Pepper harvest at Loc Phat cooperative in Loc Hiep commune, Loc Ninh district, Binh Phuoc province (Source: VNA)
HCM City (VNA) - The price of pepperin Vietnam has gone up and down recently, allegedly due to unexpected Chinesepurchases.
According to the Vietnam Pepper Association(VPA), the pepper market has witnessed fluctuations of between 10-20 percent inpepper prices since late July.
Tran Huu Thang from Xuan Tho commune, Xuan Locdistrict, the southern province of Dong Nai said the pepper price in theprovince hit 95,000 VND (4.18 USD) per kg on August 8, climbing from 75,000 VND(3.3 USD) per kg a month ago. Sometimes, the pepper price moved by 10,000 VND(44 cents) a day, Thang said.
According to pepper exporters, a group ofChinese businessmen offered to buy a large quantity of pepper at any price, andasked local businesses to deliver the goods as soon as possible, prompting thebusiness to purchase from farmers at higher prices.
At the same time, the Chinese businessmen hadpromised to sell pepper to local dealers at low prices. However, they only solda small amount at low prices, then raised the price claiming scarcity.
Hoang Phuoc Binh, Vice President of the Chu Sedistrict’s VPA chapter in the Central Highlands province of Gia Lai said the Chinesetricks were not new, however, farmers and local businesses still fell for it.
Nguyen Mai Oanh, VPA Vice President said theassociation has called on its members to be cautious when dealing with Chinesepepper traders.
According to the Ministry of Agriculture andRural Development, in the first seven months of this year, Vietnam exported145,000 tonnes, worth 800 million USD, up 20.4 percent in volume, yet falling18.2 percent in value year on year.
The average export price of pepper in the firsthalf this year was 5,662.6 USD per tonne, a fall of nearly 30 percent year onyear.-VNA
Measures to develop the pepper sector sustainably were discussed at a forum jointly held by the National Agricultural Extension Centre (NAEC) and DARD of Dak Nong on June 7.
The Ministry of Agriculture and Rural Development (MARD) will soon issue Production Unit Codes (PUCs) to areas that qualify to produce peppers for export, said Deputy Minister Le Quoc Doanh on June 8.
Over the last ten days, pepper prices have fallen from an already low 82,000 VND (3.65 USD) to 72,000 VND per kilogramme, but pepper farmers in the Central Highlands continue to hold out for higher prices.
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With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
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Pepper harvest at Loc Phat cooperative in Loc Hiep commune, Loc Ninh district, Binh Phuoc province (Source: VNA) 
