AsemconnectVietnam - On Wednesday, domestic pepper prices in Vietnam's Central Highlands remained unchanged at 144,000-146,000 VND per kg compared to Yesterday, according to Kinhtedothi.

In the long term, the demand for spices will increase while Vietnamese pepper trees are aging, and current prices cannot stimulate people to grow more.
According to Mr. Le Duc Huy, it is difficult to determine at what price people can return to pepper. Even if the price of pepper reaches 100,000 VND/kg, it is still not enough to attract people to grow it again. Because if compared with profits from other crops, especially durian, the income from pepper is still much lower.
This person said that inventory in the next 3-5 years will continue to decrease. In the long term, pepper prices are unlikely to decrease further. According to VPSA (Vietnam Pepper and Spice Association), Vietnam’s pepper output in 2024 is predicted to decrease by 10 percent compared with 2023 to VND170,000 tonnes, a 5-year low. In the first five months of this year, Vietnam has shipped abroad 114,424 tonnes of pepper worth 493.1 million USD, down 13.2 in volume but up 20.6% in value over the same period last year. The average export price of black pepper reached 4,197 USD per tonne and white pepper, 5,804 USD per tonne, up 754 USD and 849 USD respectively compared to the same period in 2023.
The US was the largest importer of the Vietnamese spice in the period with 30,466 tonnes, accounting for 26.6% of the total and up 44.4% year on year. Exports also skyrocketed in some markets such as Italy, Germany, and Russia with rises of 179%, 103.2% and 49.7%, respectively. Vietnam has promoted pepper export to many traditional markets such as the US, India, Germany, the Netherlands, the Republic of Korea, and Egypt. Export to many markets increased sharply in both volume and value.
According to the Vietnam Pepper and Spice Association (VPSA), Vietnam's pepper production this year is estimated to decrease by 10% compared to last year, to only about 170,000 tonnes - the lowest in the past five years. Meanwhile, the supply from countries such as Brazil, Indonesia, India and even smaller producers like Malaysia and Sri Lanka is also declining.
Following are domestic pepper prices on June 27, 2024, in the main pepper growing and consumption regions: