The downward trend has not ended yet, commenting on the market trend at the end of the year

Pepper prices today, October 30, 2024, in the domestic market continued to decline in some key localities, trading from 142,000 - 143,000 VND/kg.

Pepper price today October 30, 2024: Still not over the downward trend, comments on the year-end market trend. (Source: Borneo Talk)

Pepper prices today, October 30, 2024, in the domestic market continued to decline in some key localities, trading from 142,000 - 143,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 142,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (142,000 VND/kg); Dak Lak (143,000 VND/kg); Dak Nong (140,500 VND/kg); Ba Ria - Vung Tau (143,000 VND/kg) and Binh Phuoc (142,000 VND/kg).

Thus, continuing the downward trend, domestic pepper prices today decreased slightly in Dak Lak and Dak Nong, by 500 VND/kg, while remaining unchanged in other key growing areas. This is the 4th consecutive day of decline in the market. The highest pepper price is at 143,000 VND/kg.

According to the Center for Industry and Trade Information - Ministry of Industry and Trade, the unstable global economic situation is negatively affecting the demand for pepper consumption in many countries. Rising inflation and the risk of economic recession in many countries are causing consumers to tighten their spending, reducing the demand for non-essential items such as pepper.

In the short term, the pepper market is expected to continue to face many fluctuations. Pepper prices may remain stable or decrease slightly due to limited supply and no signs of strong recovery in demand.

However, in the long term, when the world economic situation is more stable and climate change adaptation solutions are effectively implemented, the pepper market will likely recover and develop again.

According to the Vietnam Pepper and Spice Association (VPSA), some pepper gardens in Ba Ria - Vung Tau are currently in the fruiting stage, preparing to harvest around mid-January 2025.

Meanwhile, in Brazil, black pepper prices continued to fall since the previous week due to the impact of the Brazilian Real falling 1% against the USD (5.71 BRL/USD).

Meanwhile, prices of Indonesian and Cambodian black pepper as well as Chinese white pepper remained stable and unchanged.

After recording a decline in the past 3 weeks, the pepper market in the US also remained stable with limited activity.

However, the IPC price index and composite price in the first 9 months of 2024 showed a positive trend when the black pepper price index increased sharply by 8.3%, reaching 96.58 points while the white pepper price index increased higher, up 9.1% to 90.48 points.

The price of black pepper increased by 548 USD/ton, reaching 7,184 USD/ton, the price of white pepper increased by 782 USD/ton, reaching 9,363 USD/ton.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,681 USD/ton, down 0.64%; the price of Brazilian black pepper ASTA 570 at 6,400 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.

Muntok white pepper price is 9,146 USD/ton, down 0.65%; Malaysian ASTA white pepper price is at 11,000 USD/ton.

Source: https://baoquocte.vn/gia-tieu-hom-nay-30102024-chua-dut-da-lao-doc-nhan-dinh-xu-huong-thi-truong-cuoi-nam-291782.html