Pepper prices rising in Vietnam
In this article (5)
Pepper prices rose in the central highlands and southern Vietnam 3.6% to VND86,000 ($3.50) per kilogram on Monday as sinking supply fuels higher demand, according to the Vietnam Pepper Association.
Climbing prices were recorded in the central highlands provinces of Dak Lak and Dak Nong, as well as the southern provinces of Ba Ria – Vung Tau and Binh Phuoc, near Ho Chi Minh City.
The association has reported that Vietnam’s pepper production is set to fall 10-15% to 160,000-165,000 tons this year.
Prices are therefore expected to rise even further to around VND100,000.
Indonesian black pepper prices are now around $3,906 per ton, while Malaysia’s Kuching ASTA price is at $4,900.
Global demand is set to fall this year due to geopolitical tensions, experts have predicted.
The Vietnam Pepper Association targets a pepper and spice exports of around $2 billion next year, equivalent to about 400,000-500,000 tons.
Last year the country exported 267,000 tons of spices worth $912 million, up 16.6% in volume, but down 6% in value.
Questions & Answers
Q.Which specific regions in Vietnam have experienced this increase in pepper prices?
Which specific regions in Vietnam have experienced this increase in pepper prices?
Climbing prices were recorded in the central highlands provinces of Dak Lak and Dak Nong. Southern provinces affected include Ba Ria, Vung Tau and Binh Phuoc, which are located near Ho Chi Minh City.
Q.What is the projected fall in Vietnam's pepper production for this year?
What is the projected fall in Vietnam's pepper production for this year?
Vietnam’s pepper production is set to fall by 10-15% this year. This reduction means the total output is expected to be between 160,000 and 165,000 tons.
Q.What is the Vietnam Pepper Association's target for pepper and spice exports next year?
What is the Vietnam Pepper Association's target for pepper and spice exports next year?
The Vietnam Pepper Association aims for pepper and spice exports worth around $2 billion next year. This is equivalent to an export volume of approximately 400,000-500,000 tons of product.
Q.How did the value of Vietnam's spice exports change last year compared to the volume?
How did the value of Vietnam's spice exports change last year compared to the volume?
Last year, the country exported 267,000 tons of spices, marking a 16.6% increase in volume. However, the value of these exports decreased by 6% to $912 million.
Reader pulse
What's the immediate impact?
24,076 votes so far