| Pepper prices today 3/4: The world anchored at the highest and lowest level of 70,000 VND / kg. (Source: MC) |
Update world pepper prices
World pepper prices were unchanged today from the day before. Recorded at 12:15 on 3 April (Vietnam time), world pepper prices for spot on the online floor NCDEX Kochi (India) traded at Rs 38,636.35 / quintal (lowest) and Rs 39,300 / quintal ( tallest).
The cross rate of Vietnam dong against the Indian Rupee (INR) on April 2 was applied by the State Bank to calculate the export tax and import tax at 314.52 VND / INR.
Domestic pepper prices
Today’s pepper prices in the domestic market were traded at VND 70,000 – 74,500 / kg at localities.
Specifically, today’s pepper prices in Dong Nai and Gia Lai were the lowest on the market at VND70,000 / kg.
Today’s pepper prices in the provinces of Dak Nong, Dak Lak (73,000 VND / kg); Binh Phuoc (73,500 VND / kg) and Ba Ria – Vung Tau were at the highest threshold of 74,500 VND / kg.
Supporting small and medium enterprises and farmers to control pesticide residues in pepper; chain production links; Promoting communication and replicating safe pepper production models are solutions to promote sustainable pepper production and trade in Vietnam for the period 2021-2025.
On March 30, in Hanoi, the Plant Protection Department (MARD), Sustainable Trade Initiative (IDH) and Sustainable Spices Initiative Forum (SSI) signed a Memorandum of Understanding on working together to promote sustainable pepper production and trade in Vietnam for the period 2021-2025.
From 2001 up to now, Vietnam has always held the number 1 position in the world in pepper production and export. In particular, the golden age of pepper is from 2016 to 2018 with the export value of 2018 increasing by 700% compared to 2001 (in 2001, the export of pepper reached 90 million USD, by 2018 this figure has increased. to 758.8 million USD).
However, in recent years, the export value of pepper has decreased significantly, although the export volume is still quite large. One of the main reasons for this situation is the increase in supply by 8-10% while demand increased by only 2%.
Mr. Nguyen Quy Duong, Deputy Director of Plant Protection Department (Ministry of Agriculture and Rural Development), said: “Vietnam is the largest pepper producer and exporter in the world. Vietnamese pepper accounts for about 60% of the total world pepper production.
However, Vietnam’s pepper industry is facing major challenges such as low selling price, lack of sustainability, and failing to meet the ever-tightening requirements of world markets ”.
Mr. Duong said that at present, it is very important to ensure that there are no residues of plant protection drugs in exported pepper products. Sustainable production of the pepper industry is an indispensable requirement.
According to the Deputy Director of the Plant Protection Department, strengthening effective public-private cooperation is an appropriate explanation for this problem on the basis that each side is promoting its strengths. The public sector will assist in creating a favorable policy environment and the private sector will have an active role in connecting markets and ensuring sustainable production meets market requirements and standards.
One of the goals mentioned in the Memorandum of Understanding is that by 2025, about 60,000 tons of sustainably produced pepper will be generated, 75% of exported pepper will meet the needs of developed markets and 25% of farmers have access to safe production models and improved livelihoods.
According to the memorandum, the parties involved are committed to cooperation and coordination in the implementation of the plan to promote sustainable pepper production and trade in Vietnam until 2025.
The Plant Protection Department will act as the focal point to promote the completion of the policy system and capacity in the management and guidance of responsible use of plant protection drugs, promote safe production linkage, and observing food safety and tracing the origin of pepper for export in order to multiply the production scale of pepper, to meet the standards of safe and sustainable production of the market.
SSI is responsible for coordinating with the European Spice Association (ESA) and the American Spice Association (ASTA) on market quality requirements and connecting member companies investing in sustainable production in supply chain in Vietnam.
IDH will act as technical adviser, financial aid, and coordinate international organizations’ support to this public-private partnership effort.
According to BQT – Update 8h5
