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Wednesday, June 26, 2024

Pepper market excitement

By Nguyen Quang Binh

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The Vietnamese pepper harvest is on the horizon, with Tet (Lunar New Year) fast approaching. Farmers are filled with optimism as pepper prices began to rise in mid-2023, setting the stage for a joyous Tet celebration. The price of black pepper has experienced intermittent surges, reaching as high as VND90 million per ton, up from a low VND65 million per ton. Farmers residing in Kien Giang Province, renowned for its Phu Quoc pepper and being the largest pepper cultivation region in the Southeastern and Central Highlands, are looking forward to a prosperous Tet season. Anticipating a prosperous pepper market In the months leading up to the pepper harvest in Vietnam, both domestic and international pepper markets have been exhibiting signs of buoyancy, regardless of occasional price fluctuations. This phenomenon is quite understandable since Vietnam is the world’s largest producer and exporter of pepper. Consequently, any news, be it favorable or unfavorable, about the Vietnamese pepper crop has a substantial impact on pepper purchasing and export prices, influencing both domestic and global markets. For the upcoming 2024 pepper crop, there are promising indicators that are significantly affecting the raw pepper prices within the domestic market. Data from the General Department of […]
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