The recent surge in pepper prices in Vietnam is driven by the return of Chinese traders and market speculation, leading to erratic price fluctuations. This situation benefits farmers but poses challenges for intermediary businesses due to limited supply and high purchase costs. Despite being a top exporter, Vietnam's pepper market is largely controlled by FDI enterprises, with the Vietnam Pepper Association keeping an eye on potential market manipulation by Chinese businesses. The Ministry of Agriculture and Rural Development has reported a 10% decrease in pepper output due to El Nino and is urging farmers to adopt sustainable farming practices. Speculation has caused rapid price increases and subsequent drops, affecting small and retail units.