Does the scenario of sharp rise in pepper prices repeat at the end of June?

Published 2020년 6월 9일

Tridge summary

The article highlights the significant increase in pepper prices in Vietnam, particularly in regions such as Ba Ria Vung Tau, Dak Lak, Dak Nong, Dong Nai, and Gia Lai, due to heightened global demand, especially from China. This surge has been influenced by speculative activities and the positive impact on the global pepper market. However, experts caution that these price increases may be unsustainable due to lower prices in Indian markets and stable prices in competitors like Brazil and Malaysia. The article also points out the uncertainties in the market due to misinformation and disruptions caused by the COVID-19 pandemic. The pepper market's future direction remains uncertain, with predictions suggesting a potential return to lower prices in the future.

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

Original content

According to some experts in the market, there is information disturbance, especially in Dak Lak. Therefore, it is difficult to predict whether the scenario will repeat as the end of May or not because recently, speculators brought many rumors to raise prices. According to the Department of Processing and Agricultural Product Market Development in May, the demand for pepper imports has increased sharply in some countries around the world, especially from the Chinese market, which has supported the price increase of pepper. Moreover, many speculators have boosted buying activities when the price of pepper at the bottom also has a positive impact on the global pepper market. Specifically, in Ba Ria Vung Tau, Dak Lak, Dak Nong and Dong Nai increased VND 5,500 / kg to VND 43,000 - 45,000 / kg. Pepper price in Gia Lai increased by VND 6,000 / kg to VND 43,500 / kg. The Department of Agro-Products Processing and Development said that the demand for pepper of businesses increased ...

Source: Vietnambiz