In the year 2020 due to Covid-19 global demand was subdued. Despite the global pandemic markets rose so it rises in a normal year should actually not be a surprise due to people are seeing normalization of markets combined with growth. However, International Pepper Community has concerned about Viet Nam pepper markets which have risen in an unprecedented manner in the last 30 days after Tet festival. The current situation is not certain to have a good business plan. It is advisable for stakeholders to observe markets movement closely and calm down to wait for markets itself to adjust which helps avoid taking unexpected risks.
After Viet Nam Tet Holiday up to now, Viet Nam pepper local price was reported with an increase of 22% when compared to the opening price after Tet Holiday in the range of VND 62,000-75,000 per Kg. Viet Nam black pepper 500 g/l and 550 g/l were reported with an increase of 32% and 27% respectively as compared to the opening price after Tet Holiday, averaging at USD 3,700 per Mt and 3,800 per Mt respectively. Furthermore, Viet Nam pepper price in US market was reported with an increase of 31% as opposed to the opening price after Tet Holiday, averaging at USD 1.90 per Lbs. More details are presented as table below: