Agricultural product prices on December 15, 2024: Coffee prices increase sharply, continuing to reach new peaks

DNVN - On December 15, 2024, the average coffee price reached 125,100 VND/kg, a significant increase of 1,000 VND/kg compared to the previous day. Meanwhile, pepper prices increased from 200 to 1,000 VND/kg depending on the region, bringing the average price to 145,800 VND/kg.

Coffee prices continue to rise

On the London exchange, the price of Robusta coffee on December 15, 2024 remained at a range of 5,046 - 5,209 USD/ton compared to yesterday. Specifically, the January 2025 term was 5,209 USD/ton; March 2025 was 5,184 USD/ton; May 2025 was 5,126 USD/ton and July 2025 stopped at 5,046 USD/ton.

On the New York floor, the price of Arabica coffee on the same day also fluctuated from 304.85 - 319.50 cents/lb, unchanged from the previous session. The March 2025 contract reached 319.50 cents/lb; May 2025 was at 317.05 cents/lb; July 2025 was 312.45 cents/lb and September 2025 was at 304.85 cents/lb.

Brazilian Arabica coffee prices remained stable in most terms this morning, except for the December 2024 term, which fell slightly to $396.90/ton (down $2.30/ton). Other terms such as March 2025 were at $408.70/ton; May 2025 was at $395.15/ton and July 2025 was at $388.95/ton.

Contrary to the world coffee price trend, domestic coffee prices on December 15, 2024 averaged VND 125,100/kg, an increase of VND 1,000/kg compared to the previous day.

In the key regions of the Central Highlands, the highest purchase price was recorded at VND125,200/kg. Coffee prices in Dak Lak increased to VND125,000/kg, VND1,000 higher than yesterday. In Lam Dong, the price reached VND123,500/kg, an increase of VND800. In Gia Lai, the transaction price today reached VND125,000/kg, an increase of VND1,000. In Dak Nong, the highest price reached VND125,200/kg, also an increase of VND1,000.

According to experts, domestic coffee prices have reached the predicted mark of 125,000 VND/kg, with the highest level in Dak Nong reaching 125,200 VND/kg.

A director of a coffee purchasing company in Gia Lai said, “from the beginning of the 2024-2025 crop, he predicted that the price of coffee when entering the main harvest season would decrease to about 3,000 - 4,000 USD/ton, but in reality, the price only decreased for a few sessions and set a record even when entering the crop season.” This forced him to buy at high prices to pay for signed orders, accepting to sell at low prices and taking a loss.

Sharing the same view, a member of the Vietnam Coffee and Cocoa Association (VICOFA) said, “Some coffee purchasing businesses suffered heavy losses because they failed to predict the price trend correctly. Sales contracts were signed but they could not buy goods from farmers, so they were forced to raise prices to buy in advance, avoiding having to pay compensation for the contract and losing reputation with partners.”

VICOFA also recommends that businesses should consider carefully and avoid trading in long-term contracts. In case of strong price fluctuations, the parties need to cooperate to share the losses to avoid causing heavy losses to one side.

Pepper prices rise again

On the morning of December 15, 2024, domestic pepper prices continued to increase sharply, increasing from 200 to 1,000 VND/kg compared to the previous day. The current average price in localities is 145,800 VND/kg.

In Gia Lai, pepper prices reached 145,000 VND/kg, up 1,000 VND. In Binh Phuoc and Ba Ria - Vung Tau, pepper prices also increased by 1,000 VND, reaching 146,000 VND/kg. Meanwhile, in Dak Lak, the price remained stable at 146,000 VND/kg, while in Dak Nong, it increased slightly by 200 VND to 146,200 VND/kg.

According to the International Pepper Association (IPC), world pepper prices updated at 4:30 a.m. on December 15, 2024 did not fluctuate much. Specifically, the price of Lampung black pepper (Indonesia) reached 6,787 USD/ton, Muntok white pepper was 9,068 USD/ton. In Brazil, ASTA 570 black pepper recorded 6,300 USD/ton, while Malaysia's ASTA black and white pepper were 8,200 USD/ton and 10,400 USD/ton, respectively.

For export, the price of Vietnamese black pepper 500 g/l remained at 6,300 USD/ton; 550 g/l was 6,600 USD/ton. The price of white pepper was stable at 9,400 USD/ton.

According to experts, pepper prices are entering an upward cycle due to reduced supply. Increased demand during the year-end holidays and news of reduced exports in Vietnam also support the market's upward momentum. In addition, high transportation costs and a depreciating US dollar also contribute to the increase in pepper prices.

Experts recommend that farmers should focus on improving quality and productivity instead of expanding acreage, ensuring the sustainable development of the industry. Exporters should take advantage of the current high price opportunity to expand their markets, especially in the US and EU, where demand for pepper continues to grow strongly.

Lan Le (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-15-12-2024-ca-phe-tang-manh-tiep-tuc-lap-dinh/20241215092422894