According to the Vietnam Pepper Association, the price of black pepper in some localities reached 80,000 VND / kg, the highest in 4 years. Pepper prices are expected to continue to increase in the coming time when Vietnam's pepper, the largest pepper exporting country in the world, is not much.
Mr. Tran Duc Tung, Chief of Office of Vietnam Pepper Association, said that currently the good price of black pepper purchased from garden houses is up to 80,000 VND / kg, white pepper is over 100,000 VND / kg, the highest in 4 past year. “The price of pepper is still in a pulling state, but it is beneficial for exporters because the world pepper production is not high while the demand is very high,” Mr. Tung said.
The reason for such a sharp increase in pepper prices, according to Mr. Tung, is that pepper is affected by weather and pests and crop failure in many countries, including Vietnam, Indonesia, Malaysia, India and Brazil. countries that account for 80% of global pepper production.
According to the Vietnam Pepper Association, in the first and second quarter only Vietnam and India provide pepper to the world market. Malaysia and Indonesia have to harvest from August onwards, only Brazil has to come to the end of the year. The productivity and output of pepper in the above countries are forecast to decrease, leading to the oversupply situation and continue to push the price of pepper up.
According to the Ministry of Industry and Trade, this year domestic pepper production is estimated at 90,000 tons, down nearly 20% from the previous year (110,000 tons), due to weather and pests. Especially, the recent drought situation in the Central Highlands has had a strong impact on pepper quality and output. According to experts' forecast, world and Vietnamese pepper prices will continue to increase in the last 6 months of the year, however, the amount of pepper stored in enterprises and growers is not much.
The remaining amount of pepper for export in the second half of 2010 of Vietnam is very low, only about 30,000 tons, down to 40% over the same period last year. Therefore, the Association also recommends that member enterprises from now to the end of the year should closely monitor world market prices and store for sale when prices are at their best; Besides, it is also necessary to pay attention to processing to increase the export value for pepper.
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