Pepper price hits new record high

(ĐN)- The pepper prices in Dong Nai have hit a new record. The latest price is VND155,000-VND156,000 a kilogram for black pepper, up about VND 10,000 compared to late September 2011. The pepper price is at its highest level in recent years.

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 early 2012 when pepper harvest season starts in Vietnam.

Dong Nai now has more than 7,000 hectares under pepper cultivation, of which, over 6,000 hectares are in harvest time 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