Agricultural product prices today November 1, 2024: Coffee prices increase, pepper prices decrease sharply

DNVN - On November 1, 2024, coffee prices increased slightly by 600 VND/kg, fluctuating between 108,800-109,200 VND/kg, while pepper prices decreased by 2,000-2,500 VND/kg compared to the previous day, reaching a peak of 142,500 VND.

Coffee prices continue to rise

Yesterday's trading session recorded the price of Robusta coffee on the London floor on November 1, 2024 at 4:30 a.m. decreasing to 4,145 - 4,369 USD/ton. Specifically, the delivery price for January 2025 was 4,369 USD/ton (down 84 USD); the delivery price for March 2025 was 4,281 USD/ton (down 82 USD); the delivery price for May 2025 was 4,216 USD/ton (down 80 USD), and the delivery price for July 2025 was 4,145 USD/ton (down 73 USD).

On the New York floor on the morning of November 1, 2024, Arabica coffee prices decreased by an amplitude of 242.15 - 245.90 cents/lb. Specifically, December 2024 delivery was at 245.90 cents/lb (down 1.48%); March 2025 delivery was at 245.50 cents/lb (down 1.43%); May 2025 delivery was at 244.45 cents/lb (down 1.35%) and July 2025 delivery was at 242.15 cents/lb (down 1.28%).

The price of Brazilian Arabica coffee on the morning of November 1, 2024, had mixed trends with different increases and decreases. Specifically, the delivery price for December 2024 was 300.25 USD/ton (up 0.52%); delivery for March 2025 was 300.50 USD/ton (up 0.62%); the May 2025 term decreased by 1.47% to 299.15 USD/ton; and July 2025 was 296.00 USD/ton (down 1.38%).

Domestic coffee prices updated at 5:00 a.m. on November 1, 2024 increased by VND 600/kg, ranging from VND 108,800-109,200/kg. The average purchase price in the Central Highlands provinces is VND 109,100/kg, with the highest recorded in Dak Nong and Dak Lak, reaching VND 109,200/kg.

Specifically, the coffee purchase price in Gia Lai (Chu Prong) reached 109,100 VND, an increase of 600 VND/kg compared to yesterday; in Pleiku and La Grai, the same price was 109,000 VND/kg. In Kon Tum, the purchase price was 109,100 VND/kg, an increase of 600 VND/kg; and in Dak Nong, it was 109,200 VND/kg, an increase of 600 VND compared to the previous day.

The price of green coffee beans in Lam Dong provinces such as Bao Loc, Di Linh, Lam Ha increased to 108,800 VND/kg, 600 VND/kg higher than the previous day.

In Dak Lak, Cu M'gar district has a purchase price of 109,200 VND/kg, an increase of 600 VND/kg; Ea H'leo district and Buon Ho town have a purchase price of 109,100 VND/kg.

Since the beginning of 2024, the price of green coffee has increased sharply, surpassing the threshold of 100,000 VND/kg, recording a record high, bringing a significant improvement in income for coffee growers in Dak Nong.

According to the report of the Department of Agriculture and Rural Development of Dak Nong province, the coffee area in 2024 is 143,000 hectares, with 131,000 hectares being harvested. The average yield is about 26.2 quintals/ha, the total expected output is 343,540 tons, down 1.51 quintals/ha compared to the previous year, equivalent to a decrease of about 16,000 tons, due to prolonged drought and lack of water in the first months of the year, causing crops to dry out, flowers and young fruits to fall a lot, reducing productivity.

Although output and productivity decreased compared to last year, thanks to high coffee prices and improved quality, coffee growers in Dak Nong have more income to invest in crop care, continuing to maintain coffee production instead of switching to other crops.

Pepper prices fell sharply

This morning, November 1, 2024, in the Southeast region, pepper prices decreased by 2,000 - 2,500 VND/kg compared to yesterday, trading around 141,000 - 142,500 VND/kg; the highest price was in Dak Nong.

In Dak Lak, the pepper purchase price reached 142,000 VND/kg, down 2,500 VND/kg; pepper in Chu Se (Gia Lai) was purchased at 141,000 VND/kg, down 2,000 VND compared to yesterday; in Dak Nong, today's pepper price is 142,500 VND/kg, down 2,000 VND compared to the previous day.

In the Southeast region, pepper prices fluctuated compared to the previous day. In Binh Phuoc, pepper prices were VND141,000/kg, down VND2,000; and in Ba Ria – Vung Tau, pepper prices are currently at VND142,000/kg, down VND2,000 compared to the previous day.

In general, domestic pepper prices in key regions today decreased by 2,000 - 2,500 VND/kg, with the highest price being 142,500 VND and the lowest being 141,000 VND/kg.

Global pepper prices updated by the International Pepper Community (IPC), the most recent trading session recorded Indonesian Lampung black pepper at 6,691 USD/ton, up 0.16%; Muntok white pepper was 9,160 USD/ton, up 0.17% compared to the previous day.

The price of Brazilian ASTA 570 black pepper is 6,400 USD/ton, Malaysian ASTA black pepper is 8,500 USD/ton; Malaysian white pepper is 11,000 USD/ton.

Of which, Vietnamese black pepper remains stable at 6,500 USD/ton (500 g/l) and 6,800 USD/ton (550 g/l); white pepper is priced at 9,500 USD/ton.

The Comprehensive Economic Partnership Agreement between Vietnam and the UAE (CEPA), signed on October 28, has created great opportunities for the Vietnamese pepper industry to expand exports to the UAE, marking an important step forward to help businesses exploit this potential market.

With a hot and mostly desert climate, the UAE is not favorable for agricultural production, so it has to import a lot of food and spices from other countries to meet domestic demand, especially for residents and tourists. As a Muslim country, the UAE is very fond of spices in its cuisine, of which pepper is the main spice.

In the current situation, consumption demand in the UAE and globally is gradually recovering after the pandemic. Along with the support policies of the Vietnamese Government, the UAE is still a potential market for Vietnamese businesses to exploit.

Lan Le (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-hom-nay-1-11-2024-ca-phe-tang-gia-ho-tieu-giam-sau/20241101075722633