On March 29, 2017, the Ministry of Industry and Trade officially issued Decision 1071 / QD-BCT, adding the pepper commodity to the list of goods traded at the Vietnam Commodity Exchange ( VNX), bringing Vietnam's pepper industry to a more professional step in global trade.
Read more : >> Open term pepper trading floor in Ho Chi Minh City
At present, Vietnam Pepper has accounted for about 60% of the global trading volume, therefore, Vietnam's pepper price always has a great influence on the world pepper price. The introduction of pepper commodities through VNX will help pepper commodities trade not only through the Vietnam Commodity Exchange but also through that connection with the world-wide GDOs to help transparency of information and reduce risks in sales transactions, help with price insurance.
Since 2014, the issue of setting up the PFA has been discussed by the Government of Vietnam (Represented by the Ministry of Agriculture and Rural Development) and the Government of India to discuss and develop a mechanism to provide technical assistance for the two biggest pepper producing countries. can coordinate to regulate the world pepper market.
According to the Domestic Market Department / Ministry of Industry and Trade, the addition of pepper to the list of goods traded through the Department of Education and Training is extremely beneficial to Vietnam's pepper industry, however, according to the Legal Department / Ministry of Industry and Trade, So far, goods transactions through the Department of Education and Training are still inadequate due to Decree 158/2006 / ND-CP, only when amending some of these regulations can create a legal corridor enough to the floor operates effectively, so the Ministry of Industry and Trade will continue to submit to the Government the content of amending and supplementing Decree 158 so that the trading on the floor will be convenient and feasible.
Thus, along with rubber and coffee, pepper was the third agricultural commodity to join the commodity trading floor.
The categories of pepper allowed to be traded via VNX floor include types of Black Pepper and ground white pepper, not crushed, Code H.S 090411 and types of Black and White Pepper ground, crushed, crushed, Code H.S 090412.
Source VPA (peppervietnam.com)
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