VPA warned that the Vietnam pepper import-export contracts cancelled
Vietnam Pepper Association (VPA) has warned that some foreign importers may cancel future contracts for some Vietnam pepper export enterprises.
Pepper exports in 2017 will face many difficulties. Photo: ST
Typically, recently, a VPA member company signed a contract to sell 75 tons of black pepper of 500gr/l FAQ type for Ankit General Trading LLC Company, at the price of $US 5,850/ton in accordance with CNF delivery terms at Jebel Ali (United Arab Emirates). The Delivery Method is 25 tons every month in February, March and April, 2017.
At the end of January, 2017, Ankit General Trading LLC Company sent a notice to cancel the contract on the grounds that this Vietnam pepper company cancelled a pepper contract with a partner in 2015. Meanwhile, the Vietnam pepper company confirmed that they have never cancelled any contracts with the Ankit General Trading company.
According to VPA, 2017 is expected to be a difficult year for pepper exports due to the price fluctuations and unstable quality, which may increase risks for pepper trading of Vietnam enterprises. Hence, VPA warned Vietnam pepper enterprises that they need to be more careful before signing import and export contracts with customers.
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