Today’s Peppercorn Price: Reaching 80,000 VND/kg After a Four-Day Rally
Today, pepper prices are seeing a slight upward trend, ranging from 76,000 to 80,000 VND per kg across various localities. Join us as we delve into the latest updates on pepper prices and explore the factors influencing this spice's market value.
Vietnamese pepper export prices remain higher than $90/ton compared to the beginning of the month. In addition, the pepper industry promotes the export of products for the cosmetics production industry. As a result, the value of Vietnamese pepper is enhanced.
1Domestic Pepper Price
Today’s pepper price in the domestic market is trading at VND 76,000 – 80,000/kg, with a slight upward trend, recording an additional VND 500/kg in key growing areas.
Specifically, the latest pepper prices in the following provinces:
Dong Nai is the lowest at VND 76,000/kg, up VND 500/kg
Gia Lai is VND 77,000/kg, up VND 500/kg
Dak Lak and Dak Nong are at VND 78,000/kg, up VND 500/kg
Binh Phuoc is at VND 79,000/kg, up VND 500/kg
Ba Ria – Vung Tau is the highest at VND 80,000/kg, up VND 500/kg
The domestic market is now bustling after two weeks of stagnation. Positive information from the southern localities’ relaxation of social distancing to boost economic development has affected pepper production, business, and export.
Domestic Pepper Price
2World Pepper Price
Brazil is currently facing a significant drop in pepper production. Similarly, pepper production in Indonesia and Vietnam is not optimistic.
The world pepper price is forecast to continue its upward trend in the coming time. The decline in production in Vietnam, Indonesia, Malaysia, and other countries presents an opportunity for another regional player, Cambodia.
As early as March 2021, Cambodia’s leading pepper farms and exporters held numerous online conferences and increased production to meet the significant export potential for this commodity in 2021.
World Pepper Price Forecast to Continue Upward Trend
The above is the pepper price for September 10th that we would like to update you on.
Frequently asked questions
As of the report on July 11, 2022, the price of peppercorns in Vietnam has reached a remarkable high of 80,000 VND per kg, reflecting a strong four-day rally in the market.
The primary driver behind this surge in peppercorn prices is the ongoing drought in the Central Highlands region, which is the main pepper-growing area in Vietnam. This drought has significantly impacted the yield and quality of the peppercorns, reducing the overall supply in the market.
The drought has caused a decrease in both the quantity and quality of the peppercorn harvest. It has led to a reduction in the number of peppercorns produced, and the lack of water has also affected their size and overall appearance, making them less desirable in the market.
Yes, there are concerns about the potential impact on exports and the competitiveness of Vietnamese pepper in the global market. With higher prices, there is a risk that buyers may look to alternative sources or substitute products, which could affect the country’s market share in the long run.
Experts are calling for sustainable solutions to mitigate the impact of droughts and improve the resilience of the peppercorn crop. This includes adopting better irrigation techniques, exploring drought-resistant varieties, and providing education to farmers on effective water management practices. These measures aim to stabilize production and ensure the competitiveness of Vietnamese pepper in the international market.
Domestic Pepper Price
World Pepper Price Forecast to Continue Upward Trend
