Agricultural product prices on October 19, 2024: Coffee and pepper prices plummeted in key regions

DNVN - On October 19, 2024, agricultural product prices witnessed a sharp decline, especially coffee and pepper in key regions. Coffee prices fell sharply, an average of 2,000 VND/kg, fluctuating between 110,800 - 111,400 VND/kg. Pepper also fell sharply, trading around 143,000 - 143,500 VND/kg.

Coffee prices fall sharply

In the trading session on October 19, 2024, the price of Robusta coffee on the London floor ended at a trading level of 4,430 to 4,702 USD/ton. Specifically, the delivery period for November 2024 reached 4,702 USD/ton, an increase of 17 USD/ton; January 2025 reached 4,615 USD/ton, an increase of 17 USD/ton; March 2025 was 4,512 USD/ton, an increase of 20 USD/ton; and May 2025 was 4,430 USD/ton, an increase of 26 USD/ton.

Meanwhile, the price of Arabica coffee on the New York floor on the morning of October 19, 2024 changed positively, trading at 1.90 to 2.15 cents/lb. The December 2024 futures reached 257.30 cents/lb, up 0.84%; the March 2025 futures reached 256.00 cents/lb, up 0.85%; the May 2025 futures were 254.05 cents/lb, up 0.81%; and the July 2025 futures were 250.80 cents/lb, up 0.76%.

In Brazil, Arabica coffee prices had mixed developments on the morning of October 19, 2024. The December 2024 delivery period decreased by 0.85% to 304.50 USD/ton; March 2025 decreased by 0.63% to 306.30 USD/ton; but the May 2025 delivery period increased by 0.87% to 311.90 USD/ton; and July 2025 increased by 0.82% to 307.45 USD/ton.

In the domestic market, coffee prices on the morning of October 19, 2024 decreased sharply in key localities, with an average decrease of VND 2,000/kg, ranging from VND 110,800 to VND 111,400/kg. In the Central Highlands, the average purchase price was VND 111,300/kg, the highest in Dak Nong at VND 111,400/kg. In Gia Lai, the purchase price in Chu Prong was VND 111,300/kg, down VND 2,000/kg; Pleiku and La Grai decreased by VND 1,000/kg, to VND 111,200/kg. In Kon Tum, the price decreased by VND 2,000/kg to VND 111,300/kg, and Dak Nong also recorded a similar decrease.

The price of green coffee beans in Lam Dong , including districts such as Bao Loc, Di Linh and Lam Ha, recorded a purchase price of VND 110,800/kg, down VND 2,000/kg.

In Dak Lak , today's coffee price reached 113,200 VND/kg in Cu M'gar and 113,100 VND/kg in Ea H'leo, Buon Ho town.

Coffee trading in Vietnam remains quiet as traders await new supplies from the next crop. Although farmers have begun harvesting Arabica coffee, the current output is still not enough to meet the international market. Robusta coffee prices in the international market have slightly decreased in recent trading sessions. According to Reuters, Vietnam's coffee output in the 2024/2025 crop year could decrease by 5% to 10% compared to the previous crop, causing domestic coffee prices to remain high at the beginning of the season, especially in the Central Highlands where prices are above VND110,000/kg, nearly double that of last year.

Despite facing many challenges, the Vietnamese coffee market still has great potential for sustainable development. Enterprises need to maintain high export prices and focus on potential consumption markets.

Pepper prices fell sharply

On October 19, 2024, pepper prices in key regions recorded a sharp decrease compared to yesterday, trading around 143,000 - 143,500 VND/kg, down an average of 1,000 VND/kg.

Specifically, pepper price in Dak Lak decreased by 1,000 VND, to 143,500 VND/kg; Chu Se (Gia Lai) remained at 143,000 VND/kg; while Dak Nong decreased by 1,000 VND, to 143,500 VND/kg.

In the Southeast, pepper prices today also decreased by 1,000 VND/kg. In Ba Ria – Vung Tau and Binh Phuoc, pepper prices stopped at 143,000 VND/kg.

In the world market, according to the International Pepper Community (IPC), at the end of the most recent trading session, the price of Lampung black pepper (Indonesia) reached 6,794 USD/ton; Muntok white pepper reached 9,302 USD/ton. Brazilian ASTA 570 black pepper was traded at 6,400 USD/ton; while Malaysian ASTA black pepper remained at 8,700 USD/ton and white pepper reached 11,200 USD/ton. In Vietnam, the price of 500 g/l black pepper was 6,500 USD/ton; 550 g/l was 6,800 USD/ton; the price of white pepper reached 9,500 USD/ton.

Currently, pepper prices are higher than in previous years and are expected to continue to increase in the coming time. This encourages farmers to replant pepper, a crop once known as "black gold". Many farmers have decided to invest in new planting or expand acreage, especially in provinces with favorable conditions.

In Binh Phuoc, a province famous for its agriculture, organic pepper farming is developing strongly. Many households have changed their farming methods and achieved positive results. Although the pepper growing area in Binh Phuoc has decreased to 12,450 hectares due to many factors, including low prices and diseases, many households still persist with the organic farming model.

Since the beginning of 2024, pepper prices have increased by over VND100,000/kg, bringing joy and motivation to farmers. The transition to organic farming not only benefits growers but also meets consumer demand, opening up a sustainable development direction for the pepper industry.

Hung Le (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-19-10-2024-gia-ca-phe-va-ho-tieu-sut-giam-manh-tai-cac-vung-trong-diem/20241019083346808