Pepper prices increased at the end of the season

​(News Portal – Dong Nai) – During this year's harvest, pepper farmers are excited because they can sell it at a higher price than the previous one. In particular, pepper prices suddenly increased to a record high at the end of the season.  

Harvesting pepper in Cam My district  

​Specifically, the current price of pepper sold by farmers at the garden ranges from 91-92 thousand VND/kg. The price of pepper after receiving quality bonuses ranges from 96-98 thousand VND/kg, an increase of more than 20 thousand VND/kg compared to the beginning of the season. Due to the adverse effects of weather, this year's harvest has resulted in many pepper growing areas in the province suffering low productivity, down about 20-30% compared to last year's crop. But the main reason is that the area of this crop has decreased sharply after many years of low pepper prices. In Dong Nai alone, the total area of pepper is currently only nearly 10.8 thousand hectares, down nearly 9 thousand hectares compared to the time when this crop had the largest area a few years ago. Meanwhile, in the first months of 2024, exports of this product considerably grew. As supply has decreased while market demand has increased, causing the price of this item to continuously escalate in recent times.  ​​