Domestic pepper prices today (October 1, 2024) witnessed a slight decrease, fluctuating between VND 147,500/kg and VND 148,000/kg. This reflects a complicated situation in the current pepper market, where downward pressure on prices still exists alongside the potential for future price increases.
The slight drop in pepper prices today is said to be due to two main factors:
Firstly, capital is being attracted to coffee. Robusta coffee prices are rising very high, attracting the attention of investors and traders. Many traders are liquidating pepper to prepare capital to import coffee, which puts downward pressure on the domestic pepper market.
Second, preparations for Vietnam’s coffee harvest are expected in the fourth quarter of 2024. As the coffee harvest season approaches, demand for pepper will decrease as traders focus on purchasing coffee. This will also put further downward pressure on pepper prices.
However, several other factors offer an optimistic outlook for the pepper market in the near future.
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| Pepper price forecast tomorrow (October 2, 2024): Price reduction pressure still exists. |
Vietnam's pepper export price in September 2024 reached its highest level in the past 8 years. According to the General Department of Customs, in September 2024, Vietnam exported 20,000 tons of pepper worth 125 million USD, up 10.4% in volume and 84.9% in value over the same period last year. This shows that the demand for pepper in the international market is still very large, and high export prices will be the driving force supporting domestic pepper prices.
In addition, experts remain optimistic about the potential for domestic pepper price increases. They believe that domestic pepper prices may rise above VND160,000/kg before the new harvest season in Vietnam. This forecast is based on the fact that domestic consumption demand remains stable and the ability to export pepper to international markets continues to grow.
In the world market, pepper prices are also quite complicated. The price of Indonesian Lampung black pepper decreased slightly by 0.04%, while the price of Muntok white pepper decreased by 1.64%. However, the price of Malaysian ASTA black pepper suddenly increased by 1.12%, and the price of ASTA white pepper also increased by 1.75%. This shows that the world pepper market is affected by many factors, and pepper prices can fluctuate unexpectedly.
The downward pressure on prices is still present due to capital being attracted to coffee and preparations for the coffee harvest season, so it is likely that pepper prices will decrease slightly tomorrow compared to today (October 1). However, the potential for price increases is still there because export pepper prices are high and experts predict that domestic pepper prices will exceed VND160,000/kg before entering the new harvest season.
Investors need to closely monitor market developments and make investment decisions in accordance with the actual situation. Note that the pepper market is always volatile and can change unexpectedly.
*The above pepper price forecast is for reference only, the actual price will be officially announced tomorrow (October 2, 2024).
Source: https://congthuong.vn/du-bao-gia-tieu-ngay-mai-2102024-ap-luc-giam-gia-van-con-hien-huu-349626.html
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