Today’s Peppercorn Price Dip: A Steep and Continuous Fall to a New Low of 73,000 VND/kg
Today's pepper prices fluctuate between 73,000 and 77,000 VND per kg. Vietnam's pepper export prices to major markets such as the US, the EU, and the UAE have seen a significant surge compared to the same period last year.
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According to preliminary statistics from the General Department of Customs, in July 2021, Vietnam’s pepper exports reached 26,339 tons, earning $95.13 million, with an average price of $3,611.6/ton. This reflects a decrease of 20.6% in volume and 19.9% in value compared to June 2021, but a slight increase of 0.9% in price.
1Domestic Pepper Prices
Pepper prices in the domestic market today are ranging from VND 73,000 – 77,000/kg in the key growing areas.
Specifically, the latest pepper prices in the following provinces are:
Dong Nai: VND 73,000/kg
Gia Lai, the lowest in the market: VND 73,500/kg
Dak Lak and Dak Nong: VND 74,500/kg
Binh Phuoc: VND 75,500/kg
Ba Ria – Vung Tau, the highest: VND 77,000/kg
In the first seven months of 2021, Vietnam exported 180,210 tons of pepper, earning nearly $591.47 million, with an average price of $3,282/ton. This reflects a decrease of 2.3% in volume but an increase of 47.8% in value and 51.3% in price compared to the same period in 2020.
Pepper prices in the domestic market today range from VND 73,000 – 77,000/kg
2Global Pepper Price Update
White pepper prices in western Indonesia continue to show an upward trend, reaching 76,000 rupees/kg, or approximately $5.2/kg. According to statistics, this figure has doubled compared to before.
The increase in pepper prices, despite Indonesia’s economic challenges due to the pandemic, is a positive sign for the country.
White pepper prices in western Indonesia continue to rise, reaching 76,000 rupees/kg
The above is the pepper price update for September 4th that we would like to share with you.
Frequently asked questions
On June 20, 2023, the price of peppercorn in Vietnam experienced a significant dip, reaching a new low of 73,000 VND per kg. This price drop has been continuous and steep, affecting farmers and traders alike.
Multiple factors are believed to have influenced this price decline. Firstly, the global economic downturn has reduced demand for non-essential goods, including peppercorns. Additionally, the COVID-19 pandemic disrupted supply chains and further decreased demand from the food service industry. Moreover, favorable weather conditions in Vietnam’s pepper-growing regions have resulted in increased production and supply, outpacing demand.
The continuous fall in prices has had a significant impact on farmers and traders. Farmers are struggling to cover their production costs, and many are facing financial losses. Traders, on the other hand, are dealing with reduced profit margins and are finding it challenging to sell their stock, leading to a slowdown in market activities.
To address the challenges posed by the price dip, farmers are encouraged to join agricultural cooperatives and seek support from local authorities. Diversifying their crops and improving the quality of their peppercorns through better cultivation techniques can also help farmers enhance their competitiveness. Additionally, promoting consumption through marketing campaigns and exploring new export markets can potentially boost demand and stabilize prices.
Pepper prices in the domestic market today range from VND 73,000 – 77,000/kg
White pepper prices in western Indonesia continue to rise, reaching 76,000 rupees/kg
