Pepper prices in the southern province of Kien Giang’s Phu Quoc Island have have fallen sharply, causing difficulties for pepper farmers on the emerald island.
Viet Nam’s output and export of pepper increased sharply last year, but their prices and thus turnover from exports fell, according to the industry association.
Industry leaders have called on distraught and anxious pepper farmers to remain calm and refrain from selling their produce at low prices, saying the current price plunge is most likely a fleeting phenomenon.
The purchase price of dried pepper ped on Tuesday by VND10,000 per kilo to VND95,000-100,000 per kilo in Dak Lak, Gia Lai and Dak Nong provinces against last week.
The destruction of pepper in the Central Highland and East Southern
regions of Viet Nam is expected to drastically reduce the production
volume and increase the price of the crop.