Agricultural product prices on November 4, 2024: Coffee and pepper prices remain stable

DNVN - On November 4, 2024, coffee prices fluctuated between 106,000 - 106,500 VND/kg, the same as yesterday but down nearly 3,500 VND/kg compared to last week. Pepper prices remained stable in key regions, trading around 140,000 - 141,000 VND/kg.

Coffee prices range from 106,000-106,500 VND/kg

At the end of the trading session, the price of Robusta coffee on the London floor on November 4, 2024 at 5:00 a.m. decreased to 4,075 - 4,279 USD/ton. Specifically, the delivery term for January 2025 reached 4,279 USD/ton (down 90 USD/ton); the delivery term for March 2025 decreased to 4,208 USD/ton (down 73 USD/ton); the delivery term for May 2025 was at 4,150 USD/ton (down 66 USD/ton); the delivery term for July 2025 was 4,075 USD/ton (down 70 USD/ton).

Arabica coffee prices on the New York floor on the morning of November 4, 2024 recorded a decrease in the range of 239.20 - 242.95 cents/lb. Specifically, the delivery period for December 2024 was 242.95 cents/lb (down 1.20%); the delivery period for March 2025 was 242.40 cents/lb (down 1.26%); the delivery period for May 2025 was 241.35 cents/lb (down 1.27%); the delivery period for July 2025 was 239.20 cents/lb (down 1.22%).

In Brazil, Arabica coffee prices had mixed developments on the morning of November 4, 2024. The December 2024 delivery period recorded an increase of 0.25%, reaching 297.30 USD/ton; the March 2025 delivery period decreased by 1.04%, to 295.55 USD/ton; the May 2025 delivery period decreased by 1.37%, reaching 295.05 USD/ton; the July 2025 delivery period decreased by 1.32%, reaching 292.10 USD/ton.

Updated at 5:00 a.m. on November 4, 2024, domestic coffee prices fluctuated between 106,000 and 106,500 VND/kg. The average purchase price in the Central Highlands is currently 106,500 VND/kg, while the highest price recorded in Dak Nong and Dak Lak is 106,500 VND/kg.

In Gia Lai province (Chu Prong), the coffee purchase price reached 106,400 VND/kg, while Pleiku and La Grai were both at 106,300 VND/kg. In Kon Tum province, the coffee price remained at 106,400 VND/kg. Dak Nong province recorded the highest purchase price of 106,500 VND/kg.

The price of green coffee beans in Lam Dong, including Bao Loc, Di Linh, Lam Ha districts, is purchased at 106,000 VND/kg.

In Dak Lak, the coffee purchase price in Cu M'gar district reached 106,500 VND/kg, while in Ea H'leo district and Buon Ho town it was 107,600 VND/kg.

Compared to yesterday, domestic coffee prices continued to decrease. At the end of the week, domestic coffee prices decreased for the fifth consecutive week with a decrease of 3,300 - 3,500 VND/kg, fluctuating around 106,000 - 106,500 VND/kg. In the whole month of October 2024, coffee prices decreased by a total of 14,000 VND/kg and are currently at 106,000 - 106,500 VND/kg.

According to experts and the Vietnam Coffee and Cocoa Association (Vicofa), in the current volatile context, coffee prices may continue to decrease in the short term. The market is experiencing many fluctuations, so businesses and growers need to be cautious in transactions to cope with unpredictable changes.

Vicofa said that the 2023-2024 crop year shows that Vietnam's coffee export output will decrease, but the value will increase thanks to the record price in more than 30 years. Total export output will reach 1.45 million tons, with turnover reaching about 5.4 billion USD, up 33% in value although the volume will decrease by 12.7%.

Pepper prices are stable

On November 4, 2024, pepper prices in the Southeast remained stable, fluctuating around 140,000 - 141,000 VND/kg; Dak Nong, Ba Ria - Vung Tau, Dak Lak recorded the highest prices.

In Dak Lak, pepper price reached 141,000 VND/kg. In Chu Se (Gia Lai), pepper price was recorded at 140,000 VND/kg. Pepper price in Dak Nong today reached 141,000 VND/kg.

Pepper prices in the Southeast region today remained unchanged compared to yesterday. In Binh Phuoc, pepper prices remained at 140,000 VND/kg; while in Ba Ria – Vung Tau, they were recorded at 141,000 VND/kg.

Thus, after 2 consecutive days of decline, pepper prices today have not fluctuated in key growing areas. The highest price recorded is 141,000 VND/kg. In summary, pepper prices decreased by an average of 2,000 - 2,500 VND/kg last week.

Updated from the International Pepper Community (IPC), at the end of the most recent trading session, the price of Indonesian Lampung black pepper reached 6,683 USD/ton, unchanged from yesterday; the price of Muntok white pepper was stable at 9,150 USD/ton.

The price of ASTA 570 black pepper from Brazil was recorded at USD 6,400/ton. In Malaysia, the price of ASTA black pepper was at USD 8,500/ton, while the price of ASTA white pepper reached USD 11,000/ton.

Vietnam black pepper prices were stable at $6,500/ton for 500g/l and $6,800/ton for 550g/l. White pepper prices were traded at $9,500/ton.

The global pepper market is currently worth $5.43 billion and is forecast to grow by more than 20% between 2024 and 2032. The Vietnam Pepper Association (VPA) estimates that Vietnam's pepper output in the 2023-2024 crop will increase by 5% to 225,000 tons. According to the Vietnam Pepper and Spices Association, pepper prices are in a new 10-15 year growth cycle, with the potential to reach VND350,000-400,000/kg.

In the long term, pepper prices will be boosted by reduced supply, especially as the 2025 crop may be harvested late due to drought. This will disrupt supply, creating opportunities for prices to increase.

It is forecasted that in the next 3-5 years, the global pepper market will face a shortage of supply. The Vietnamese pepper industry needs to focus on improving quality, diversifying markets and meeting clean, organic consumption standards in developed markets such as the EU and North America.

Lan Le (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-4-11-2024-ca-phe-ho-tieu-giu-gia/20241104083240011