Vietnam’s black pepper price hits all-time high
HANOI: Domestic black pepper prices reached a new record at 111,000 dong to 112,000 dong per kg last week, surging by an additional 10,000 dong per kg from the beginning of last week.

Early last week, black pepper prices in the Vietnamese market held steady at approximately 101,000 dong to 102,000 dong per kg.

The unexpected price rises on May 15 and 16 caused a significant spike in domestic prices of 111,000 dong to 112,000 dong per kg. Although there was a slight correction of around 1,000 dong per kg, prices of black pepper remain high.

Experts attribute the surge in domestic black pepper prices to a combination of supply shortages and increased demand in major markets such as Europe, the United States and China.

Black pepper prices have been steadily rising on international exchanges, with black pepper currently trading in the range of US$4,900 to US$5,200 per tonne and white pepper, between US$6,500 to US$7,300 per tonne, depending on the quality.

Vietnam, being one of the major producers of black pepper, was badly hit by adverse growing conditions due to unusual weather conditions and farmers shifting their focus to other crops, particularly fruit trees, as black pepper prices had previously remained low.

With the current rise in black pepper prices, the Vietnam Pepper Association anticipates that the export value of pepper will reach an impressive US$1bil for the year. — Viet Nam News/ANN
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Domestic black pepper prices reached a new record at 111,000 dong to 112,000 dong per kg last week, surging by an additional 10,000 dong per kg from the beginning of last week.