Will it continue to fall?

At the end of the weekend trading session, domestic pepper prices recorded a sideways trend, trading around 143,000 - 145,500 VND/kg. The highest price was recorded in Ba Ria - Vung Tau at 145,500 VND/kg, while pepper prices in Dak Lak , Gia Lai and Dak Nong were stable at 144,000 VND/kg and 143,000 VND/kg.

However, the domestic pepper market is showing less optimistic signs, with increasing downward pressure on prices due to slowing exports and capital shifting to coffee. This is reflected in the report of the Vietnam Pepper and Spices Association on pepper exports in September and the first 9 months of 2024.

Pepper price forecast for tomorrow October 14, 2024: Domestic pepper market may stagnate.

Accordingly, Vietnam exported 17,138 tons of pepper of all kinds in September, down from the same period last year. Export turnover reached 109.8 million USD, lower than information from the General Department of Customs at the beginning of the month, causing pepper exports in the past 9 months to not reach the billion USD mark.

The decline in export volume and value shows that the pepper market is facing many difficulties. Fierce competition from other pepper producing countries, a strong appreciation of the US dollar and declining consumption demand in the international market are the main reasons causing many obstacles for pepper exports.

In addition, the shift of capital flow from pepper to coffee is also putting pressure on domestic pepper prices. Currently, coffee prices are at a high level, attracting the attention of many investors and farmers, leading to a decrease in pepper growing areas and pepper harvest output.

In the world market, pepper prices are also under downward pressure. Although the price of Indonesian Lampung black pepper and Muntok white pepper both increased slightly in the latest trading session, the price of Malaysian ASTA black pepper decreased by 1.15%. This shows the divergence in market sentiment.

In the context of domestic and international markets having many uncertainties, it is forecasted that pepper prices tomorrow, October 14, 2024, may continue to move sideways, or even decrease slightly.

However, it should be noted that this forecast is for reference only and may change according to actual market developments. Unexpected factors such as weather fluctuations, tax policies, or price fluctuations in the international market may affect pepper prices in the following days.

Therefore, pepper growers and pepper businesses need to closely monitor market developments, update information from reputable sources to develop appropriate business strategies and limit risks.

*Information for reference only

Source: https://congthuong.vn/du-bao-gia-tieu-ngay-mai-14102024-se-tiep-tuc-giam-sau-352183.html