Rising Pepper Prices Driven by Supply Shortages and Increasing Shipping Costs

Black Pepper

Published on

Vietnam pepper prices are starting a new upward trend due to several factors. In addition to weather conditions, the primary cause is a supply shortage as many farmers in Vietnam and other major pepper-producing nations have shifted to more lucrative crops. The current price increase is also driven by a shortage of empty containers, leading to a 30% rise in shipping rates in recent weeks. Experts indicate that both domestic and export pepper prices in Vietnam are climbing as the harvest concludes and demand strengthens. Furthermore, the expectation of a declining USD and higher transport costs are contributing to the significant rise in agricultural product prices, including pepper.