Agricultural product prices on December 10, 2024: Coffee and pepper both decreased slightly

DNVN - Updated agricultural product prices on December 10, 2024, coffee prices decreased by VND 2,000/kg compared to the previous day. In the Central Highlands, coffee purchasing prices are currently at an average of VND 122,000/kg, while pepper prices decreased slightly by VND 300/kg compared to yesterday.

Coffee prices turn down

At the end of this morning's trading session, Robusta coffee prices on the London floor increased slightly compared to the previous session, fluctuating between 5,040 - 5,246 USD/ton, up 40 - 93 USD/ton depending on the term. Specifically, the delivery term for January 2025 reached 5,246 USD/ton (up 93 USD), the term for March 2025 was 5,200 USD/ton (up 84 USD), the term for May 2025 was 5,140 USD/ton (up 75 USD) and the term for July 2025 reached 5,040 USD/ton (up 40 USD).

In New York, Arabica coffee prices fluctuated this morning depending on the term, fluctuating between 314.35 - 330.10 cents/lb with an increase or decrease range of 0.05 - 0.20 cents/lb. Specifically, the March 2025 term reached 330.10 cents/lb (down 0.15 cents/lb), the May 2025 term increased 0.05 cents/lb to 327.65 cents/lb, the July 2025 term reached 322.25 cents/lb (up 0.30 cents/lb) and the September 2025 term increased 0.20 cents/lb to 314.35 cents/lb.

This morning, the price of Brazilian Arabica coffee also recorded fluctuations depending on the trading term, with the range from 0.05 - 1.10 USD/ton. Specifically, the December 2024 term increased by 0.25 USD to 412.00 USD/ton; the March 2025 term increased the most, reaching 412.50 USD/ton (up 1.10 USD); the May 2025 term was at 409.20 USD/ton (up 0.05 USD) and the July 2025 term reached 401.90 USD/ton (up 0.40 USD).

Domestically, coffee prices on the morning of December 10th decreased by VND2,000/kg, the average price in the Central Highlands provinces is currently VND122,000/kg. Areas such as Gia Lai, Dak Nong, Dak Lak all recorded this price, while Lam Dong was lower, at VND121,000/kg.

In Cu M'gar district (Dak Lak), coffee price this morning reached 122,000 VND/kg, while Ea H'leo and Buon Ho town recorded a price of 121,900 VND/kg.

Coffee is one of the most traded commodities globally, with demand growing rapidly, especially in the Chinese market. However, only a few tropical countries such as Brazil, Vietnam, Colombia, Indonesia and Ethiopia are meeting this demand, amid the severe impacts of climate change.

Two weeks ago, Nestle SA, the world's largest coffee maker, announced that coffee prices would continue to rise, causing consumers to feel the price pressure.

Global coffee prices have hit their highest level in nearly 50 years, Reuters reported on December 5, 2024, as adverse weather in Brazil and Vietnam forced roasters like Nestle to raise prices and consumers to seek cheaper coffee options during the cost of living crisis.

The price increase benefits farmers in this year's crop, but makes it difficult for traders who are faced with high hedging costs and shortages of supplies.

Pepper prices slightly decreased

Domestic pepper prices on December 10, 2024 decreased by 300 VND/kg, averaging at 146,200 VND/kg. In Gia Lai, pepper prices decreased by 500 VND/kg, while in Binh Phuoc , they decreased by 1,000 VND/kg.

Specifically, pepper price in Binh Phuoc is at 145,000 VND/kg, in Gia Lai and Ba Ria - Vung Tau is 146,000 VND/kg, Dak Lak is 147,000 VND/kg and the highest is in Dak Nong, with the price of 147,200 VND/kg.

According to the International Pepper Community (IPC), the world pepper market is relatively stable, except for Indonesia. The price of Indonesian Lampung black pepper reached 6,841 USD/ton (up 2.02%), while the price of Muntok white pepper decreased slightly by 0.08% to 9,147 USD/ton.

Brazilian black pepper prices remained stable at $6,275/ton; Malaysian ASTA black and white pepper were at $8,200/ton and $10,400/ton, respectively. In Vietnam, black pepper prices of 500g/l and 550g/l were at $6,200/ton and $6,500/ton, respectively, while white pepper remained unchanged at $9,300/ton.

The weather in Vietnam with prolonged rains after the drought at the beginning of the year is favorable for pepper growth, helping to increase the yield of the next crop. Harvest is expected to begin in February 2025.

According to experts, pepper prices have now entered a new upward cycle due to reduced supply. Demand for the year-end holidays and low export information in Vietnam are also supporting the market.

However, farmers are advised not to rush to sell pepper at this time, to avoid the risk of price fluctuations and to limit borrowing to stockpile pepper.

Currently, pepper prices are hovering around VND146,000/kg, bringing a positive signal to pepper growers after a long period of stagnation. The scarce supply over the past 6-8 years, combined with stable export demand from the US and EU, has contributed to a sharp increase in prices.

Lan Le (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-10-12-2024-ca-phe-va-ho-tieu-dong-loat-giam-nhe/20241210094901419