Pepper prices continued to increase strongly last week with an increase of 8%. Thus, within 2 weeks, the price of pepper has increased by 12.5% from 68,500vnd - 77.000vnd.
The main reason is because of the huge demand from the Chinese market, besides the demand from the Middle East after a long time of Ramadan. The Middle East has increased buying volume from Vietnam quite large in the past week with spot orders.
Besides, there are 2 large corporations of Vietnam with abundant financial resources have purchased and hoarded pepper. This has pushed pepper prices to continue to rise.
Besides, there are 2 large corporations of Vietnam with abundant financial resources have purchased and hoarded pepper. This has pushed pepper prices to continue to rise.
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