Farmers unconcerned over plunge of pepper prices

Pepper prices have fallen over 30% compared to last year due to growing international supply that is leading to higher competition in the market, but Cambodian farmers are unconcerned, remaining confidence in the quality of their pepper. Prices have fluctuated since the harvesting season started earlier this month with pepper selling at KHR20,000 per kilogram yesterday, up from KHR17,000 earlier this week, according to Hong San, president of the Dar-Memot Pepper Agricultural Development Cooperative. The volatile prices are far below those seen last year, when pepper was selling at prices ranging from KHR30,000 to as high as KHR40,000. San said pepper cultivation was increasing in India, Sri Lanka and several other countries, but maintained that reduced prices would not push the Cambodian industry to a breaking point as Cambodian pepper has higher quality. Data from the Ministry of Agriculture shows the Kingdom produced a total of 11,919 tonnes of black pepper in 2016, a 20% YoY increase, with Tboung Khmum province accounting for 8,566 tonnes of the overall harvest. (Source: Phnom Penh Post)