Pepper prices increased in Vietnam, growers happily welcomed the opportunity

Published 2024년 3월 19일

Tridge summary

Vietnam's 2024 pepper harvest is predicted to yield 10.5% less than the previous year due to climate change and a decrease in pepper growing area, with an expected output of 170,000 tons. Despite this, domestic pepper prices are rising, and while farmers face labor shortages and increased costs, high market prices should ensure good profits. Vietnam's pepper exports in February 2024 showed a slight increase from January but a decrease from the previous year. However, the first two months of 2024 saw a decrease in volume but an increase in value of exports compared to the same period in 2023, with the average export price rising by 28.7%. Vietnam continues to be the largest pepper supplier to the US, increasing its market share to 77.23% in 2023.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Currently, farmers in Vietnam's key pepper growing regions in the Central Highlands and Southeast are entering the 2024 pepper harvest, but the harvest is quite scattered and not much. Due to the effects of climate change, the 2024 harvest will be slower than 2023, combined with a decrease in pepper growing area, so Vietnam's pepper output in 2024 is expected to only reach 170,000 tons, down 10.5% compared to the previous year. 2023. Dan Viet's survey shows that pepper prices in the domestic market are still on an increasing trend from before the Lunar New Year until now. Specifically, pepper prices on March 19 in the Central Highlands region ranged from 93,500 - 95,500 VND/kg; In Binh Phuoc and Ba Ria - Vung Tau provinces, pepper prices are high, reaching 95,500 VND/kg. Present at the 4,000-pillar pepper garden of Mr. Tran Vinh Phong's family (Hoa Tin village, Nhon Hoa town, Chu Puh district, Gia Lai province), several workers were climbing ladders and using their hands to stroke ...

Source: Danviet