AsemconnectVietnam - On Friday, domestic pepper prices in Vietnam's Central Highlands rose by 12,000-15,000 VND to 157,000-160,000VND per kg compared to Yesterday, according to Kinhtedothi.

This year's black pepper production is expected to decrease by 10% compared to the same period last year, with only about 170,000 tonnes. In the first 5 months of 2024, Vietnam exported 114,424 tonnes, equivalent to 67% of the annual production. The inventory from 2023 to 2024 is also the lowest in many years.
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.
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.
CBI forecasts that pepper imports from European countries will grow by 1-2% each year. The European market offers a price advantage over Asian markets for high quality and sustainably produced black pepper.
Recently, the EU market's requirements and regulations on non-tariff barriers continue to increase and become increasingly strict. This market also continuously has warnings about pesticide residues as well as increasing the frequency of control and tightening MRLs regulations for food in general, including Vietnamese spices.
The Vietnam Pepper and Spice Association (VPSA) said that the EU is a potential market for Vietnamese pepper exports. However, to take advantage of these opportunities, the pepper industry must move towards sustainable production, because more and more European consumers are demanding certifications that ensure products are sustainable.
Following are domestic pepper prices on June 28, 2024, in the main pepper growing and consumption regions:

T.Huong
Source: Vitic