DNVN - On the morning of September 25, 2024, coffee prices recorded an increase of VND 1,200/kg, ranging from VND 120,200 - 120,700/kg. In contrast, pepper prices decreased by VND 500 - 1,500/kg compared to yesterday, currently trading around VND 150,000 - 153,000/kg.
Coffee prices increase sharply
At the end of the trading session on September 25, 2024, Robusta coffee prices on the London floor increased sharply. At 5:00 a.m., Robusta prices were trading at 4,709 - 5,312 USD/ton. The November 2024 delivery period was 5,312 USD/ton, up 36 USD/ton; the January 2025 delivery period was 5,035 USD/ton, up 32 USD/ton; the March 2025 delivery period was 4,846 USD/ton, up 30 USD/ton; and the May 2025 delivery period was 4,709 USD/ton, up 27 USD/ton.
Arabica coffee prices on the New York floor also increased simultaneously, from 4.15 - 4.55 cents/lb. Specifically, the December 2024 futures increased by 1.57% to 267.80 cents/lb; the March 2025 futures increased by 1.74% to 265.85 cents/lb; the May 2025 futures increased by 1.76% to 263.35 cents/lb; and the July 2025 futures increased by 1.72% to 260.25 cents/lb.
In Brazil, Arabica coffee prices also increased. The December 2024 delivery contract increased by 0.20% to $318.35/ton; the March 2025 contract increased by 1.67% to $318.80/ton; the May 2025 contract increased by 1.89% to $324.10/ton; and the July 2025 contract increased by 1.85% to $320.05/ton.
Domestic coffee prices updated at 5:00 a.m. on September 25, 2024 increased by VND 1,200/kg, ranging from VND 120,200 - VND 120,700/kg. In the Central Highlands provinces, the average coffee price reached VND 120,500/kg, of which Dak Nong, Dak Lak, Kon Tum and Gia Lai had the highest price of VND 120,700/kg.
Specifically, the price of coffee in Chu Prong (Gia Lai) reached 120,700 VND/kg, an increase of 1,200 VND/kg compared to yesterday. In Pleiku and La Grai, the price of coffee was 120,600 VND/kg, respectively. In Kon Tum and Dak Nong, the price of coffee was both at 120,700 VND/kg, an increase of 1,200 VND/kg compared to yesterday.
The price of green coffee beans in Lam Dong (Bao Loc, Di Linh, Lam Ha) also increased by VND1,200/kg, to VND120,200/kg.
In Dak Lak, the coffee price on the morning of September 25, 2024 in Cu M'gar reached 120,700 VND/kg, an increase of 1,200 VND/kg. In Ea H'leo and Buon Ho, the coffee price reached 120,600 VND/kg.
Vietnam is currently the world's second largest coffee exporter and the leading exporter of Robusta. The quality of Vietnamese Robusta coffee is improving, helping to increase its popularity in the international market.
According to the forecast of the major coffee trading company Volcafe, the market will have a global shortage of Robusta coffee in the period of 2024-2025 due to the decrease of coffee growing area in Vietnam. Vietnamese farmers are shifting to more profitable crops such as durian and avocado. The USDA report also shows that the depletion of groundwater and lack of shade are major challenges for the Vietnamese coffee industry.
Despite forecasted lower output due to drought, coffee prices are still providing good income for growers. It is expected that from October 2024, when the harvest season begins, Vietnam could achieve record coffee export revenue of up to $6 billion this year.
Pepper prices plummet
Meanwhile, domestic pepper prices on September 25, 2024 recorded a sharp decrease of 500 - 1,500 VND/kg compared to yesterday. Pepper prices were traded in the range of 150,000 - 153,000 VND/kg, with the highest price in Dak Lak at 153,000 VND/kg.
Specifically, in Dak Lak, pepper price reached 153,000 VND/kg, down 500 VND/kg compared to the previous day. In Chu Se (Gia Lai), pepper price remained at 152,000 VND/kg. In Dak Nong, pepper price today decreased 1,000 VND/kg, down to 152,000 VND/kg.
In the Southeast region, pepper prices today decreased by 500 - 1,500 VND/kg. In Binh Phuoc, pepper prices decreased by 1,500 VND/kg to 150,000 VND/kg. In Ba Ria - Vung Tau, pepper prices decreased by 500 VND/kg to 151,000 VND/kg.
Thus, domestic pepper prices today decreased from 500 - 1,500 VND/kg in key areas, with the highest price reaching 153,000 VND/kg.
In the world market, according to the International Pepper Community (IPC), the price of Indonesian Lampung black pepper reached 6,920 USD/ton, up 0.04%; the price of Muntok white pepper reached 9,400 USD/ton, up 0.03%. Meanwhile, the price of Brazilian ASTA 570 black pepper decreased by 2.22% to 6,750 USD/ton. In Malaysia, the price of ASTA black pepper reached 8,800 USD/ton and the price of ASTA white pepper was 11,200 USD/ton.
Statistics show that global pepper exports are fluctuating. While Vietnam and Brazil, the two largest exporters, saw a decline, Indonesia and India saw strong growth, posting double-digit increases.
The impact of El Nino has caused drought, reducing pepper production in major producing countries such as Brazil, Vietnam, Indonesia, India, Malaysia and Sri Lanka. Experts predict that the supply shortage may last until the new harvest season begins.
Domestically, dealers and producers are in no rush to sell, holding onto inventories and not worried about falling prices. The pepper market has been quiet with few transactions, as buyers and suppliers alike remain cautious.
Hung Le (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-25-9-2024-ho-tieu-lao-doc-ca-phe-tang-manh/20240925082658816
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