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Farmers store pepper with expectation for higher prices |
Traders in the southern provinces of Binh Phuoc, Binh Duong, and Dong Nai proposed to buy pepper at about VND70,500 a kg, an increase of VND1,000 per kg compared to a few days ago, however, a few farmers agreed to sell their agricultural product.
Ms. Nguyen Thi Bich, an owner of a pepper purchasing agent in Long Phuoc ward in Binh Phuoc Province, revealed that although pepper prices have increased continuously in recent days, just households in need of money sell pepper while others are still storing pepper to wait for the price to rise higher.
According to Mr. Bui Quoc Hai, Director of Hung Phuoc Sustainable Pepper Cooperative in Bu Dop District of Binh Phuoc Province, the current price is still 10 percent-15 percent lower than the same period last year, many members in the cooperative have been taking a wait-and-see attitude with expectation for higher prices.
According to pepper growers in Lam San Commune in the Southern Province of Dong Nai’s Cam My District, pepper prices tend to increase, so farmers continue to store and wait for better prices.
