(March 23) – The decrease in pepper prices due to abundant supply along with a lack of harvesting workers has contributed to pulling pepper prices right in the harvest season to the bottom.
Cu Kuin district farmers harvest pepper
The Vietnam Pepper Association (VPA) has estimated that this year’s pepper productivity will drop sharply, possibly up to 30% due to unfavorable weather and many pepper growing areas damaged by pests and diseases. plan is insignificant.
The decrease in productivity and record low prices not only made the garden owner depressed, but the harvesting workers also appeared sluggish and negative when seeing the low efficiency of the workday, so they looked for other jobs to get inspired. more labor. At this time, in many key pepper growing areas in the Central Highlands, to attract and motivate workers, garden owners have applied the method of sharing harvested products instead of paying wages. It is quite common that the share between the gardener and the harvester is up to 50/50.
A local trader said that if in previous years the gardener only needed to sell a small amount of pepper to pay the picking fee, this year, he would have to sell two or three times more. People who pick pepper also have no need to store it, so the divided pepper is sold immediately. Not only that, the domestic supply of pepper has increased sharply, causing the price of pepper to drop dramatically, but also a large amount of pepper from Cambodia that is bought by export traders in the South across the border also contributes to the price of pepper in the country. the water falls deeply.
However, the above-mentioned phenomenon of division is only common in pepper gardens with small area, low productivity, little care, and planting according to the movement. As for pepper gardens with a large area, garden owners with financial potential and carefully invested are still relatively stable. The Vietnam Pepper Association (VPA) forecasts that the output of this year’s pepper crop will be in the range of 180,000-200,000 tons and said that traders are not in a hurry to buy pepper like every year, so supply pressure continues to make prices fall further.
The market report of the International Pepper Association (IPC) last week showed that most of the export prices of black pepper in pepper producing countries were relatively stable while white pepper prices fell slightly.
In India, yesterday spot pepper price increased slightly by Rs 100 per quintal to Rs 38,000/quintal (US$5,828/ton) for bucket pepper and Rs 40,000/quintal (US$6,134/ton) for pre-processed pepper. .
While pepper prices on the NCDEX – Kochi floor fell slightly, April delivery fell by Rs 55, to Rs 40,190 per quintal and for May delivery fell Rs 50 to Rs 40,410 per quintal (equivalent to $6,164 per tonne and $6,197). /ton).
According to market sources, Vietnamese pepper for export is still offered for sale at a stable price, while the domestic market has appeared a small speculative buying force, which also contributed to the slowdown in the decline.
This morning Friday, March 23Bucket pepper price in the Central Highlands region still fluctuated between 50,000 – 52,000 VND/kg, unchanged from yesterday, the price of pepper in Ba Ria – Vung Tau increased slightly by 1,000 VND to 54,000 VND/kg.
It is expected that domestic pepper prices will stabilize through the beginning of next week.
*According to the report of the General Department of Vietnam Customs, exports in the first half of March 2018 reached 11,892 tons of pepper of all kinds, with a turnover of 43.75 million USD, down 12.82 % in volume and 46 %. 78% in value over the same period last year. The average export price of pepper in the period reached 3,679 USD/ton, down 1.34% compared to the average export price in February 2018.
*Exchange rate: 1 USD = 65.2056 Rupees.
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