Agricultural product prices on December 31, 2024: Pepper fluctuates, coffee slightly decreases

DNVN - On December 31, 2024, coffee prices decreased by an average of VND 200/kg compared to the previous week, while pepper prices recorded mixed increases and decreases of about VND 500/kg. The current average pepper purchase price is VND 146,800/kg.

Coffee prices slightly adjusted

On the London floor, updated at 4:30 a.m. on December 30, 2024, the price of Robusta coffee futures for March 2025 closed at 4,953 USD/ton; the price of May 2025 futures recorded 4,884 USD/ton; the price of July 2025 futures reached 4,814 USD/ton and the price of September 2025 futures was 4,726 USD/ton.

On the New York floor, Arabica coffee futures for March 2025 closed at 322.65 cents/lb; May 2025 futures reached 317.60 cents/lb; July 2025 futures reached 311.05 cents/lb and September 2025 futures recorded 303.70 cents/lb.

For Brazilian Arabica coffee, the futures price for March 2025 was $402.55/ton; May 2025 was $395.80/ton; July 2025 was $387.05/ton; and September 2025 was $374.30/ton.

Domestic coffee prices updated at 5:00 a.m. on December 30, 2024 ranged from 120,300 - 121,000 VND/kg, down an average of 200 VND/kg compared to last week.

Specifically, in Lam Dong, the purchase price in Di Linh, Lam Ha districts and Bao Loc city reached 120,300 VND/kg. Dak Lak recorded the price in Cu M'gar district at 120,800 VND/kg, while Ea H'leo and Buon Ho town reached 120,700 VND/kg.

In Gia Lai, the coffee price in Chu Prong district reached 120,800 VND/kg, while Pleiku city and Ia Grai district both recorded 120,700 VND/kg. Kon Tum had a purchase price of 120,700 VND/kg. Dak Nong led the Central Highlands region with a price of 121,000 VND/kg in Gia Nghia town and Dak R'lap district.

The latest report shows that non-commercial speculators reduced their net long position by 2.78% to 38,156 lots in the week ending December 17.

The end of the year typically sees low trading volumes as investors await market trends in 2024 after this year's strong rally.

The market continues to monitor the coffee harvest in Vietnam and awaits the first estimate report on the Brazilian harvest, expected in the coming weeks.

The Bloomberg Commodity Index will also adjust its portfolio in mid-January.

Pepper prices fluctuate in opposite directions.

According to the update at 5:00 a.m. on December 31, 2024, domestic pepper prices increased and decreased slightly between localities, fluctuating by about 500 VND/kg. Currently, the average price is 146,800 VND/kg.

In Gia Lai, pepper prices fell slightly to VND146,000/kg (down VND500/kg) after several increases. In contrast, pepper prices in Binh Phuoc increased by VND500/kg, reaching VND147,000/kg. In Ba Ria - Vung Tau, Dak Nong and Dak Lak, the purchase price remained high at VND147,000/kg.

According to the International Pepper Association (IPC), world pepper prices updated at 5:00 a.m. on December 31 showed that the market remained stable, with pepper prices in Indonesia increasing from 38 to 49 USD/ton.

Specifically, Indonesian Lampung black pepper reached 6,855 USD/ton (up 38 USD/ton), while Muntok white pepper was purchased at 8,970 USD/ton (up 49 USD/ton).

Apart from Indonesia, pepper markets in other countries have seen little change. The price of Malaysian ASTA black pepper reached 8,500 USD/ton, while ASTA white pepper was at 10,700 USD/ton.

Brazilian ASTA 570 black pepper remained stable at $6,275/ton. Vietnamese black pepper export prices remained at $6,400/ton for 500 g/l and $6,700/ton for 550 g/l. White pepper exports reached a high of $9,600/ton.

According to businesses, domestic pepper prices remain around 146,500 - 147,500 VND/kg, an increase of 1,500 - 2,000 VND/kg compared to last week.

Experts say the FED’s interest rate cut could boost the economies of major importing countries, increasing demand for Vietnamese pepper in the US and EU markets. Pepper prices are forecast to enter a new growth cycle in early 2025.

Reduced global supply and increased demand from China and Europe are considered the main factors driving up pepper prices. In addition, increased transportation costs also contributed to the price increase.

Reports from Ptexim show that consumer demand in the US, Asian, EU and Chinese markets remains stable, but trading volumes are low and liquidity is limited.

The Import-Export Department (Ministry of Industry and Trade) commented that the market shows signs of speculation pushing prices up as demand from Europe and the US has decreased as businesses have completed orders. Currently, businesses are mainly delivering goods according to old contracts, while new purchases remain low.

According to data from the European Statistical Office, in the first 10 months of 2024, the EU imported 55.94 thousand tons of pepper from outside the bloc, worth nearly 282.5 million EUR (equivalent to 296.89 million USD), up 32.7% in volume and 55.6% in value over the same period last year.

Lan Le (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-31-12-2024-ho-tieu-bien-dong-ca-phe-giam-nhe/20241231103316923