Vietnam will supply pepper worth $1 billion (90 billion rubles) abroad, VnExpress reported on September 1 about the assessment of the Vietnam Pepper and Spice Association (VPSA).
In seven months, more than 164,300 tons of pepper were sold to other countries at an average price of $4,568 (410,000 rubles) per ton of black pepper and $6,195 (560,000 rubles) per ton of white pepper, which is 32.7% and 25% more expensive than in 2023.
The largest buyer of Vietnamese pepper was the United States, followed by Germany, the United Arab Emirates (UAE) and India.
Brazil is the second largest producer and exporter of black pepper. The South American country received a very weak harvest, which led to an increase in prices. Experts expect a reduction in pepper production in Vietnam, Malaysia and Indonesia due to the El Niño phenomenon. Over the next three to five years, I predict that demand will outstrip the supply of pepper.
Domestic pepper prices from January to July rose by 82.9% to 150,000 dong (555 rubles) per kilogram. Over the year, the price increase was 120.6%. Despite the rise in pepper prices, Vietnamese farmers are switching to durian and coffee production, as they are more profitable.
Vietnam’s major pepper plantations (Gia Lai, Dak Lak and Dac Nong in the central highlands, and Binh Phuoc, Dong Nai and Ba Ria-Vung Tau in the southeast) have reduced plantings to 50% of their peak level.
Source: Rossa Primavera
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