Indonesia and Vietnam have agreed to work together to find a stable way pepper prices in the international market, thereby raising its position to become the two biggest pepper supplying countries in the world.
The two sides reached an agreement during a meeting between Indonesian President Joko Widodo and General Secretary Nguyen Phu Trong on August 23, 2017. The meeting was part of a two-day visit to Jakarta in the capital of General Secretary Nguyen Phu Trong.
Mr. Jokowi said at the meeting: “As a major producer of pepper and rubber in the world, we agreed to take tough measures to control and maintain the stability of commodity prices, as well as improving the quality of goods of the two countries ”.
In recent months, pepper In the world in general and in Vietnam, Indonesia in particular has continuously reduced prices and is currently trading at relatively low prices compared to the first months of this year.
According to Nedspice Sourcing Spices Company, recently, pepper prices plummeting but not so strong as the previous historical plunge of pepper and other commodities. During the most critical period of the pepper market, the price of this commodity fell by an average of 78%.
Currently, black and white pepper in the market are priced at 4,000 and 7,500 USD / ton respectively, down about half compared to the price recorded in 2015. The reason is, Vietnam and Brazil also increased their production sharply. amount of pepper.
According to Nedspice, Vietnam, which accounts for about 40% of global pepper production, is expected to produce 210,000 tons of pepper this year, an increase of 27% compared to last year.
Meanwhile, the output of Indonesia's pepper, the world's second largest pepper producer, is also forecast to increase 4.6% from last year to 68,000 tons this year.
Source Mard.gov.vn
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