Pepper price hits highest level ever

A purchasing agent in Bao Binh commune, Cam My district, Dong Nai province

(ĐN)- At present, the black pepper prices in Dong Nai go up to VND144,000-145,000 a kilogram, up about VND 20,000 compared to late August 2011. The pepper price is at its highest level in recent years. The prices guaranteed great profit for pepper growers, but the number of households in Dong Nai province having pepper for sale is not much. Most of pepper growers in the province have sold out their products after harvesting.

The price is expected to increase further this year due to a global supply shortfall. The recent unfavorable weather  and plant deseases caused a decline in pepper output.

Industry experts have forecast pepper prices to stay high until March 2012 when pepper harvest season starts in Vietnam.

At present, the export price of black pepper is approximately US$ 7,400 per ton while white pepper has risen stronger to US$ 9,800 per ton.

Dong Nai now has more than 7,000 hectares under pepper cultivation, with an average yield of over 2 tons per ha. Dong Nai is now ranked third in the country in the area under pepper cultivation.

Reported by H.G