Pepper prices are forecast to struggle to recover in July and the rest of the year (Source: VNA) Hanoi (VNS/VNA) - The Department of Farm Produce Processing andMarket Development (DFPPM) under the Ministry of Agriculture and RuralDevelopment (MARD) has forecast that pepper prices will struggle torecover in July and the rest of the year.
Many pepper farmers have shifted to other cropsdue to the continuing decline in prices and outbreaks of diseases.
The DFPPM suggested helping farmers andproducers to form cooperatives and associations to provide technical trainingand ensure consumption.
Planning was also needed to stop pepper farmersfrom growing huge crops as in previous years. In addition, localities need topromote and build brand names for each region to develop sustainably, the DFPPMsaid.
Drop in pepper prices
The Import-Export Department under the Ministryof Industry and Trade has announced recent drops in pepper prices in June.
The price of black pepper on the domestic marketdecreased by between 4.4 percent and 7 percent compared to the previous month.The lowest price was 53,000 VND (2.3 USD) per kilo in Dong Nai province, whilethe highest price 55,000 VND per kilo in Ba Ria – Vung Tau province.
The price of white pepper stood at 97,000 VNDper kilo in June, stable compared to May, but lower than the 117,000 VND perkilo in the same period last year.
Pepper prices have fallen due to abundantsupplies. In the first six months of 2018, prices fell by 16,000 to 17,000 VNDper kilo compared with the end of 2017.
According to the latest research conductedby Vietnam News, on July 10, pepper prices reached a low in Gia Laiof 51,500 VND per kilo, but peaked in Ba Ria-Vung Tau at 54,000 VND each kilo.
In recent years, the growth of pepperplantations has risen, reaching about 152,668ha and exceeding a plan for 2030set by MARD by more than 300 percent. According to the Vietnam PepperAssociation, oversupply and falling prices mean Vietnam should reduce itsblack pepper plantations by 26.7 percent.
Pepper exports down
In terms of exports, pepper in June totaled 23thousand tonnes valued at 75 million USD, down 0.4 percent in volume and down0.2 percent in value against May; and up 0.3 percent in volume but down 30.7 percentin value against the same period last year.
In the first half of 2018, pepper exports wereestimated at 133,000 tonnes, valued at 457 million USD, up 5.9 percent involume but down 35.7 percent in value.
In June, the average export price of pepper wasestimated at 3,261 USD per tonne, up 0.2 percent compared to May 2018, but down30.9 percent from June 2017. In the first six months of 2018, the average exportprice of pepper was about 3,439 USD per tonne, an on-year decrease of 39.3 percent.
The Import-Export Department forecasts pepperprices will continue to fall due to oversupply. According to the InternationalPepper Community, over the past five years, stockpiles have increased by about20,000 tonnes a year. It is expected that in 2018, pepper inventory from theprevious crop will reach about 104,000 tonnes.-VNS/VNA
Many pepper farmers have shifted to other cropsdue to the continuing decline in prices and outbreaks of diseases.
The DFPPM suggested helping farmers andproducers to form cooperatives and associations to provide technical trainingand ensure consumption.
Planning was also needed to stop pepper farmersfrom growing huge crops as in previous years. In addition, localities need topromote and build brand names for each region to develop sustainably, the DFPPMsaid.
Drop in pepper prices
The Import-Export Department under the Ministryof Industry and Trade has announced recent drops in pepper prices in June.
The price of black pepper on the domestic marketdecreased by between 4.4 percent and 7 percent compared to the previous month.The lowest price was 53,000 VND (2.3 USD) per kilo in Dong Nai province, whilethe highest price 55,000 VND per kilo in Ba Ria – Vung Tau province.
The price of white pepper stood at 97,000 VNDper kilo in June, stable compared to May, but lower than the 117,000 VND perkilo in the same period last year.
Pepper prices have fallen due to abundantsupplies. In the first six months of 2018, prices fell by 16,000 to 17,000 VNDper kilo compared with the end of 2017.
According to the latest research conductedby Vietnam News, on July 10, pepper prices reached a low in Gia Laiof 51,500 VND per kilo, but peaked in Ba Ria-Vung Tau at 54,000 VND each kilo.
In recent years, the growth of pepperplantations has risen, reaching about 152,668ha and exceeding a plan for 2030set by MARD by more than 300 percent. According to the Vietnam PepperAssociation, oversupply and falling prices mean Vietnam should reduce itsblack pepper plantations by 26.7 percent.
Pepper exports down
In terms of exports, pepper in June totaled 23thousand tonnes valued at 75 million USD, down 0.4 percent in volume and down0.2 percent in value against May; and up 0.3 percent in volume but down 30.7 percentin value against the same period last year.
In the first half of 2018, pepper exports wereestimated at 133,000 tonnes, valued at 457 million USD, up 5.9 percent involume but down 35.7 percent in value.
In June, the average export price of pepper wasestimated at 3,261 USD per tonne, up 0.2 percent compared to May 2018, but down30.9 percent from June 2017. In the first six months of 2018, the average exportprice of pepper was about 3,439 USD per tonne, an on-year decrease of 39.3 percent.
The Import-Export Department forecasts pepperprices will continue to fall due to oversupply. According to the InternationalPepper Community, over the past five years, stockpiles have increased by about20,000 tonnes a year. It is expected that in 2018, pepper inventory from theprevious crop will reach about 104,000 tonnes.-VNS/VNA
VNA
