DNVN - On October 24, 2024, agricultural product prices fluctuated when coffee prices dropped sharply from 1,600 - 1,900 VND/kg, bringing prices to around 109,400 - 109,700 VND/kg. Meanwhile, pepper prices skyrocketed from 1,000 - 1,500 VND/kg compared to the previous day, reaching 145,000 - 146,500 VND/kg.
Coffee prices have dropped significantly.
At the end of the trading session on October 24, 2024, Robusta coffee prices on the London floor fluctuated in the range of 4,283 - 4,482 USD/ton. Specifically, the futures price for November 2024 delivery reached 4,482 USD/ton (down 5 USD/ton); the futures price for January 2025 delivery reached 4,443 USD/ton (up 18 USD/ton); the futures price for March 2025 was 4,357 USD/ton (up 22 USD/ton) and the futures price for May 2025 was 4,283 USD/ton (up 20 USD/ton).
In contrast, the price of Arabica coffee on the New York floor on the morning of October 24, 2024 increased from 246.80 - 252.35 cents/lb. Specifically, the December 2024 delivery period reached 252.35 cents/lb (up 1.00%); the March 2025 delivery period was 251.05 cents/lb (up 0.92%); the May 2025 delivery period reached 249.55 cents/lb (up 0.95%) and the July 2025 delivery period reached 246.80 cents/lb (up 0.98%).
Similarly, the price of Brazilian Arabica coffee also fluctuated. The December 2024 delivery period was 303.50 USD/ton (down 0.25%); the March 2025 delivery period was 304.00 USD/ton (down 0.20%); the May 2025 delivery period was 305.90 USD/ton (up 1.02%) and the July 2025 delivery period was 302.15 USD/ton (up 1.05%).
Domestically, coffee prices updated at 5:00 a.m. on October 24, 2024 decreased sharply from 1,600 - 1,900 VND/kg, fluctuating between 109,400 - 109,700 VND/kg. The average purchase price in the Central Highlands provinces is 109,400 VND/kg, of which the highest price recorded in Dak Nong province is 109,700 VND/kg.
More specifically, the coffee price in Gia Lai province (Chu Prong) reached 109,600 VND/kg, down 1,800 VND/kg compared to the previous day; in Pleiku and La Grai, the price was 109,500 VND/kg; in Kon Tum province, the coffee price was 109,600 VND/kg, down 1,800 VND/kg compared to the previous day; while Dak Nong recorded the highest price at 109,700 VND/kg, down 1,900 VND/kg compared to the previous day.
In Lam Dong province, green coffee beans were purchased in Bao Loc, Di Linh and Lam Ha at VND109,400/kg, down VND1,600/kg compared to yesterday.
On October 24, coffee prices in Dak Lak also decreased, specifically in Cu M'gar district at 109,600 VND/kg, down 1,800 VND/kg; in Ea H'leo and Buon Ho town at 109,700 VND/kg.
Domestic coffee prices continue to fall, approaching VND100,000/kg, causing concern for farmers as the main harvest season approaches.
The coffee market is under pressure as the supply from the new crop in Vietnam is about to be released, combined with the impact of a strong USD and favorable weather conditions in Brazil, signaling a bumper crop in the upcoming season, further cooling the market. The USD has risen to its highest level in more than 2 months, raising expectations that the US Federal Reserve (Fed) will change its policy of cutting interest rates, while investors are waiting for the upcoming US presidential election.
Coffee farmers said that coffee flowers have bloomed again after the rains, showing positive signs of production recovery after a long drought. However, the recovery and supply outlook for the 2025/26 crop will need to be closely monitored due to the late arrival of rains.
According to dealers, overseas demand for coffee is falling as many countries have stabilized supplies from other markets. In particular, the EU’s delay of deforestation regulations until the end of 2024 has reduced the urgency to make new deals, making the market more subdued.
Pepper prices increase sharply
On October 24, 2024, pepper prices in the Southeast region increased by 1,000 - 1,500 VND/kg compared to the previous day, fluctuating around 145,000 - 146,500 VND/kg. In Dak Lak and Dak Nong, the highest purchase price reached 146,500 VND/kg.
Specifically, in Dak Lak, pepper price reached 146,200 VND/kg, an increase of 1,200 VND/kg compared to the previous day. In Chu Se (Gia Lai), pepper was purchased at 145,200 VND/kg, an increase of 1,000 VND/kg. In Dak Nong, pepper price was recorded at the highest level of 146,500 VND/kg, an increase of 1,500 VND/kg compared to the previous day.
In the Southeast region, pepper prices today fluctuated, specifically in Binh Phuoc, pepper prices were 145,000 VND/kg, an increase of 1,000 VND/kg compared to the previous day; and in Ba Ria - Vung Tau, pepper prices reached 145,000 VND/kg, also an increase of 1,000 VND/kg.
Thus, after a day of slight increase, pepper prices in key regions increased sharply, with the highest recorded level of 146,500 VND/kg, fluctuating between 145,000 - 146,500 VND/kg.
Update from the International Pepper Community (IPC) said that at the end of the most recent trading session, the price of Indonesian Lampung black pepper decreased by 0.39% to 6,727 USD/ton, while the price of Muntok white pepper decreased by 0.39% to 9,210 USD/ton.
Brazilian ASTA 570 black pepper prices increased to $6,400/ton. In Malaysia, ASTA black pepper prices remained stable at $8,700/ton, while ASTA white pepper prices remained stable at $11,200/ton.
For Vietnamese pepper, the price of 500 g/l black pepper is traded at 6,500 USD/ton; 550 g/l is 6,800 USD/ton, and the price of white pepper is 9,500 USD/ton.
In the first 15 days of October, the average export price of Vietnamese pepper exceeded 6,500 USD/ton, a slight increase of 0.7% compared to the previous month and a sharp increase of 67.6% compared to the same period last year, reaching the highest level since March 2017. Since the beginning of the year, the average export price has reached 5,005 USD/ton, an increase of 50.1% compared to the same period, although the export volume decreased by 2.5%.
Thanks to the increase in pepper prices, pepper export turnover still increased strongly by 46.4%, reaching 208,776 tons, bringing in 1.04 billion USD. Although this figure is slightly lower than the data of the Vietnam Pepper and Spice Association (VPSA), the results show that Vietnam has surpassed the 1 billion USD mark in pepper exports for the first time in 8 years.
The Ministry of Industry and Trade forecasts that world pepper prices will remain high in the short term due to scarce supply, benefiting the Vietnamese pepper industry. However, high prices also cause demand to decline, especially from the Chinese market, affecting the industry's growth momentum.
Ganoderma (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-24-10-2024-ca-phe-giam-manh-ho-tieu-tang-vot/20241024081114832
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