Agricultural product prices on October 11, 2024: Coffee prices increased slightly, pepper prices decreased

DNVN - On October 11, 2024, coffee prices were slightly adjusted up in some localities, increasing by an average of 100 VND/kg, fluctuating between 112,800 - 113,500 VND/kg. In contrast, pepper prices turned down by 1,000 VND/kg compared to the previous day, trading at 145,000 - 147,000 VND/kg.

Coffee prices increased slightly

At the end of the trading session on October 11, 2024, the price of Robusta coffee on the London floor recorded an increase with a total trading volume of 4,475 to 4,914 tons. Specifically, the delivery term for November 2024 reached 4,914 USD/ton, an increase of 49 USD/ton; the delivery term for January 2025 was 4,742 USD/ton, an increase of 41 USD/ton; the delivery term for March 2025 reached 4,598 USD/ton, an increase of 50 USD/ton; and the delivery term for May 2025 reached 4,475 USD/ton, an increase of 53 USD/ton.

On the New York floor, the price of Arabica coffee on the morning of October 11, 2024 also increased from 4.45 - 4.70 cents/lb. Specifically, the December 2024 delivery period increased by 1.88%, reaching 254.75 cents/lb; the March 2025 delivery period increased by 1.87% to 253.45 cents/lb; the May 2025 delivery period reached 251.60 cents/lb, up 1.86%; and the July 2025 delivery period increased by 1.82%, reaching 249.15 cents/lb.

Brazilian Arabica coffee prices on the morning of October 11, 2024, moved in opposite directions, with the December 2024 delivery term down 0.24% to $305.50/ton. Meanwhile, the March 2025 term increased 1.76% to $306.15/ton; the May 2025 term increased 2.02% to $308.65/ton; and the July 2025 term increased 1.97% to $305.30/ton.

In the domestic market, the coffee price on the morning of October 11, 2024 was updated to increase slightly by 100 VND/kg, fluctuating between 112,800 - 113,500 VND/kg. The Central Highlands provinces recorded an average price of 113,200 VND/kg, with the highest price in Dak Nong , Gia Lai, Dak Lak at 113,500 VND/kg.

Specifically, the coffee purchase price in Gia Lai (Chu Prong) is 113,500 VND/kg, an increase of 100 VND/kg; Pleiku and La Grai are 113,400 VND/kg. In Kon Tum and Dak Nong, the coffee price reached 113,500 VND/kg, while in Gia Nghia and Dak R'lap the price remained unchanged at 113,400 VND/kg.

In Lam Dong province, the price of green coffee beans in Bao Loc, Di Linh and Lam Ha districts remained at VND112,800/kg, unchanged from yesterday. Meanwhile, in Dak Lak , Cu M'gar district, the price of coffee was VND113,500/kg, up VND100/kg; Ea H'leo district and Buon Ho town also traded at VND113,400/kg.

This coffee season, farmers benefit from high prices, while increasing investment in coffee tree care and replanting. However, businesses need to apply the principle of “buy high, sell high” to avoid risks.

The global coffee market is forecast to grow from $132.13 billion in 2024 to $166.39 billion in 2029, driven by rising coffee consumption among young people, higher incomes, and urbanization. Vietnam has a great opportunity to increase its coffee export value, but it needs to focus on sustainable farming to maintain long-term growth.

Pepper prices turn down

On October 11, 2024, pepper prices in key regions recorded a decrease of VND 1,000/kg, trading around VND 145,000 - 147,000/kg. The highest price belonged to Dak Lak and Dak Nong provinces at VND 147,000/kg.

Specifically, pepper prices in Dak Lak decreased by VND1,000/kg to VND147,000/kg. In Chu Se (Gia Lai), pepper prices were stable at VND146,000/kg. In Dak Nong, pepper prices also decreased by VND1,000/kg to VND147,000/kg.

In the Southeast region, pepper prices continued to decrease on October 11, 2024. Specifically, in Ba Ria - Vung Tau, pepper prices are currently at 146,500 VND/kg, down 1,000 VND/kg compared to the previous day. In Binh Phuoc, pepper prices also decreased similarly, reaching 145,000 VND/kg.

Thus, pepper price on October 11, 2024 decreased by 1,000 VND/kg, ranging from 145,000 - 147,000 VND/kg, with the highest price reaching 147,000 VND/kg.

Updated from the International Pepper Community (IPC), the price of Indonesian Lampung black pepper increased by 0.33% to 6,711 USD/ton, while the price of Muntok white pepper increased by 0.32% to 8,974 USD/ton. The price of Brazilian ASTA 570 black pepper was at 6,750 USD/ton, while Malaysian ASTA black pepper was at 8,800 USD/ton, and ASTA white pepper was at 11,200 USD/ton.

Vietnam's black pepper price dropped to 6,500 USD/ton for 500 g/l, down 4.62%; 550 g/l decreased 4.41%, to 6,800 USD/ton; white pepper price decreased 3.05%, to 9,850 USD/ton.

The recent 7-day National Day holiday from October 1 to October 7 in China has impacted the import market. The Golden Week has reduced the demand for pepper imports, while the rise of the US dollar amid the conflict in the Middle East has put further pressure on global pepper prices.

The current global economic situation is unstable with high inflation, rising interest rates and geopolitical conflicts, raising concerns about a global recession. This has made pepper importers cautious, reducing purchases to avoid risks, reducing demand and pepper prices. Vietnam's major markets have imported large quantities of pepper in the past 9 months and are waiting for market developments before buying more.

It is expected that demand from China and Europe may increase by the end of the year, leading to a short-term recovery in global pepper prices.

Ganoderma (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-11-10-2024-ca-phe-tang-nhe-ho-tieu-giam-gia/20241011084748098