DNVN - On October 18, 2024, agricultural product prices continued to fluctuate slightly, with coffee down 500 VND/kg, fluctuating between 112,800 - 113,400 VND/kg. Pepper also recorded a slight decrease compared to yesterday, trading around 144,000 - 144,500 VND/kg.
Coffee prices continue to fall
At the end of the trading session on October 18, 2024, the price of Robusta coffee on the London floor decreased significantly. As of 5:00 a.m., trading fluctuated between 4,404 - 4,685 USD/ton. Specifically, the November 2024 delivery period was 4,685 USD/ton, down 174 USD; the January 2025 delivery period was 4,598 USD/ton, down 154 USD; the March 2025 delivery period was 4,492 USD/ton, down 136 USD, and the May 2025 delivery period was 4,404 USD/ton, down 116 USD.
On the New York Stock Exchange, Arabica coffee prices on the morning of October 18, 2024 were red with trading levels ranging from 2.55 - 2.85 cents/lb. Specifically, the December 2024 futures contract reached 255.15 cents/lb, down 1.10%; the March 2025 futures contract was at 253.85 cents/lb, down 1.09%; the May 2025 futures contract was 252.00 cents/lb, down 1.06%, and the July 2025 futures contract decreased 1.01%, down to 248.90 cents/lb.
Brazilian Arabica coffee prices recorded mixed developments that morning. The December 2024 contract decreased slightly by 0.02% to 304.60 USD/ton, while the March 2025 contract increased by 0.02% to 305.50 USD/ton. The May 2025 contract decreased by 1.14% to 309.20 USD/ton, and the July 2025 contract decreased by 1.09% to 304.95 USD/ton.
Domestically, coffee prices updated at 5:00 a.m. on October 18, 2024 showed a decrease of VND 500/kg in key localities, fluctuating between VND 112,800 - VND 113,400/kg. In the Central Highlands provinces, the average purchase price was VND 113,300/kg, with the highest recorded in Dak Nong at VND 113,400/kg.
In Gia Lai, the coffee price in Chu Prong was 113,300 VND/kg, down 500 VND; Pleiku and La Grai both reached 113,200 VND/kg, down 500 VND respectively. In Kon Tum, the purchase price was 113,300 VND/kg, down 500 VND compared to yesterday; Dak Nong recorded 113,400 VND/kg, also down 500 VND.
In Lam Dong, the price of green coffee beans in Bao Loc, Di Linh, and Lam Ha districts is currently at 112,800 VND/kg, down 500 VND.
In Dak Lak, the coffee purchase price in Cu M'gar district is 113,200 VND/kg, while in Ea H'leo and Buon Ho town the price is 113,100 VND/kg.
The 2023-2024 coffee crop year, which runs from October 1, 2023 to September 30, 2024, saw Vietnam export 1.46 million tons of coffee, down 12.1% from the previous crop year. However, the export value reached $5.43 billion, up 33.1%, reaching an all-time high.
Despite high coffee prices, the Vietnamese coffee industry still faces many challenges, including climate change and competition from other crops. The EU’s new anti-deforestation regulations are also expected to affect the coffee industry in the coming time. The Vietnam Coffee and Cocoa Association (VICOFA) will soon hold a conference to review the production situation and forecast the market for the next crop year.
One factor that negatively impacted the coffee market was a report from the International Coffee Organization (ICO), which showed that global coffee exports in August 2024 increased by 6.5% compared to the same period last year, reaching 10.92 million bags. From October 2023 to August 2024, global exports increased by 9.9%, reaching 125.67 million bags.
Pepper prices slightly decreased
On October 18, 2024, pepper prices in key regions continued to decrease slightly compared to yesterday, trading around 144,000 - 144,500 VND/kg, an average decrease of 500 VND/kg.
Specifically, pepper price in Dak Lak was purchased at 144,500 VND/kg, down 500 VND; in Chu Se, Gia Lai, the price remained at 144,000 VND/kg. Dak Nong recorded a price of 144,500 VND/kg, down 500 VND compared to yesterday.
In the Southeast, pepper prices remained unchanged compared to yesterday. In Ba Ria – Vung Tau, pepper prices remained at 144,000 VND/kg, similar to Binh Phuoc.
Updated from the International Pepper Community (IPC), at the end of the most recent trading session, the price of Indonesian Lampung black pepper reached 6,773 USD/ton; Muntok white pepper was 9,272 USD/ton. The price of Brazilian ASTA 570 black pepper was 6,400 USD/ton, while the price of Malaysian ASTA black pepper was stable at 8,700 USD/ton and white pepper reached 11,200 USD/ton.
Vietnam black pepper prices are trading at 6,500 USD/ton for 500 g/l and 6,800 USD/ton for 550 g/l. White pepper prices are at 9,500 USD/ton.
Since the beginning of the week, domestic pepper prices have fluctuated slightly with less active trading due to low supply and strong cash flow shifting to coffee.
The unstable global economic situation is also negatively affecting the demand for pepper. Inflation and economic recession in many countries are causing consumers to cut back on spending on non-essential products, including pepper.
Climate change, with El Nino and then La Nina, has severely affected pepper production, while high durian and coffee prices make pepper replanting unattractive to farmers.
Ganoderma (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-18-10-2024-ca-phe-ho-tieu-cung-giam-nhe/20241018080100942
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