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October 5,2020

PEPPER PRICES INCHED SLIGHTLY BY 2.2 cent/kg

On last weekend (3rd October 2020), the Vietnam pepper market has give a slight increase of 2.2cent/kg (according to tintaynguyen.com)

 

 

The lowest transaction standard is 2.07 usd/kg currently recorded in Gia Lai province. Pepper prices in the localities include Dak Lak, Dak Nong, Binh Phuoc and Ba Ria- Vung Tau stays stable at the range of 2.12-2.2 usd/kg. Besides, the average pepper price today still remains stable at 2.12 usd/kg
According to a senior official of the Ministry of Commerce of Cambodia, the government is currently drafting pepper policies with the aim of broadening its competitive advantage, attracting investors and increasing added value for production of Cambodia pepper.

Mr Va Rothsan, senior advisor of the Ministry of Commerce, said that pepper prices in the world, especially in Cambodia, have decreased significantly over the past 3-4 years. The main reason is that the supply is too high while the demand is quite low.

blackpeppercornswoodenspoon19102016
(internet)

According to statistics, pepper prices decreased from 9-10 USD/kg in 2016 to 2.5-3 USD/kg in 2018 and only 1.5-2 USD/kg in 2019-2020. However, production cost is still at 2.59 USD/kg.

 

For this reason, many pepper growers and pepper processors have cut down on labor, limited maintenance on farms and some have even given up growing pepper to switch to other crops, according to Khmer Times. 

source: Vietnam Pepper Association

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