Vietnam's pepper and spices increased in price unprecedentedly. These are 3 markets that suddenly attracted goods

Published May 23, 2024

Tridge summary

Pepper prices in Vietnam's main growing areas have reached a two-year high, with the price in Dak Lak province reaching 115,000 VND/kg. The Vietnam Pepper and Spice Association reported a decrease in pepper exports but an increase in value due to high export prices. The US market saw a sharp increase in pepper exports, while the Chinese market decreased by 95%. India is the largest Asian importer of Vietnamese pepper, and exports to American countries also increased significantly. The European region accounted for 26.8% of Vietnam's pepper export market share, with the German market seeing a 104.7% increase. The proportion of processed pepper exports, such as ground black and white pepper, has increased in the first quarter of 2024.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

As recorded by reporter Dan Viet, pepper prices today (May 22) in Vietnam's main pepper growing areas continued to increase from 2,000 - 3,000 VND/kg and reached a new highest price in the last 2 years. Specifically, in the Central Highlands region, today's pepper price in Dak Lak reached 115,000 VND/kg, an increase of 2,000 VND/kg compared to yesterday. In Gia Lai and Dak Nong, the price of pepper being purchased by traders is at the same level of 115,000 - 116,000 VND/kg, an increase of 2,000 - 3,000 VND/kg compared to the previous day. Today's pepper price in Ba Ria - Vung Tau is currently at the highest level, reaching 117,000 VND/kg (see table). In Quang Phu town, Cu M'Gar district (Dak Lak province), Ms. Nguyen Thi Long's family has been doing agricultural business for decades. In the 2024 pepper harvest season, her family purchases about 20 tons of pepper every day, down 20-30 tons/day compared to previous years. According to Ms. Long, the purchasing output decreased ...
Source: Danviet
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