Pepper Prices Reach Nearly 200,000 VND/kg

​(News Portal – Dong Nai) – Currently, pepper farmers in the province are in the phase of nurturing and maintaining the health of pepper plants in preparation for the flowering and fruiting stage for the next harvest. Unlike previous years, when farmers only provided minimal care due to low pepper prices, the current high prices are motivating them to invest more in fertilizing and treating their pepper gardens, with the hope of achieving high yields in the upcoming harvest.

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A farmer in Thanh Son Commune, Tan Phu District, is harvesting pepper 

At present, traders are purchasing pepper in the province at prices ranging from 160,000 to 170,000 VND/kg, more than double the selling price of the last harvest. A few weeks ago, at one point, pepper prices even reached nearly 200,000 VND/kg. It is predicted that pepper prices will continue to remain high in the near future. The continuous price increase in recent months is attributed to a significant drop in supply due to a reduction in pepper cultivation area. Additionally, the 2024 harvest saw a decline in production due to unfavorable weather conditions.

According to the Vietnam Pepper and Spices Association (VPSA), Vietnam's estimated pepper production for 2024 is projected to decrease further to only about 170,000 tons, the lowest in the past 5 years. Global pepper production in 2024 is expected to reach approximately 465,000 tons, a 1.2% decrease compared to last year. Meanwhile, global pepper consumption demand is anticipated to reach 529,000 tons. The insufficient supply to meet demand is the reason for the continuous price surge in the export market. It is expected that pepper prices may continue their upward trend in the coming time. ​