It has been 2 months since the VN pepper crops started harvesting and the farmers were bitterly suffered from very big market fluctuations. Obviously, this was coming from the surplus of supply against demand (approximately 20%). Many experts had alerted that expansion without control of pepper farms, control of quality and replacing other trees (coffee, orchards, etc) with pepper - had resulted to unbalances of crops.
By end of last week 24 Mar, the local price stayed firm at its closure level of the previous day which showed us a decline of 10% to be the lowest price within recent 5-6 years.
By market opening today 26 Mar, ex-farm gate prices increased vnd1,000-2,000/kg to the average vnd52,000-54,000/kg in most of the plantation areas which are actively traded at the local levels. Farmers are expecting these restorations would remain and bullish the market with the fact that first crop harvest in Brazil is now running out for export.
Your inquiries/counter-bids or market information exchanging, discussions are mostly welcomed anytime.