Pepper Market September 16, 2024: Prices slightly decreased in some areas
Pepper price today, September 16, is around 153,500-155,000 VND/kg. This week's market will be affected by the FED's interest rate cut in the policy meeting taking place in the next few days.
Commenting on the market this week, experts said it will be affected by the FED cutting interest rates by 0.25 or 0.5 percentage points in the policy meeting taking place in the next few days.
The news of interest rate cuts has weakened the USD for a long time, helping commodity markets to flourish, including pepper. On a global scale, the International Pepper Community also noted that last week no country reported a decrease in pepper prices.
Along with that, increased purchasing power from the markets, and concerns about supply are still two constant reasons expected to continue to boost pepper prices this week. Experts predict that if the upward momentum continues as it has since the beginning of the month, the domestic market this week could reach 160,000 VND/kg.
By the end of August, Vietnam exported 183,756 tons of pepper of all kinds, of which black pepper reached 162,721 tons and white pepper reached 21,035 tons. Total pepper export turnover reached 881.2 million USD (of which black pepper reached 754.1 million USD and white pepper reached 127.1 million USD). The amount of pepper exported has exceeded last year's output. Meanwhile, there are still 4 months left until the harvest. This raises concerns about supply in the last months of the year from Vietnam.
According to KTĐT.vn
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