At the beginning of the current season, there are many analyzes and forecasts that the upcoming price of pepper will go down. However, the Vietnam Pepper Association does not think so and recommends businesses and farmers to be careful in dealing with foreign countries to avoid losses.
During a business trip in Binh Phuoc province on February 14, Mr. Tran Duc Tung, Chief of Office of Vietnam Pepper Association, said that black pepper price is currently at 115,000 VND / kg, about 15% higher than at the beginning of last year's crop.
According to Mr. Tung, the beginning of the harvest with high prices plus the forecast of world supply this year will make pepper prices from July and August onwards increase sharply.
“However, pepper exchanges around the world are providing opposite information, and the price of pepper delivered in June is lower than the current price, creating a concern of not selling, the price will go down. If Vietnamese enterprises do not count carefully, they will be trapped by the above information, ”he said.
In the world, India and Vietnam are the two biggest pepper exporting countries. “Speculators want to rely on this information to bring prices down, buying to collect in the middle of the year, when scarce pepper prices start to increase, they release products to sell,” he added.
The association said Vietnam's pepper is exported to 80 countries and territories, but mainly consumed in Europe (40%) and Asia (40%).
According to the General Department of Customs, pepper exports in January this year reached 3,435 tons with a turnover of US $ 24 million, down about 28% in volume but up 3% in turnover over the same period last year.
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