DNVN - On December 15, 2024, the average price of coffee reached VND 125,100/kg, a significant increase of VND 1,000/kg compared to the previous day. Meanwhile, the price of pepper increased by VND 200 to VND 1,000/kg depending on the region, bringing the average price to VND 145,800/kg.
Coffee prices continue to rise
On the London exchange, the price of Robusta coffee on December 15, 2024, remained at a range of 5046 - 5209 USD/ton compared to yesterday. Specifically, the January 2025 term was 5209 USD/ton; March 2025 was 5184 USD/ton; May 2025 was 5126 USD/ton and July 2025 stopped at 5046 USD/ton.
On the New York floor, Arabica coffee prices also fluctuated from 304.85 to 319.50 cents/lb on the same day, unchanged from the previous session. The March 2025 contract reached 319.50 cents/lb; May 2025 was at 317.05 cents/lb; July 2025 was 312.45 cents/lb and September 2025 was at 304.85 cents/lb.
Brazilian Arabica coffee prices remained stable across most maturities this morning, except for the December 2024 contract, which saw a slight decrease to $396.90/ton (down $2.30/ton). Other maturities such as March 2025 were at $408.70/ton; May 2025 at $395.15/ton; and July 2025 at $388.95/ton.
Contrary to global coffee price trends, domestic coffee prices on December 15, 2024 averaged 125,100 VND/kg, an increase of 1,000 VND/kg compared to the previous day.
In the key regions of the Central Highlands, the highest purchase price was recorded at 125,200 VND/kg. Coffee prices in Dak Lak increased to 125,000 VND/kg, 1,000 VND higher than yesterday. In Lam Dong, the price reached 123,500 VND/kg, an increase of 800 VND. In Gia Lai, the transaction price today reached 125,000 VND/kg, an increase of 1,000 VND. In Dak Nong , the price reached the highest level of 125,200 VND/kg, also an increase of 1,000 VND.
According to experts, domestic coffee prices have reached the expected mark of 125,000 VND/kg, with the highest level in Dak Nong reaching 125,200 VND/kg.
A director of a coffee purchasing company in Gia Lai said, "From the beginning of the 2024-2025 season, he predicted that coffee prices would fall to around 3,000-4,000 USD/ton during the main harvest season, but in reality, the price only dropped for a few trading sessions and reached a record high even at the start of the season." This forced him to buy at high prices to fulfill signed orders, accepting to sell at low prices and incurring losses.
Sharing the same view, a member of the Vietnam Coffee and Cocoa Association (VICOFA) said, “some coffee purchasing enterprises suffered heavy losses because they failed to predict the price trend correctly. Sales contracts were signed but they could not buy goods from farmers, so they were forced to raise prices to buy in advance, avoiding having to pay compensation for the contract and losing reputation with partners.”
VICOFA also recommends that businesses should consider carefully and avoid long-term transactions. In case of strong price fluctuations, the parties need to cooperate to share the losses to avoid causing heavy losses to one side.
Pepper prices are rising again.
On the morning of December 15, 2024, domestic pepper prices continued to increase sharply, increasing from 200 to 1,000 VND/kg compared to the previous day. The current average price in localities is 145,800 VND/kg.
In Gia Lai, the price of pepper reached 145,000 VND/kg, an increase of 1,000 VND. In Binh Phuoc and Ba Ria - Vung Tau, the price also increased by 1,000 VND, reaching 146,000 VND/kg. Meanwhile, in Dak Lak, the price remained stable at 146,000 VND/kg, while in Dak Nong it increased slightly by 200 VND to 146,200 VND/kg.
According to the International Pepper Association (IPC), world pepper prices updated at 4:30 AM on December 15, 2024, showed little fluctuation. Specifically, Lampung black pepper (Indonesia) reached US$6,787/ton, and Muntok white pepper was US$9,068/ton. In Brazil, ASTA 570 black pepper recorded US$6,300/ton, while Malaysian ASTA black and white pepper were US$8,200/ton and US$10,400/ton respectively.
For exports, the price of Vietnamese black pepper (500 g/l) remained at US$6,300/ton; and (550 g/l) at US$6,600/ton. The price of white pepper remained stable at US$9,400/ton.
According to experts, pepper prices are entering an upward cycle due to reduced supply. Increased consumption demand during the year-end holidays along with information about reduced exports in Vietnam also support the market's upward momentum. In addition, high transportation costs and a depreciating USD also contribute to the increase in pepper prices.
Experts advise farmers to focus on improving quality and productivity rather than expanding acreage, ensuring the sustainable development of the industry. Export businesses should take advantage of the current high prices to expand their markets, especially in the US and EU, where demand for pepper continues to grow strongly.
Lan Le (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-15-12-2024-ca-phe-tang-manh-tiep-tuc-lap-dinh/20241215092422894
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