Will the decline continue?

At the end of the week's trading session, domestic pepper prices remained stable, trading around 143,000 – 145,500 VND/kg. The highest price was recorded in Ba Ria – Vung Tau at 145,500 VND/kg, while prices in Dak Lak , Gia Lai, and Dak Nong remained stable at 144,000 VND/kg and 143,000 VND/kg respectively.

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

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

Accordingly, Vietnam exported 17,138 tons of various types of pepper in September, a decrease compared to the same period last year. Export revenue reached 109.8 million USD, lower than the information from the General Department of Customs at the beginning of the month, meaning that pepper exports in the past nine months have not yet reached the billion-dollar mark.

The decline in both the volume and value of pepper exports indicates that the market is facing many difficulties. Intense competition from other pepper-producing countries, the strong appreciation of the US dollar, and decreased demand in the international market are the main reasons hindering pepper exports.

Furthermore, the shift of capital from pepper to coffee is also putting pressure on domestic pepper prices. Currently, coffee prices are high, attracting the attention of many investors and farmers, leading to a reduction in pepper cultivation area and harvest yield.

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

Amidst significant instability in both domestic and international markets, the forecast for pepper prices tomorrow, October 14, 2024, suggests a continued sideways trend, or even a slight decrease.

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

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

*This information is for reference only.

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