AsemconnectVietnam - On Monday, domestic pepper prices in Vietnam's Central Highlands remained unchanged at VND72,000 – 75,000 per kg compared to Yesterday, according to Kinhtedothi.vn.

In Ba Ria-Vung Tau province, the maximum price for pepper stayed at VND75,000 per kg, while in Gia Lai province, the lowest price to VND72,000 per kg. Farmers in Binh Phuoc sold pepper for VND74,500 per kilogram, in Dong Nai province for VND72,500 per kilogram, and in Dak Lak and Dak Nong provinces for VND73,500 per kilogram.
According to data from the Ministry of Agriculture and Rural Development, in the first five months of the year, Vietnam exported 138,000 tons of pepper, valued at $414 million, up 38.4% in volume but down 9.9% in value over the same period in 2022.
During this time, the average export price of pepper reached USD3,011/tonne, down 35% compared to the same period in 2022. This is the strongest decrease in nearly 3 years.
According to the Ministry of Agriculture and Rural Development, the pressure from the rising dollar, the Fed's interest rate adjustment, affects the pepper import activities of many major markets.
Commenting on the market in the second half of the year, the Ministry of Industry and Trade thinks that prices will go up. The market became active when the increased demand from China, Papua New Guinea, ASEAN, Turkey..., offset the still quiet import demand of the US and EU markets.
Meanwhile, pepper price forecast this week has not had a strong change. The market fluctuated upward in a narrow range as supply concerns remained high.
Vietnam's pepper price hit the bottom of 34,000 VND/kg in March 2020, the lowest level in more than 10 years. From the second half of 2020 pepper price has increased again and reached 89,000 VND/kg in early 2022. From March 2022, pepper price continuously decreased and at the beginning of January 2023 stood at 60,000 VND/kg.
Entering this year's harvest, fear of a decrease in supply when the output is not as high as expected helps the domestic pepper price to reach 75,000 VND/kg as at present.
In the coming time, the authorities will publish their assessment of the situation of this year's harvest. Thereby the picture of the new crop will gradually appear. With high investment costs due to the sharp increase in the prices of materials, fertilizers, pesticides, and labor, although pepper has increased since the beginning of the year, pepper growers have not made much profit. Meanwhile, productivity and area in many regions dropped sharply, making supply concerns even more apparent.
Following are domestic pepper prices on June 5, 2022, in the main pepper growing and consumption regions: