Survey of pepper growing provinces in Binh Phuoc and the Central Highlands provinces
May 27, 2020
Domestic pepper prices continued to increase in many localities and reached 50,000 VND / kg.
Pepper prices have increased continuously but remain low
PHOTO: Đ.N.THACH
Center for Industry and Trade Information (Ministry of Industry and Trade) said that pepper price in all key areas in the Central Highlands today (27.5) simultaneously increased by 3,000 – 3,500 VND / kg, bringing the pepper price to a peak of 50,000. VND / kg. Specifically, Dong Nai pegged at VND 48,000 / kg; Gia Lai at 48,500 VND / kg; Dak Lak, Dak Nong and Binh Phuoc at VND 49,000 / kg; Ba Ria-Vung Tau at the highest level of 50,000 VND / kg.
On the world market, at Kochi floor (India), spot price closed at 32,500 rupees / quintal (corresponding to the exchange rate of VND 10 million / quintal). In some major producing countries, pepper production remained high. Although pepper price remained stable, the trading volume was not much. Farmers do not want to sell at current prices, so it does not bring the goods to primary markets.
According to the Center for Industry and Trade Information, in recent sessions, pepper prices have shown signs of prosperity, but many pepper farmers are still in difficulties. The reason is that before, pepper continued to lose price and crop failure, making pepper gardens less well-cared for, resulting in a large area of pepper being killed. At present, the demand for pepper of businesses has increased sharply, while people have limited sales, causing the price of pepper to increase. However, compared to the peak price of nearly 200,000 VND / kg, this product has continuously dropped. prices in more than 3 years made many farmers struggling.
In India, pepper output this year is forecast to increase 20,000 tons compared to 2019, to 65,000 tons. In Vietnam, this year production is estimated at about 250,000 tons. Plus 90,000 tons of inventory from last year, the total supply of pepper is 340,000 tons. According to forecasts of some pepper exporting units, in the coming months, after the Covid-19 epidemic is under control, European and American customers … will return to the market, along with the reduction of pepper production in Vietnam. Significantly also made pepper more likely to increase.
