vietnam's pepper output, followed by Dong Nai, Gia Lai, and Ba Ria-Vung Tau. Most pepper is harvested between January and April.
To maintain a stable supply and take advantage of large production and cleaning facilities, Vietnamese processors have increased pepper imports from Brazil, Indonesia, Cambodia, and Malaysia. Therefore, black pepper exported from Vietnam is often a blend of many different origins.
5 years ago, Vietnam's pepper productivity and output led the world, but in the past 2-3 years, many countries such as Brazil, India, and Indonesia have become competitors with Vietnam in terms of output and quality. Of these, the most notable is that Brazilian pepper has better quality with 80% of the quantity sold on the world market meeting organic standards.
Vietnam has about 100,000 hectares of pepper for harvest with an average yield of about 24.7 tonnes/hectare, equivalent to an output of about 247,000 tonnes. While pepper prices are still meager, pepper production costs tend to increase.
To maintain the number one position and gradually affirm the Vietnamese pepper brand in the world market, Vietnam is gradually shifting towards sustainable production of the pepper industry, in which organic pepper production is encouraged development.
The Central Highlands and Southeast are the two largest pepper-producing regions of the country. Currently, in the above 6 provinces (list updated prices daily), farmers strongly tend to switch from traditional methods to organic farming, forming organic pepper production areas. This is also a direction consistent with the general development trend of the world and welcomed by the international market.
Following are domestic pepper prices on April 2, 2024, in the main pepper growing and consumption regions:

T.Huong
Source: Vitic/Kinhtedothi

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