Agricultural product prices on September 22, 2024: Coffee continues to plummet, pepper prices fluctuate

Coffee prices fall sharply

At the end of the trading session, the price of Robusta coffee on the London floor on September 22, 2024 at 5:00 a.m. was 4,485 - 5,059 tons. Specifically, the delivery period for November 2024 was 5,059 USD/ton, down 186 USD/ton; the delivery period for January 2025 was 4,803 USD/ton, down 186 USD/ton; the delivery period for March 2025 was 4,614 USD/ton, down 184 USD/ton and the delivery period for May 2025 was 4,485 USD/ton, down 174 USD/ton.

Arabica coffee prices on the New York floor on the morning of September 22, 2024, red dominated, with a decrease of 10.80 - 11.05 cents/lb. Specifically, the December 2024 delivery period was 250.75 cents/lb, down 4.17%; the March 2025 delivery period was 248.65 cents/lb, down 4.25%); the May 2025 delivery period was 246.45 cents/lb (down 4.25%) and the July 2025 delivery period was 243.80, down 4.24%.

The price of Brazilian Arabica coffee on the morning of September 22, 2024 increased and decreased in opposite directions. Specifically, the delivery period for December 2024 was 302.30 USD/ton, down 2.36%; the delivery period for March 2025 was 304.80 USD/ton (up 0.33%); the delivery period for May 2025 was 303.50 USD/ton, up 0.56% and the delivery period for July 2025 was 301.75 USD/ton, down 4.58%.

Domestic coffee prices were updated at 5:00 a.m. on September 22, 2024, down sharply by 2,000 - 2,200 VND/kg, ranging from 119,500 - 120,000 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 119,800 VND/kg, the highest purchase price in Dak Nong, Dak Lak , Kon Tum, Gia Lai provinces is 120,000 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 120,000 VND, down 2,000 VND/kg compared to yesterday, in Pleiku and La Grai the price is 119,900 VND/kg. In Kon Tum province, the price is 120,000 VND/kg, down 2,100 VND/kg compared to yesterday; In Dak Nong province, coffee is purchased at 120,000 VND/kg, down 2,100 VND/kg compared to yesterday.

The price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at 119,500 VND/kg, down 2,200 VND/kg compared to yesterday.

Coffee prices today (September 22) in Dak Lak province; in Cu M'gar district, coffee is purchased at about 120,000 VND/kg, down 2,100 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at 119,900 VND/kg.

In New York and London, after a period of price volatility, both buyers and sellers are cautious, waiting for new information on the weather in Brazil to make decisions.

Buyers are worried about the high prices of coffee and hope that rains will help to reduce the price increase. In contrast, coffee producers in Brazil are uncertain about the upcoming crop and think that coffee prices will probably increase further.

One prominent problem is that the price of coffee on the real market and the price on the exchange do not match, making the price difference even more complicated, which has become a common phenomenon recently. One manifestation of this difference is that the price of coffee in Brazil does not increase in proportion to the increase in the world market price.

Pepper prices increase and decrease in opposite directions

Pepper price today, September 22, 2024, in key regions increased and decreased by 1,000 VND/kg compared to yesterday and traded around 149,000 - 151,000 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces was 151,000 VND/kg.

Accordingly, Dak Lak pepper price is purchased at 151,000 VND/kg, down 1,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) is purchased at 150,000 VND/kg, up 1,000 VND/kg compared to yesterday. Dak Nong pepper price today is at 151,000 VND/kg, up 1,000 VND/kg compared to yesterday.

In the Southeast region, pepper prices today increased by 1,000 VND/kg compared to yesterday. Specifically, in Binh Phuoc, pepper prices today are at 150,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is at 149,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday.

Thus, after a day of uniform increase in all localities, domestic pepper prices today fluctuated in opposite directions, increasing and decreasing by 1,000 VND/kg in key localities for the second consecutive day. The highest pepper price was at 151,000 VND/kg.

Update on world pepper prices from the International Pepper Association (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 7,715 USD/ton, and the price of Muntok white pepper at 9,305 USD/ton.

The price of Brazilian ASTA 570 black pepper is at 6,900 USD/ton. The price of Malaysian ASTA black pepper is at 8,800 USD/ton; the price of this country's ASTA white pepper is at 11,200 USD/ton.

Vietnam black pepper price is traded at 6,800 USD/ton for 500 g/l; 550 g/l at 7,100 USD/ton; white pepper price at 10,150 USD/ton.

The US Federal Reserve's monetary policy has been adjusted after four years, affecting not only the US economy but also opening up opportunities for industries, including Vietnam's pepper industry.

The reduction of the basic interest rate to 0.5%, currently at 4.75-5%, has boosted consumer demand in the US and increased pepper exports from Vietnam to this market. This interest rate reduction is expected to have a major impact on the global pepper market.

Some experts believe that signs of supply shortage compared to demand will continue to be recorded and reflected in the market in the coming time until the crop season.

Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-22-9-2024-ca-phe-tiep-tuc-lao-doc-ho-tieu-tang-giam-trai-chieu/20240922085550616