Pepper prices increasing slightly as markets slowly recover from the pandemic

The price of black pepper in key areas in the Central Highlands increased to USD 1.72 - 1.85 / kg, an increase of USD 0.013 - 0.043 / kg. Pepper prices increased because of increased demand from overseas consumers as the COVID pandemic is slowing down in some countries. The Chinese consumers have returned to normal levels and started importing both black and white pepper in large quantities. In addition, many speculators have actively bought when pepper prices at the bottom, which also contributed to the price increase. In the coming months, when the epidemic is controlled, European and American customers are expected to come back to the market, and pepper prices may continue to rise. However, the price increase is expected to be moderate because there is currently a large global supply of pepper. For example, in Vietnam, production this year is estimated at about 250.000 MT plus 90000 MT of inventory from last year, so the total supply of pepper is 340.000 MT.