At the 43rd Annual Meeting of the International Pepper Community (IPC), Vietnam and India agreed to open a futures pepper trading terminal in Ho Chi Minh City.
At the 43rd Annual Meeting of the International Pepper Community (IPC) opening Monday in Mysuru, Karnataka state – India, Mr. Rajani Ranjan Rashmi, Deputy Secretary General of the Ministry of Trade and Industry, said India. India and Vietnam will work together to open a national-level pepper trading platform for Vietnam in Ho Chi Minh City. The two sides officially signed a memorandum of understanding on this.
Currently, a Vietnamese delegation has visited the Commodity Futures Exchange in Mumbai to study the function of forward trading.
Speaking at the opening session of the IPC Conference, Mr. Rashmi said: “This new exchange will promote transparency in pepper prices … Prices will be more stable through transparency.”
Mr. Rashmi also said that last year the price of pepper has risen quite high and even set a record of 9.90 USD / kg for black pepper and 13.57 USD / kg for white pepper in October. in 2014, and remained high until October. According to statistics, the total export volume of pepper in the world in 2014 was about 278,000 tons, reaching a turnover of 2.3 billion USD.
In addition, Mr. Rashmi also emphasized on standardizing the quality of black pepper, and encouraged the development of the image of pepper into a health product. “Pepper should be processed, packaged and branded as a nutritional product, herbal or cosmetic ingredient,” he said.
In this conference, about 250 delegates from IPC member countries including Brazil, India, Indonesia, Sri Lanka and Vietnam. The meeting will discuss recent advances in pepper farming, production, processing, marketing, quality improvement, pepper product research and development as well as promoting trade cooperation among side.
Source Deccan Herald
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