At the beginning of the week, pepper prices averaged VNĐ152,700 per kilogramme, nearly 80 per cent higher than at the start of the year and double that of last year.
The pepper prices on July 18 in some key pepper producers of Việt Nam continue to be under downward pressure for the third consecutive day, with the domestic pepper price standing around VNĐ148,000 per kilo.
Experts say that this week the domestic and international pepper prices will not increase as fast as they did last week, but the market is not ready to cool down and it is likely to anchor at over VNĐ120,000 per...
Pepper farmers in south-eastern provinces are being encouraged to switch to organic farming and join co-operative groups as more and more are struggling to earn a livelihood from the spice.
With supply remaining higher than demand in the global market, pepper prices are unlikely to recover this year, according to the Việt Nam Pepper Association.
The Department of Farm Produce Processing and Market Development has forecast that pepper prices will struggle to recover in July and the rest of the year.
Viet Nam''s pepper farmers are on pins and needles as pepper prices continue to decline. The industry, once known for its high profit margins, is in crisis due to unsustainable development, lack of strict control over production and unforeseeable speculation.
The Ministry of Industry and Trade (MoIT) has not discovered price manipulation from foreign traders in the pepper market following Viet Nam’s Pepper Association (VPA)’s blame.
Domestic pepper prices have been fluctuating abnormally from late July until now, with the VPA blaming price manipulating measures used by Chinese businesses.
Within the last ten days, pepper price has fallen from an already low VND82,000 (US$3.65) to VND72,000 ($3.21) per kilogramme, much to the chagrin of pepper farmers in Central Highlands provinces yet they seem unfazed and continue to hold out...
The southern province of Dong Nai exported some 3,100 tonnes of pepper
within the first half of this year, generating US$23 million in
turnover, the provincial General Statistics Office announced.