Many experts believe that pepper growers have higher incomes than farmers who grow other agricultural products and are least subject to price pressure in Vietnam.
In recent years, the sharp increase in pepper prices has helped pepper growers improve their income, especially they have accumulated capital to temporarily store goods when prices are low.
According to statistics of the Ministry of Agriculture and Rural Development, at this time pepper prices are at 138,600-142,000 VND/kg, an increase of about 5,000 VND/kg compared to the previous month. Prices increased because farmers stopped selling. The current price is still lower than the same period in 2015 from 30,000 – 40,000 VND/kg, so most farmers are not in a hurry to sell but continue to keep their goods waiting for better prices.
The domestic pepper market experienced many fluctuations, in mid-March 2016 it was only 130,000 VND/kg, then increased to 180,000 VND/kg in May, but from August until now, the price has tended to decrease gradually.
Pepper exports in 2016 achieved a growth of 34% in volume and 13% in value, equivalent to 177,000 tons and 1.42 billion USD compared to 2015.
Markets with strong increase in export value: Pakistan increased by 3.14 times, the Philippines increased by nearly 3 times. The largest consumers of Vietnamese pepper are the US, the United Arab Emirates, India and Germany.
Despite a strong increase in volume, the average export price of pepper in 11 months also decreased significantly by nearly 16% compared to 2015, reaching an average of $8,062/ton. The price of pepper decreased largely because the quality of Vietnam’s pepper did not meet the quality requirements of fastidious markets.
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