DNVN - The agricultural market on September 24, 2024 witnessed remarkable price fluctuations. Coffee prices decreased slightly by 500 VND/kg, ranging from 119,000 - 119,500 VND/kg. In contrast, pepper prices increased sharply from 1,500 - 2,500 VND/kg compared to yesterday, currently trading around 151,500 - 153,500 VND/kg, with the highest price recorded in Dak Lak at 153,500 VND/kg.
Coffee prices fell slightly
In the trading session on September 24, 2024, the Robusta coffee market on the London floor recorded a trading volume ranging from 4,682 - 5,276 tons. The November 2024 delivery term reached 5,276 USD/ton, up 217 USD/ton; the January 2025 term reached 5,003 USD/ton, up 200 USD/ton; the March 2025 term was 4,816 USD/ton, up 202 USD/ton and the May 2025 term reached 4,682 USD/ton, up 197 USD/ton.
On the New York floor, the price of Arabica coffee on the morning of September 24, 2024 also increased sharply, ranging from 12.05 - 12.90 cents/lb. The December 2024 delivery period reached 263.65 cents/lb, up 5.14%; the March 2025 delivery period reached 261.30 cents/lb, up 5.09%; the May 2025 delivery period was 258.80 cents/lb, up 5.01% and the July 2025 delivery period reached 255.85 cents/lb, up 4.94%.
Meanwhile, the price of Brazilian Arabica coffee on the morning of September 24, 2024 had mixed developments. The December 2024 delivery period decreased slightly by 0.03% to 313.85 USD/ton; the March 2025 delivery period increased by 3.89% to 313.55 USD/ton; the May 2025 delivery period increased by 5.42% to 318.10 USD/ton and the July 2025 delivery period increased by 5.35% to 314.25 USD/ton.
In the domestic market, updated at 5:00 a.m. on September 24, 2024, coffee prices decreased by VND 500/kg, ranging from VND 119,000 - VND 119,500/kg. The Central Highlands provinces recorded an average price of VND 119,300/kg, the highest in Dak Nong, Dak Lak, Kon Tum and Gia Lai at VND 119,500/kg.
Specifically, in Gia Lai (Chu Prong), coffee prices decreased by VND500, to VND119,500/kg; Pleiku and La Grai both had prices of VND119,400/kg. Kon Tum and Dak Nong provinces also recorded similar decreases, with prices currently at VND119,500/kg. In Lam Dong, green coffee prices dropped to VND119,000/kg in Bao Loc, Di Linh, and Lam Ha districts.
Dak Lak also decreased by 500 VND/kg with coffee price in Cu M'gar at 119,500 VND/kg, Ea H'leo and Buon Ho traded around 119,400 VND/kg.
Over the past week, the international coffee market has witnessed a surge in prices. Robusta coffee prices on the London exchange reached a record high of $5,334 per tonne, with robusta and arabica up 80% and 57%, respectively, compared to the same period last year. The main reason is that adverse weather has affected the coffee crop in Brazil and Vietnam, the world's two leading coffee producers. Prolonged drought has reduced coffee production, failing to meet the increased demand.
New European Union anti-deforestation regulations, which are expected to come into effect later this year, have also prompted traders to buy coffee ahead of the rules. While coffee prices at coffee shops have not changed much, they are expected to rise in the coming months as Vietnam experiences its worst drought in a decade, forcing farmers to switch to other crops such as durian.
Pepper prices increase sharply
On September 24, 2024, pepper prices in key regions increased by 1,500 - 2,500 VND/kg compared to yesterday. In Dak Lak, pepper prices reached 153,500 VND/kg, an increase of 2,500 VND/kg. In Chu Se (Gia Lai), pepper purchasing prices were at 152,000 VND/kg, an increase of 2,000 VND/kg. Dak Nong also recorded an increase of 2,000 VND/kg in pepper prices, to 153,000 VND/kg.
The Southeast region also witnessed an increase in pepper prices. In Binh Phuoc and Ba Ria - Vung Tau, pepper prices both increased by VND1,500/kg, reaching VND151,500/kg.
Thus, domestic pepper prices on September 24, 2024 increased sharply from 1,500 - 2,500 VND/kg in key localities, with the highest price being 153,500 VND/kg in Dak Lak.
In the world market, the International Pepper Association (IPC) reported that at the end of the most recent trading session, the price of Indonesian Lampung black pepper decreased by 11.57% to 6,917 USD/ton; while the price of Muntok white pepper increased by 0.98% to 9,397 USD/ton. The price of Brazilian ASTA 570 black pepper reached 6,900 USD/ton; Malaysian ASTA black pepper reached 8,800 USD/ton, and this country's ASTA white pepper reached 11,200 USD/ton. The price of Vietnamese black pepper 500 g/l reached 6,800 USD/ton and 550 g/l reached 7,100 USD/ton, the price of white pepper was at 10,150 USD/ton.
After a decline at the beginning of the week, domestic pepper prices have shown signs of recovery. The Fed's decision to cut interest rates did not have a major impact on domestic pepper prices, but the weakening of the US dollar contributed to the increase in world pepper prices. Scarce supply after the recent export season is also a factor that has kept the pepper market quiet. In the first half of September 2024, Vietnam exported 6,917 tons of pepper, earning 42.3 million USD, down 30% compared to the previous month.
Limited global supplies are expected to continue to push pepper prices higher in the future. Experts predict prices could exceed VND160,000/kg before the new harvest season in Vietnam.
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Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-24-9-2024-ho-tieu-tang-manh-ca-phe-giam-nhe/20240924082545964
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