Vietnam Pepper Market, June 07, 2024

 

Pepper export businesses are "gutted"

Posted onJune 7, 2024by VPA

07
Jun

Amid the shocking increase in pepper prices, some businesses reported that export goods were "withdrawn" causing international customers to not receive the full amount of delivered goods.

On June 7, the domestic pepper price jumped to 164,000 VND/kg, an increase of 16,000 VND/kg compared to the previous day and an increase of more than 60% compared to mid-May. In early 2024, pepper prices were still low. at 70,000 VND/kg.

The hot increase in pepper prices helps gardeners and agents who are storing pepper profit, but commercial units that forget the practice of "buying far - selling far" will suffer losses because they have to buy goods at high prices to deliver to price contracts. short.

Processing enterprises are also tired of increasing raw material prices while final product prices can only increase slightly.

Meanwhile, the Vietnam Pepper and Spice Association reported that some businesses reported losing part of their export volume.

Pepper prices are increasing dramatically

Specifically, the importer discovered that the goods were in short supply compared to the contract, while the volume of the container, including the goods inside weighed at the port according to the weighing slip at the port, showed that the goods were of sufficient volume.

According to an internal investigation, the export enterprise suspected the possibility of goods being lost while the container was being unloaded and awaiting export. This shortage of goods reduces the trust of international partners and customers in Vietnam's logistics and shipping system as well as the reputation of export businesses. In addition, businesses have to spend more money to increase security, insure goods, and handle lost goods.

The Vietnam Pepper and Spice Association has sent a warning to its members and requested businesses experiencing similar situations to provide information for the Association to compile and report to relevant ministries and agencies for consideration. handle.

According to Labor Newspaper