Cambodian pepper prices nearly doubled thanks to high purchasing from Vietnam

Published Jun 3, 2020

Tridge summary

Cambodia's pepper prices have doubled due to increased Chinese purchases and a 30% increase in Vietnam's pepper prices, reaching over 2 USD / kg. The majority of Cambodian pepper is bought by Vietnamese traders and then sold, especially to China. However, Chinese buyers have stopped purchasing Cambodian pepper due to the price increase, leading to a decrease in Vietnam's pepper prices. The Cambodian pepper industry is currently facing challenges such as drought and high logistic costs, which affect its competitiveness. The Cambodian Pepper and Spices Federation is calling on the government to support the industry as they do for rice.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Cambodia's pepper price increased after it was announced that Vietnam's pepper price last week increased by 30% from a month earlier to more than 2 USD / kg. Currently 80-85% of Cambodian pepper is bought by Vietnamese traders and then sold. According to the Khmer Times, the price of Cambodian pepper has recently doubled due to increased Chinese purchases amid the country's recovery from the COVID-19 pandemic. Photo: Khmer Times Cambodia's pepper price increased after it was reported that Vietnam's pepper price last week increased by 30% from a month earlier to more than 2 USD / kg. Mak Ny, chairman of the Cambodian Pepper and Spices Federation, said rising demand in China and Vietnam had a major impact on Cambodia's pepper market. "Pepper prices in the domestic market are at US $ 2.67 / kg, up from US $ 1.46 / kg," Mak Ny said. He added that last year pepper prices were only about 1.7 to 2.2 USD / kg and people suffered losses due to costs up to 2.5 USD / kg. "The price of pepper ...

Source: Vietnambiz