Domestic pepper prices today (October 1, 2024) have seen a slight decrease, fluctuating between VND 147,500/kg and VND 148,000/kg. This reflects a complex situation in the current pepper market, where downward price pressure persists alongside the potential for future price increases.
The slight drop in pepper prices today is attributed to two main factors:
Firstly, capital is being drawn to coffee. Robusta coffee prices are rising sharply, attracting the attention of investors and traders. Many traders are liquidating their pepper stocks to raise capital for coffee imports, which is putting downward pressure on domestic pepper prices.
Secondly, preparations for the Vietnamese coffee harvest are expected in the fourth quarter of 2024. As the coffee harvest 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 consumer market in the near future.
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| Pepper price forecast for tomorrow (October 2, 2024): Downward pressure remains. |
Vietnam's pepper export prices in September 2024 reached their highest level in eight years. According to the General Department of Customs, in September 2024, Vietnam exported 20,000 tons of pepper worth US$125 million, an increase of 10.4% in volume and 84.9% in value compared to the same period last year. This shows that demand for pepper in the international market remains very high, and high export prices will be a driving force supporting domestic pepper prices.
Furthermore, experts remain optimistic about the potential for domestic pepper prices to rise. They believe that domestic pepper prices could surpass VND 160,000/kg before the start of the new harvest season in Vietnam. This forecast is based on the fact that domestic consumer demand remains stable and the potential for continued growth in pepper exports to international markets.
On the world market, pepper prices are also quite volatile. Indonesian Lampung black pepper prices fell slightly by 0.04%, while Muntok white pepper prices dropped by as much as 1.64%. However, Malaysian ASTA black pepper prices unexpectedly increased by 1.12%, and ASTA white pepper prices also rose by 1.75%. This indicates that the global pepper market is being influenced by many factors, and pepper prices can fluctuate unexpectedly.
Downward price pressure persists due to capital being diverted to coffee and preparations for the coffee harvest, so pepper prices are likely to fall slightly tomorrow compared to today (October 1st). However, upward potential remains as export prices are high and experts predict domestic pepper prices will surpass VND 160,000/kg before the start of the new harvest season.
Investors need to closely monitor market developments and make investment decisions that are appropriate to the actual situation. Note that the consumer market is always volatile and can change unexpectedly.
*The above pepper price forecast is for reference only; the actual official price will be available 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
