Pepper price hike in Cambodia attributed to high demand from Vietnam
Increased demand from Vietnam has led to a significant recovery in Cambodia’s pepper prices at the beginning of this year’s harvest season, the Phnom Penh Post quoted Cambodia Pepper and Spice Federation president Mak Ny as saying.
Phnom Penh (VNA) – Increased demand from Vietnam has ledto a significant recovery in Cambodia’s pepper prices at the beginning of thisyear’s harvest season, the Phnom Penh Post quoted Cambodia Pepper and SpiceFederation president Mak Ny as saying.
The prices of the spice rose from 9,000 riel to 11,000 riel(2.19 to 2.67 USD) per 550g compared to the same period last year, he said.
According to Ny, the prices have soared since the beginningof May, while the harvest season in Vietnam ended in April.
He assumed the harvest is low, raising concerns of ashortage, as Vietnam is a big market distributor. That’s why the country hasbought a lot of pepper from Cambodia to stockpile, resulting in a price hike,he added.
Ny said the prices of Cambodian pepper started to decline in2018 and the local sector now relies 80 percent on the Vietnamese market andaround 15 percent on the Thai market./.
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