On February 05, Vietnamese pepper price fluctuates between 56,000 – 59,000 VND/kg in the domestic market. The pepper market had a slight fluctuation last week, and the main provinces experienced increases of 500 to 1,000 VND/kg compared to the beginning of the week.
Update domestic pepper prices
According to VPA, With the exception of Thursday (Feb 2) and Friday (Feb 3), pepper prices remain largely constant this week. In major provinces, the purchase price increased by 500 to 1,000 VND/kg from the beginning of the week.
The survey shows that Gia Lai province has the lowest price, which is 56,000 VND/kg, up 500 VND/kg. The following 3 provinces are Dak Lak, Dak Nong, and Dong Nai, all of which have the same price of 57,000 VND/kg with an increase of 500 VND/kg.
The price of pepper also increased by 500 VND/kg and 1,000 VND/kg in Binh Phuoc and Ba Ria-Vung Tau, reaching 58,000 VND/kg and 59,000 VND/kg, respectively.
Pepper market highlights last week
According to Mr. Mak Ny, Chairman of the Cambodian Pepper and Spices Federation (CPSF), pepper exports decreased since the COVID-19 pandemic’s effects on the world economy have not yet fully recovered. The demand for consumer goods like pepper has decreased as a result of the lack of tourists.
Due to the devaluation of the Euro against the USD, the majority of European customers using USD to buy pepper that have experienced a slowdown for most companies. In addition, the prolonged crisis in Ukraine also led to a decrease in orders.
This trend will continue this year as traders have started requesting price reductions from Kampot pepper farmers. Farmers, however, continue to disagree due to their low profitability.
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