return icon Vietnamnet.vn

Price of Vietnamese pepper soars after two years at record low

After a long period of sinking to the bottom and causing big losses for farmers, the price of pepper, often called "black gold", has skyrocketed.

{keywords}

 

The image of ripening pepper fields going unharvested because of a lack of sales lasted for three years. But that has changed.

Farmers in pepper growing areas of Gia Lai, Ba Ria – Vung Tau and Dong Nai these days are busy picking pepper for sale as the prices are increasing sharply.

Nguyen Van Nam, a pepper grower in Lam San commune in Dong Nai province, said petty merchants have ordered at VND73,000 per kilogram, so he has had to hire 10 workers to harvest pepper for delivery.

Nam said pepper growers have been facing difficulties in the last few years because the price plummeted. Many farmers decided to chop down pepper trees to cultivate other crops.

In late February, the price was at VND50,000 per kilogram and he did not feel like harvesting. But the prices unexpectedly soared to over VND70,000 per kilogram recently. Farmers are rushing to harvest pepper and sell immediately, fearing that the price may go down again in some days.

With the current prices, he will make a small profit. “The harvesting will finish by the end of March. I hope that pepper prices will continue rising which allows us to earn big money to offset the losses incurred in the last two years,” Nam said.

Nguyen Tan Cong in Nam Yang commune of Gia Lai said he is happy as prices have increased. He has been trying to maintain his five hectares of organic pepper though prices fell in the last two years.

“The prices have skyrocketed since early March. Some farmers don’t even have pepper to sell,” Cong said.

In general, merchants pay VND10,000-15,000 per kilogram more for organic pepper. Cong said ‘clean pepper’ cultivated with a standardized process is more favored and businesses have collected all the pepper he has.

The price increases have also been seen in Central Highlands, the eastern part of the southern region, and Ba Ria–Vung Tau. Just within half a month, the price surged to VND70,000-73,000 per kilogram.

In Chau Duc district of Ba Ria – Vung Tau, for example, pepper is being traded at VND73,000 per kilogram. Some farmers said as this year’s output is lower than last year, the price will continue increasing.

The General Department of Customs reported that Vietnam exported 30,291 tons of pepper in the last two months, a decrease of 25.3 percent from the same period last year, while export turnover was $87.56 million, a drop of 6.5 percent. 

Ninh Tich

Online stalls help ‘rescue’ farm produce in North

Online stalls help ‘rescue’ farm produce in North

Hai Duong’s first farm produce, including cabbage and chicken eggs, are being sold on voso.vn, an e-commerce website, while an online stall distributing Hai Duong’s produce has been set up.

Pandemic turns Hai Duong farm produce into waste

Pandemic turns Hai Duong farm produce into waste

People in the northern province of Hai Duong are calling for help as their farm produce distribution networks have been disrupted since social distancing was imposed in the locality.

MORE NEWS

EuroCham Chairman praises strong and forward-looking government

Vietnam’s recovery has been ensured by strong and forward-looking government support which helped to bring in more high-profile FDI projects

Many firms suspend raising capital from stock market

Many enterprises have either stopped mobilizing capital or changed their capital-raising plans on the stock market amid existing uncertainties and disadvantages.

HCM City runs out of Covid-19 vaccines

HCM City has run out of Covid-19 vaccines over the past 10 days, said Nguyen Hong Tam, the deputy director of the municipal Centre for Disease Control and Prevention.

VIETNAM NEWS HEADLINES SEPTEMBER 30

Chinese police hand over wanted man to Lao Cai authorities

Foreign-invested enterprises face up to procedural barriers

Administrative procedures such as a prolonged timeline for obtaining business licences, as well as overlaps in the legal framework, are continuing to affect the expansion plans of many foreign-invested enterprises in Vietnam.

Reisereporter.de: Vietnam among ten attractive destinations to escape Europe’s winter

With its year-round warm tropical climate, breathtakingly beautiful scenery, and exciting culture, Vietnam is gradually becoming an attractive destination for German tourists.

VIETNAM BUSINESS NEWS SEPTEMBER 30

Real estate sector faces debt default risk

Shan Tuyet tea, valuable timber plants named ‘Vietnam Heritage Trees’

More than 1,300 Shan Tuyet tea plants in Ha Giang province and a group of valuable timber trees in Dak Nong province have been recognised as “Vietnam Heritage Trees”.

Fast fashion brands scale up for growth

Surviving and developing in a competitive fast fashion market remains a challenge for many brands, especially for newcomers.

Arguments arise as properties required to be traded on exchange

Controversy has arisen over the Ministry of Construction’s draft of the amended law on real estate trading as it requires real estate products to be traded on an official exchange.

Boeing accelerates cooperation with Vietnamese suppliers

Boeing, the world’s leading aerospace company based in the US, are accelerating cooperation with Vietnamese suppliers and universities to provide a foundation for long-term industrial growth.

Expecting coffee exports to hit a record $4 billion

Vietnam Coffee Cocoa Association (Vicofa) forecasted that if the export price of coffee remained at a high level, as in the first half of the year

Major investors worry as stock market weakens

The stock market boards have been covered with red amid investors’ rising caution. There are few buyers, while selling pressure still exists. Foreign investors’ behavior has affected the market.

Vietnam sees great potential in ASEAN halal market

Despite opportunities available in the ASEAN halal food market, Vietnamese exporters have to date exported only a small amount of halal products to some countries in the region.

Vietnam is becoming a beacon in the region: The Brussels Times

The Brussels Times of Belgium has run an article highlighting that Vietnam is becoming a beacon in the region with the capacity to control inflation and maintain economic growth at a high level despite turbulent international affairs.
back_to_top