Vietnamese Farmers Urged to Sell Pepper
The Vietnam Pepper Association (VPA) has advised local farmers to sell pepper and not to continue holding any more because that will affect the local pepper industry.
At recent annual meeting of Vietnam pepper industry, the association’s Chairman Do Ha Nam said even though pepper prices are increasing to VND58,000-VND59,000 a kilo, many farmers are hesitating to sell with hope for higher prices.
But he warned that farmers’ effort to hold pepper to await higher prices will upset local exporting companies, adding that world’s consumers are likely not to accept the prices.
“Pepper prices may fall suddenly like the case of coffee prices,” Nam warned.
Vietnamese companies have so far this year exported more than 11,000 tons of pepper for average prices of US$3,700 a ton, up 3,000 tons in volume and US$400 a ton in prices on year.
The VPA expected Vietnam’s pepper production to reach 100,000 tons this year, with around 90,000 tons or 95,000 tons being earmarked for export.
Vietnam’s pepper export revenues reached record in 2007 at US$271 million, with total volume of 83,000 tons, up US$81 million from previous year despite a fall of 29 per cent in volume. (VNA)
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