With the bold decision of a farmer who has never been a commodity speculator, Hung in Chau Duc (BRVT) has become famous in the region for his “surfing” of pepper.
Like many other families in the district that grows the most pepper in the country, Mr. Truong Van Hung (Lang Lon commune, Chau Duc district, Ba Ria-Vung Tau) has some land for both pepper and coffee and fruit trees. In the past few years, thanks to expensive pepper, he has built a spacious house, purchased many modern amenities…
Hung said, this year, after the harvest season, he sold a little less to spend, and left more than 3 tons. Many times the price fluctuated up and down, he was worried. On August 5, the trader offered 115,000 VND, he and his sister’s family living next door decided to sell socks, totaling 5.2 tons, for over 640 million VND. After traders arrived at the house to deliver money, pepper prices began to plummet.
There’s nothing to say if things stop there. Just a few days later, pepper prices started to rise again. What bothers and regrets Hung is that on the internet, newspapers and television have the same opinion: “World pepper prices have not shown any signs of stopping”. Impatiently, he and his sister’s family decided to buy back the sold pepper, priced at 130,000 VND/kg on August 20, exceeding the price that traders are buying in the area by 2,000 VND.
With the bold decision of a farmer who has never been a commodity speculator, only accustomed to planting, harvesting and selling, now Hung has suffered a loss of more than 75 million dong to regain the sold pepper. However, his assessment this year was correct when yesterday, September 16, the price of pepper was up to 147,000 VND/kg, 17,000 VND higher than when he bought it 1 month ago. This price is considered to be near the peak, he is determined to call traders to sell out, profit 90 million dong.
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