Pepper prices have been skyrocketing to the highest level since 2018 – but with a lack of supply, many pepper growers have put little trust in the black seeds and even reduced plantations to be less dependent on the fluctuating market.

Vietnam’s pepper export prices are soaring, causing domestic material selling prices to double. Experts believe that the golden days of “black gold” are returning.

The price of pepper, known as black gold, is increasing sharply. However, Vietnam’s pepper growers are not sure how long the price will be maintained.

The Ministry of Industry and Trade will send a delegation to Egypt to study investment in logistics and promote trade in the second biggest economy in Africa from December 1-6.

VietNamNet Bridge - The price of pepper, which Vietnamese farmers call ‘black gold’ as it brings billions of dollars of export turnover each year, has fallen dramatically.

VietNamNet Bridge - Vietnam’s pepper industry is sustaining a blow in the face of a surplus in the world market.

VietNamNet Bridge - Analysts have repeatedly warned about the falling pepper export price, which has led to a drop in export turnover, despite a rise in export volume.

Vietnam is in the peak harvest season for the 2018 pepper crop, but sharp price falls and market problems all signal a challenging year for the pepper industry.

VietNamNet Bridge - The pepper output and inventory level around the world is on the rise, while emerging export countries are trying to expand growing areas and increase exports at competitive prices, putting pressure on Vietnamese farmers. 

The Ministry of Industry and Trade (MOIT) and the Ministry of Agriculture and Rural Development (MARD) are working with Indian counterparts on the removal of the country’s ban on imports of six agro-products from Vietnam.

VietNamNet Bridge - Vietnamese farmers have been warned that Chinese businesses might play nasty tricks in an attempt to control the Vietnamese pepper market.

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