DNVN - In the trading session on November 28, 2024, coffee prices continued to increase with a large amplitude, the increase reached about 2,300 VND/kg compared to the previous session. Domestic pepper prices also had significant growth compared to November 27, 2024.
Coffee prices skyrocket
On the London floor, the price of Robusta coffee on November 28, 2024 recorded a sharp increase from 358 - 390 USD/ton, equivalent to 5,533 - 5,360 USD/ton. Specifically, the delivery term in January 2025 reached 5,533 USD/ton (up 358 USD/ton); the delivery term in March 2025 reached 5,469 USD/ton (up 382 USD/ton); the delivery term in May 2025 reached 5,434 USD/ton (up 383 USD/ton); the delivery term in July 2025 reached 5,360 USD/ton (up 390 USD/ton).
On the New York floor, Arabica coffee prices also maintained an upward trend with an adjustment of 14.20 - 14.60 cents/lb, ranging from 310.20 - 323.05 cents/lb. Specifically, the March 2025 delivery period reached 323.05 cents/lb (up 14.20 cents/lb); the May 2025 delivery period reached 320.70 cents/lb (up 14.40 cents/lb); the July 2025 delivery period reached 315.70 cents/lb (up 14.60 cents/lb) and the September 2025 delivery period was 310.20 cents/lb (up 14.45 cents/lb).
The price of Brazilian Arabica coffee on the morning of November 28, 2024 had a notable fluctuation with an increase of 8.25 - 25.65 USD. The December 2024 delivery term reached 399.20 USD/ton (up 8.25 USD/ton); the March 2025 delivery term decreased slightly by 2.65 USD to 400.05 USD/ton; the May 2025 delivery term increased by 19.05 USD to 400.05 USD/ton; the July 2025 delivery term reached 393.25 USD/ton (up 25.65 USD/ton).
In the domestic market, coffee prices updated at 5:00 a.m. on November 28, 2024 also increased sharply by about 2,300 VND/kg. Currently, the average coffee price in the Central Highlands provinces is 124,000 VND/kg. Specifically, the purchase price in Gia Lai reached 123,900 VND/kg, Dak Nong and Dak Lak were the highest at 124,100 VND/kg.
In Lam Dong, the price of green coffee beans in Bao Loc, Di Linh, and Lam Ha districts was traded at 123,500 VND/kg. Meanwhile, the price of coffee in M'Gar district (Dak Lak) reached 124,000 VND/kg; in Ea H'leo and Buon Ho town, it fluctuated from 123,900 VND/kg.
The sharp increase in prices has brought high hopes to coffee growers, typically the family of Mr. Ho Trang Long in Dak Mil, Dak Nong. With an expected output of 3.5 tons of coffee beans, Mr. Long hopes that his income will improve significantly. However, he is also worried about the increased risk of theft and has implemented strict protection measures.
Along with the joy of high prices, some difficulties still exist such as early harvest and lack of labor, affecting coffee quality. According to Mr. Ngo Xuan Dong, Deputy Director of Dak Nong Department of Agriculture and Rural Development, harvesting when the fruit is not fully ripe can reduce the value of the product and negatively impact export reputation.
Pepper prices go up
Domestic pepper prices on November 28, 2024 continued to increase compared to yesterday. In Gia Lai, Dak Lak and Binh Phuoc provinces, pepper prices increased by VND 1,000/kg, while Dak Nong increased by VND 1,200/kg. Ba Ria - Vung Tau alone recorded a decrease of VND 1,000/kg.
The average domestic pepper price reached 141,300 VND/kg, an increase of 600 VND/kg compared to November 27, 2024. Of which, pepper price in Ba Ria - Vung Tau was at 140,000 VND/kg; Binh Phuoc 141,000 VND/kg; Gia Lai 141,500 VND/kg; Dak Lak 142,000 VND/kg. Dak Nong reached the highest level at 142,200 VND/kg.
In the international market, according to the International Pepper Community (IPC), the price of Indonesian Lampung black pepper decreased slightly by 0.42% to 6,596 USD/ton; the price of Muntok white pepper also decreased similarly, reaching 9,101 USD/ton. Meanwhile, the prices of Brazilian and Malaysian pepper remained stable. The price of Brazilian ASTA 570 black pepper remained at 6,000 USD/ton, while Malaysian ASTA black pepper was at 8,400 USD/ton. The price of Malaysian ASTA white pepper reached 10,500 USD/ton.
For Vietnam, the price of black pepper 500 g/l and 550 g/l remained at 6,200 - 6,500 USD/ton, while the price of white pepper reached 9,400 USD/ton.
It is forecasted that in the coming time, the area for pepper and spice cultivation may decrease to 110,000 hectares due to the impact of unfavorable weather, pests, and high prices of other agricultural products. In addition, expanding export markets is facing obstacles as technical standards become more and more stringent.
Vietnam is currently one of the world's largest pepper exporters, accounting for 11% of the global market share in 2023. In the first 10 months of 2024, export output reached 219,000 tons, mainly to the United States, EU, China, India and the Middle East.
Lan Le (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-28-11-2024-ca-phe-ho-tieu-dong-loat-tang-manh/20241128091642613
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