Agricultural product prices on November 6, 2024: Coffee increased by 400 - 500 VND/kg, pepper continued to be stable

DNVN - On November 6, 2024, coffee prices increased by 400 - 500 VND/kg, currently fluctuating at 105,900 - 106,400 VND/kg. Pepper prices remain stable in key growing areas, with the highest price reaching 141,000 VND/kg.

Coffee prices increased slightly

At the end of the trading session, the price of Robusta coffee on the London floor on November 6, 2024, at 5:00 a.m., increased to 4,171 - 4,372 USD/ton. Specifically, the delivery term for January 2025 was 4,372 USD/ton (up 54 USD/ton); the delivery term for March 2025 was 4,303 USD/ton (up 54 USD/ton); the delivery term for May 2025 was 4,244 USD/ton (up 47 USD/ton), and the delivery term for July 2025 was 4,171 USD/ton (up 46 USD/ton).

On the New York Stock Exchange, the price of Arabica coffee on the morning of November 6, 2024 recorded an increase from 246.00 to 250.15 cents/lb. In more detail, the December 2024 delivery term was priced at 250.15 cents/lb (up 1.71%); the March 2025 delivery term was 249.40 cents/lb (up 1.82%); the May 2025 term was 248.15 cents/lb (up 1.78%), and the July 2025 term was 246.00 cents/lb (up 4.30%).

The price of Brazilian Arabica coffee also increased on the morning of November 6, 2024. The December 2024 delivery period was 305.55 USD/ton (up 0.43%); the March 2025 delivery period was 304.75 USD/ton (up 0.33%); the May 2025 delivery period was 304.05 USD/ton (up 1.93%), and the July 2025 delivery period was 301.10 USD/ton (up 1.93%).

Domestic coffee prices updated at 5:00 a.m. on November 6, 2024 increased by 400 - 500 VND/kg, ranging from 105,900 to 106,400 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 106,300 VND/kg, the highest price recorded in Dak Nong, Dak Lak , Gia Lai, and Kon Tum is 106,400 VND/kg.

In detail, coffee in Gia Lai (Chu Prong) reached 106,400 VND, an increase of 500 VND/kg compared to yesterday; prices in Pleiku and La Grai were both at 106,300 VND/kg. In Kon Tum, prices also increased to 106,400 VND/kg, an increase of 500 VND/kg compared to the previous day; in Dak Nong , coffee had the highest price at 106,400 VND/kg, an increase of 400 VND/kg compared to the previous day.

In Lam Dong , green coffee prices in districts such as Bao Loc, Di Linh and Lam Ha were purchased at 105,900 VND/kg, an increase of 400 VND/kg compared to yesterday.

Coffee price in Dak Lak, on November 6 in Cu M'gar district was 106,400 VND/kg, an increase of 400 VND/kg compared to the previous day; in Ea H'leo district and Buon Ho town, coffee was purchased at 106,300 VND/kg.

Vietnam currently ranks second in the world in coffee production, behind only Brazil, and considers it one of the country's key agricultural exports. Statistics show that in 2023, Vietnam exported 1.61 million tons of coffee, earning 4.18 billion USD. In the first half of this year, coffee exports reached 1 million tons, worth about 2.4 billion USD, of which the Central Highlands region, especially Gia Lai, is the focus of production.

Coffee prices fluctuate frequently, causing many challenges for farmers and exporting businesses. To minimize risks and stabilize the market, Mr. Tran Van Binh, Director of Saigon Invest Commodity Trading Joint Stock Company, commented that the establishment of a coffee trading floor in Gia Lai will bring great benefits. This floor helps producers and importers manage price fluctuations through futures contracts, improving transparency and market liquidity.

Pepper prices remain stable

On November 6, 2024, pepper prices in the Southeast continued to be stable in most key regions, fluctuating around 140,000 - 141,000 VND/kg; the highest price was in Dak Nong and Dak Lak.

Specifically, the price of pepper in Dak Lak is currently being purchased at 141,000 VND/kg. In Gia Lai (Chu Se), the purchase price is recorded at 140,000 VND/kg, while in Dak Nong the price also reached 141,000 VND/kg.

In the Southeast, pepper prices today have changed compared to yesterday. In Binh Phuoc, pepper prices are currently at 140,000 VND/kg. Meanwhile, in Ba Ria - Vung Tau, the price is 140,000 VND/kg, down 1,000 VND/kg compared to yesterday.

Thus, domestic pepper prices continue to be stable in key localities. The highest pepper price remains at 141,000 VND/kg.

According to an update from the International Pepper Community (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6,665 USD/ton, down 0.09% compared to yesterday; the price of Muntok white pepper reached 9,125 USD/ton, down 0.09%.

The price of Brazilian ASTA 570 black pepper is currently at $6,300/ton, down 1.59%. The price of Malaysian ASTA black pepper is at $8,500/ton; the price of this country's ASTA white pepper is at $11,000/ton.

Vietnam's black pepper prices are currently stable at 6,500 USD/ton for 500 g/l and 6,800 USD/ton for 550 g/l; white pepper prices are at 9,500 USD/ton.

In recent weeks, selling pressure from dealers has increased as the coffee harvest season begins. Farmers and dealers need large capital for coffee, so they have sold pepper to rotate capital. This has caused pepper trading volume to increase in the last weeks of October, creating downward pressure on prices.

Export enterprises assessed that although pepper turnover has increased sharply in recent times, they still face many challenges in production and business.

For example, the high prices of agricultural products such as coffee and pepper have made it difficult for businesses to purchase raw materials, many orders have to suffer losses when buying at high prices to have enough goods to deliver to partners. In addition, the psychology of farmers to stockpile goods has also been affected, because this year the prices of agricultural products have increased, many households have made a profit and are no longer in a hurry to sell pepper to turn over capital as before.

Lan Le (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-6-11-2024-ca-phe-tang-tang-400-500-dong-kg-ho-tieu-tiep-tuc-on-dinh/20241106094711825