The Vietnam Pepper Association (VPA) reported it has proposed that the Ministry of Agriculture and Rural Development establish a transaction floor for pepper.

Photo for illustration. (Source: VNA)

Mr. Do Ha Nam, VPA Chairman, said that the country’s pepper now made up over 50% of the world’s trading volume, thus the establishment of the transaction floor will help give Vietnam more power to control the global pepper trade. The International Pepper Community (IPC) anticipates that in the next eight years Vietnam’s pepper exports will increase by 34% from the current level, continuing to maintain the leading position on the global market.

In addition, VPA also suggested that the ministry appoint candidates to run for the post of IPC Managing Director, as requested by the organization, and proposed moving IPC headquarters from Indonesia to Vietnam.

Mr Nam stressed that becoming IPC managing director will raise the position of Vietnam’s pepper sector and the role of the sector in trading transactions will be more favorable./.

( Compiled by VNF )