Sneaky Chinese buyers swaying Vietnam’s pepper prices

Last update 16:36 | 09/08/2017

The price of pepper in Vietnam has gone up and down recently, allegedly due to unexpected Chinese purchases.

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Pepper harvest at Loc Phat cooperative in Loc Hiep commune, Loc Ninh district, Binh Phuoc province

According to the Vietnam Pepper Association (VPA), the pepper market has witnessed fluctuations of between 10-20 percent in pepper prices since late July.

Tran Huu Thang from Xuan Tho commune, Xuan Loc district, the southern province of Dong Nai said the pepper price in the province hit 95,000 VND (4.18 USD) per kg on August 8, climbing from 75,000 VND (3.3 USD) per kg a month ago. Sometimes, the pepper price moved by 10,000 VND (44 cents) a day, Thang said.

According to pepper exporters, a group of Chinese businessmen offered to buy a large quantity of pepper at any price, and asked local businesses to deliver the goods as soon as possible, prompting the business to purchase from farmers at higher prices.

At the same time, the Chinese businessmen had promised to sell pepper to local dealers at low prices. However, they only sold a small amount at low prices, then raised the price claiming scarcity.

Hoang Phuoc Binh, Vice President of the Chu Se district’s VPA chapter in the Central Highlands province of Gia Lai said the Chinese tricks were not new, however, farmers and local businesses still fell for it.

Nguyen Mai Oanh, VPA Vice President said the association has called on its members to be cautious when dealing with Chinese pepper traders.

According to the Ministry of Agriculture and Rural Development, in the first seven months of this year, Vietnam exported 145,000 tonnes, worth 800 million USD, up 20.4 percent in volume, yet falling 18.2 percent in value year on year.

The average export price of pepper in the first half this year was 5,662.6 USD per tonne, a fall of nearly 30 percent year on year.

VNA 

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This entry was posted in Economics - Kinh tế, Nông nghiệp - Agriculture, Thị trường tiêu thụ nông phẩm and tagged , by Trần Đình Hoành. Bookmark the permalink.

About Trần Đình Hoành

I am an attorney in the Washington DC area, with a Doctor of Law in the US, attended the master program at the National School of Administration of Việt Nam, and graduated from Sài Gòn University Law School. I aso studied philosophy at the School of Letters in Sài Gòn. I have worked as an anti-trust attorney for Federal Trade Commission and a litigator for a fortune-100 telecom company in Washington DC. I have taught law courses for legal professionals in Việt Nam and still counsel VN government agencies on legal matters. I have founded and managed businesses for me and my family, both law and non-law. I have published many articles on national newspapers and radio stations in Việt Nam. In 1989 I was one of the founding members of US-VN Trade Council, working to re-establish US-VN relationship. Since the early 90's, I have established and managed VNFORUM and VNBIZ forum on VN-related matters; these forums are the subject of a PhD thesis by Dr. Caroline Valverde at UC-Berkeley and her book Transnationalizing Viet Nam. I translate poetry and my translation of "A Request at Đồng Lộc Cemetery" is now engraved on a stone memorial at Đồng Lộc National Shrine in VN. I study and teach the Bible and Buddhism. In 2009 I founded and still manage dotchuoinon.com on positive thinking and two other blogs on Buddhism. In 2015 a group of friends and I founded website CVD - Conversations on Vietnam Development (cvdvn.net). I study the art of leadership with many friends who are religious, business and government leaders from many countries. In October 2011 Phu Nu Publishing House in Hanoi published my book "Positive Thinking to Change Your Life", in Vietnamese (TƯ DUY TÍCH CỰC Thay Đổi Cuộc Sống). In December 2013 Phu Nu Publishing House published my book "10 Core Values for Success". I practice Jiu Jitsu and Tai Chi for health, and play guitar as a hobby, usually accompanying my wife Trần Lê Túy Phượng, aka singer Linh Phượng.

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