- On May 27, 2023, the price of pepper was 76,000 VND. On May 27, 2024, the price of pepper was 125,000 VND. This means that the price of pepper has increased by 64% in the past year. However, the upward trend of pepper prices seems to be continuing as stocks at farmers and dealers have decreased significantly. Everyone expects pepper prices to increase sharply in the near future, similar to the coffee and cocoa prices over the past 2 years.
- It is worth noting that the current price of pepper in Vietnam is still the cheapest in the world. Other pepper-producing countries like Indonesia are expecting a late harvest in August/September and a significant loss of crop. Additionally, the Brazilian harvest has been delayed and is expected to start in August/September with a projected decrease in production of 10-20%. Therefore, it seems that the world’s demand for pepper will focus on the abundant and cheapest source, Vietnam, in June/July/August. This is also a significant challenge as Vietnam’s pepper production has been continuously declining in recent years.
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