Agricultural product prices on September 23, 2024: Pepper may exceed 160,000 VND/kg

Agricultural product prices on September 23, 2024, coffee remained stable after falling by 2,000-2,200 VND/kg at the end of last week. Pepper prices remained stable in key localities. The highest pepper price was at 151,000 VND/kg.

Coffee prices remain flat

At the end of the trading session, the price of Robusta coffee on the London floor on September 23, 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 23, 2024, were dominated by red, 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 23, 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%.

Coffee prices in the Central Highlands today remained stable after falling by 2,000-2,200 VND/kg at the end of last week. This brought the average coffee price to around 119,800 VND/kg in the Central Highlands. Specifically:

Coffee prices today in Dak Lak remained stable, reaching 120,000 VND/kg.

Coffee prices today in Lam Dong also remained stable, reaching 119,500 VND/kg.

Coffee prices today in Gia Lai remain stable at 120,000 VND/kg.

Today's coffee price in Dak Nong is stable, reaching 120,000 VND/kg, equal to the coffee purchase price in Dak Lak and Gia Lai and is the highest coffee purchase price in the Central Highlands region today.

The Vietnam Coffee and Cocoa Association (VICOFA) said that domestic coffee prices are expected to remain stable because supply has been exhausted and there are few transactions. Vietnam harvests coffee in November and December, so in September and October every year, the coffee output supplied to the market is at its lowest level of the year.

The world’s two largest suppliers, Brazil and Vietnam, have both suffered crop failures due to climate change, which has impacted prices. In addition, speculation on the London exchange has also caused strong fluctuations in coffee prices.

Pepper prices are stable

Pepper price today, September 23, 2024, in key areas is stable compared to yesterday and traded around 149,000 - 151,000 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces is 151,000 VND/kg.

Accordingly, the price of Dak Lak pepper was purchased at 151,000 VND/kg, unchanged from yesterday. The price of Chu Se pepper (Gia Lai) was purchased at 150,000 VND/kg, unchanged from yesterday. The price of Dak Nong pepper today is at 151,000 VND/kg, unchanged from yesterday.

In the Southeast region, pepper prices today have slowed down following the general trend compared to yesterday. Specifically, in Binh Phuoc, pepper prices today are at 150,000 VND/kg, stable compared to yesterday. In Ba Ria - Vung Tau, it is at 149,000 VND/kg, unchanged compared to yesterday.

Illustration photo. (Photo source: Internet)

Thus, domestic pepper prices today maintained a sideways trend in key localities. 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's black pepper price is trading 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...

According to records, current pepper prices help local pepper growers feel excited, reviving production spirit before entering this year's harvest.

Experts say pepper prices could rise above VND160,000/kg before the harvest season in Vietnam. One of the main reasons for the recent increase in pepper prices is limited supply worldwide.

Even Indonesia and India are experiencing limited supply, as are smaller producers like Malaysia and Sri Lanka. Meanwhile, the two countries that determine global supply, Brazil and Vietnam, have both seen reduced production due to drought caused by El Nino. Although there are forecasts for higher production in Vietnam next year, with the current erratic weather conditions, nothing can be said for sure.

Looking long term in the next 3-5 years, the amount of pepper produced cannot meet the world's consumption demand.

According to Consumption

Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-23-9-2024-ho-tieu-co-the-vuot-160-000-dong-kg/20240923083602600