At the 43rd Annual Meeting of the International Pepper Community (IPC), Vietnam and India agreed to open a pepper futures exchange in Ho Chi Minh City.
At the 43rd Annual Meeting of the International Pepper Community (IPC) which opened on Monday in Mysuru, Karnataka state – India, Mr. Rajani Ranjan Rashmi, deputy chief secretary of the Ministry of Trade and Industry said India Do and Vietnam will collaborate to open a national pepper futures exchange for Vietnam in Ho Chi Minh City. The two sides have officially signed a memorandum of understanding on this.
Currently, a Vietnamese delegation visited the Commodity Futures Exchange in Mumbai to study the futures trading function.
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 had increased quite high and even set a record of $9.90/kg for black pepper and $13.57/kg for white pepper in October. 2014 and remained high until recent October. According to statistics, the total export volume of pepper worldwide in 2014 was about 278,000 tons, worth 2.3 billion USD.
In addition, Mr. Rashmi also emphasized on standardizing the quality of black pepper, and encouraged the image of pepper as a healthy product. “Pepper should be processed, packaged and branded as a nutritional, herbal or cosmetic product,” he said.
In this conference, there were 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, research and development of pepper products, as well as promoting trade cooperation between the two countries. beside.
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