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DAILY: Vietnamese pepper prices decreased by 500 VND on April 12, 2024 

 Friday, April 12,2024

AsemconnectVietnam - On Friday, domestic pepper prices in Vietnam's Central Highlands decreased by 500 VND to VND89,500 - VND90,500 per kg compared to Yesterday, according to Kinhtedothi.

The maximum price for pepper fell to VND90,500 per kg in Dac Lac while in Dong Nai province, the lowest price to VND89,500 per kg. Farmers in Dak Nong sold pepper for VND90,500 per kilogram, in Binh Phuoc province for VND90,500 per kilogram, and in Ba Ria – Vung Tau for 90,000 VND.
According to the Vietnam News Agency, Dak Lak province has 28,583 hectares of pepper. After many years of low pepper prices (to 34,000 VND/kg in March 2020), from the beginning of 2024 until now, pepper prices in Dak Lak province have continuously increased, sometimes reaching 94,000 VND/kg. Prices increased, many households made a profit and had capital to reinvest in their gardens.
Prices increased, farmers were excited, but many agents and businesses had difficulty purchasing agricultural products. Many farmers and agents still hoard agricultural products and wait for prices to rise before selling them.
In Quang Phu town, Cu M'Gar district, Ms. Nguyen Thi Long's family has been doing agricultural business for decades. In the 2024 pepper harvest season, every day, her family purchases about 20 tonnes of pepper, down 20 - 30 tonnes/day compared to previous years. According to Ms. Long, the purchasing volume decreased because the pepper area has decreased. On the other hand, farmers sell in small quantities and are still hoarding coffee and pepper to wait for higher prices.
Rising pepper prices reflect the problem of supply and demand. The supply of pepper among people has decreased because some farmers in Dak Lak have switched to growing fruit trees such as avocado and durian.
Along with that, demand for pepper increased because pepper inventories in consuming countries have decreased. But with rising prices, businesses face many challenges in terms of capital, ability to keep goods, meet export orders, and risk management ability.
Following are domestic pepper prices on April 12, 2024, in the main pepper growing and consumption regions:

T.Huong
Source:Vitic/Kinhtedothi


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