Agricultural product prices on December 10, 2024: Coffee and pepper both saw a slight decrease.

DNVN - Updated agricultural product prices on December 10, 2024: Coffee prices decreased by 2,000 VND/kg compared to the previous day. In the Central Highlands, the average purchase price of coffee is currently 122,000 VND/kg, while pepper prices decreased slightly by 300 VND/kg compared to yesterday.

Coffee prices reverse course and fall.

Agricultural commodity prices on December 8, 2024: Pepper and coffee continue their strong upward trend.

At the close of this morning's trading session, Robusta coffee prices on the London exchange rose slightly compared to the previous session, fluctuating between $5,040 and $5,246 per ton, an increase of $40 to $93 per ton depending on the contract term. Specifically, the January 2025 contract reached $5,246 per ton (up $93), the March 2025 contract was $5,200 per ton (up $84), the May 2025 contract was $5,140 per ton (up $75), and the July 2025 contract reached $5,040 per ton (up $40).

In New York, Arabica coffee prices this morning showed mixed movements depending on the contract period, fluctuating between 314.35 and 330.10 cents/lb with increases and decreases of 0.05 to 0.20 cents/lb. Specifically, the March 2025 contract reached 330.10 cents/lb (down 0.15 cents/lb), the May 2025 contract increased by 0.05 cents/lb to 327.65 cents/lb, the July 2025 contract reached 322.25 cents/lb (up 0.30 cents/lb), and the September 2025 contract increased by 0.20 cents/lb to 314.35 cents/lb.

Brazilian Arabica coffee prices this morning also saw fluctuations depending on the contract period, ranging from 0.05 to 1.10 USD/ton. Specifically, the December 2024 contract increased by 0.25 USD to 412.00 USD/ton; the March 2025 contract saw the strongest increase, reaching 412.50 USD/ton (up 1.10 USD); the May 2025 contract was at 409.20 USD/ton (up 0.05 USD) and the July 2025 contract reached 401.90 USD/ton (up 0.40 USD).

Domestically, coffee prices on the morning of December 10th reversed course and fell by 2,000 VND/kg, with the average price in the Central Highlands provinces currently at 122,000 VND/kg. Areas such as Gia Lai, Dak Nong , and Dak Lak all recorded this price, while Lam Dong was lower at 121,000 VND/kg.

In Cu M'gar district ( Dak Lak ), the price of coffee this morning reached 122,000 VND/kg, while Ea H'leo and Buon Ho town recorded a price of 121,900 VND/kg.

Coffee is one of the most traded commodities globally, with ever-increasing demand, particularly in the Chinese market. However, only a few tropical countries such as Brazil, Vietnam, Colombia, Indonesia, and Ethiopia can meet this demand, amidst the severe impacts of climate change.

Two weeks ago, Nestle SA, the world's largest coffee producer, announced that coffee prices would continue to rise, which has put significant price pressure on consumers.

According to Reuters on December 5, 2024, global coffee prices reached their highest level in nearly 50 years due to unfavorable weather in Brazil and Vietnam. This forced roasters like Nestlé to raise prices, while consumers sought cheaper coffee options during a period of rising living costs.

This price increase benefits farmers this season, but creates difficulties for traders who face high hedging costs and supply shortages.

Pepper prices have decreased slightly.

Domestic pepper prices on December 10, 2024 decreased by 300 VND/kg, averaging 146,200 VND/kg. In Gia Lai, prices fell by 500 VND/kg, while in Binh Phuoc, prices dropped by as much as 1,000 VND/kg.

Specifically, pepper prices in Binh Phuoc are at 145,000 VND/kg, in Gia Lai and Ba Ria - Vung Tau at 146,000 VND/kg, in Dak Lak at 147,000 VND/kg, and highest in Dak Nong, at 147,200 VND/kg.

According to the International Pepper Association (IPC), the global pepper market is relatively stable, except for Indonesia. Indonesian Lampung black pepper reached US$6,841 per ton (up 2.02%), while Muntok white pepper saw a slight decrease of 0.08%, at US$9,147 per ton.

Brazilian black pepper prices remained stable at US$6,275/ton; Malaysian ASTA black and white pepper were priced at US$8,200/ton and US$10,400/ton respectively. In Vietnam, black pepper prices (500 g/l and 550 g/l) were US$6,200/ton and US$6,500/ton respectively, while white pepper remained unchanged at US$9,300/ton.

The weather conditions in Vietnam, with prolonged periods of rain following the drought earlier in the year, are favorable for pepper plant growth, helping to increase yields in the next crop. Harvesting is expected to begin in February 2025.

According to experts, pepper prices have now entered a new upward cycle due to reduced supply. Demand for the year-end holidays and information about low export volumes in Vietnam are also supporting the market.

However, farmers are advised not to rush to sell their pepper at this time, to avoid the risk of price fluctuations and to limit borrowing to stockpile pepper.

Currently, pepper prices are fluctuating around 146,000 VND/kg, bringing positive signals for pepper growers after a long period of stagnation. The scarcity of supply over the past 6-8 years, combined with stable export demand from the US and EU, has contributed to the sharp price increase.

Comment (0)