Agricultural prices on December 12, 2022 in Vietnam: Coffee and pepper simultaneously decreased

On December 11, 2022, Vietnam saw a range of agricultural product prices, with coffee reaching a high of 40,800 VND/kg and pepper reaching a high of 62,000 VND/kg across various provinces. However, last week saw a slight decrease in domestic coffee prices and a significant drop in pepper prices. On the global market, Robusta and Arabica coffee prices remained stable, but there is concern about the global coffee market due to abundant supply and slow demand. Meanwhile, the global pepper market faces risks from a potential global recession, unpredictable climate change, pest problems, and strict regulations, but mechanisms are in place to mitigate these challenges through farming contracts, free MRL standards, and industry cooperation.

Additionally, farmers are encouraged to improve their farming knowledge through training courses to produce better quality pepper and command better prices. The pepper industry is also urged to produce more value-added products to benefit all stakeholders.