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Pepper prices fell sharply by 6 years

Date posted : 14:58:53 28-10-2016
Report of the Ministry of Agriculture and Rural Development said the decline in prices is very strong pepper in 6 months in early 2017 .
 
Specifically, the price of pepper in Ba Ria - Vung Tau month 6/2017 fell 2,000 VND / kg to 79,000 VND / kg compared to last month 5/2017 . Dong Nai consumer price decrease of 5,000 VND / kg down to 75,000 VND / kg . Similarly, the consumer price Dak Lak - Dak Nong and Gia Lai dropped by VND3,000 and VND5,000 per kg , down to 78,000 VND / kg and 76,000 VND / kg .
 
Compared with year-end 2016 , domestic prices fell to 57000-61000 / kg . If a year compared with 2016 , current prices fell by 50% . This is considered a record rate of pepper industry within 5-6 years back here.
 
Along with that, the average price of export target of 5 months in early 2017 to reach 5876 USD / t , also down 26.8% compared to the same period in 2016 .
 
According to the Ministry of Agriculture, the price of pepper fell sharply due to exports to the markets of Europe, America, Japan stalled, while the pepper area in the country beyond the planning leading to oversupply caused pepper prices "plummeted".
 
Data from the ministry shows that pepper production after 6 months was estimated at 207.7 thousand tons , an increase of 18.2% . Also planted area increased by 22.6% . Cause pepper production increased due to price increases in export demand and stable in recent years, prompting growers to pepper profitable investment actively expand production.
 
Export turnover target 6 months of this year is estimated at 126 thousand tons and 714 million USD , up 18.3% in volume but fell by 16.8% in value over the same period in 2016 . The export market of Vietnam's biggest goal in five months in early 2017 as the United States, United Arab Emirates, India, Pakistan and Germany with 38.9% market share.
 
Nhat Duy (Investment Bridge)
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