Vietnam price of pepper inched 500 dong / kg after strong increase

Published 2021년 3월 17일

Tridge summary

Pepper prices are increasing, leading to potential profit for farmers and uncertainty for speculators. However, Vietnamese pepper exporting businesses face the risk of contract break as the majority of the pepper is being held by speculators and agents rather than reaching the exporters. In 2020, US imports of pepper from Vietnam increased by 2.5% in volume but decreased by 3.2% in value compared to 2019. The world market sees a sharp increase in the spot price and futures prices for pepper in India.

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

Original content

Price movements of pepper in some raw material areas tintaynguyen.com After many sessions of strong increase, the price today continued to increase but the growth rate slowed down. If pepper prices go up, farmers will benefit, and speculators are not sure, according to Mr. Phan Minh Thong - Chairman of the Board of Directors, General Director of Phuc Sinh Joint Stock Company. Mr. Nguyen Tan Hien - Vice Chairman of Vietnam Pepper Association (VPA) said that the recent hot rise in pepper prices, mainly people do not want to sell. If people sell, the agent will also refuse to sell. In general, goods are in the hands of the people and speculation, and cannot reach the exporter's hands. Meanwhile, more than 90% of Vietnamese pepper is consumed via export sugar. Therefore, Vietnamese pepper exporting enterprises face the risk of contract break because goods are only sold and circulated among speculators, agents and people, not to the exporters. In 2020, the US will increase imports of ...

Source: Vinanet