Agricultural product prices on October 20, 2024: Coffee and pepper both increased slightly

DNVN - Agricultural product prices on October 20, 2024 recorded a slight increase of 300 VND/kg for coffee compared to yesterday, fluctuating between 111,100 - 111,700 VND/kg. Pepper also tended to increase, increasing from 500 to 1,000 VND/kg compared to the same time yesterday.

Coffee prices increased slightly

At the end of the most recent trading session, the price of Robusta coffee in London for the November 2024 contract increased by 17 USD/ton, reaching 4,702 USD/ton; the January 2025 contract also increased by 17 USD/ton, reaching 4,615 USD/ton.

Arabica coffee for December 2024 delivery increased by 2.15 cents/lb to 257.30 cents/lb; for March 2025 delivery increased by 2.15 cents/lb to 256.00 cents/lb.

Domestic coffee prices on October 20 ranged from 111,100 to 111,700 VND/kg, a slight increase of 300 VND/kg compared to yesterday. Specifically, coffee in Di Linh, Lam Ha, Bao Loc districts ( Lam Dong ) is being purchased at 111,100 VND/kg.

In Dak Lak, coffee prices in Cu M'gar district reached VND111,500/kg, while in Ea H'leo and Buon Ho they were both VND111,400/kg. In Dak Nong , coffee prices in Gia Nghia and Dak R'lap were VND111,700/kg and VND111,600/kg, respectively.

In Gia Lai, the coffee price in Chu Prong is 111,600 VND/kg, Pleiku and La Grai remain at 111,500 VND/kg. In Kon Tum , the purchase price is 111,600 VND/kg.

Many growers said that coffee prices usually decrease at the beginning of the harvest season and then gradually increase in the middle and end of the season. However, since the beginning of 2024, prices have remained above VND100,000/kg, a record high in many years. If these prices continue, coffee growers will have a successful season.

According to the Department of Agriculture and Rural Development (DARD), the 2024-2025 crop year in Dak Nong could be severely affected by drought, especially in the Dak Mil, Cu Jut, and Krong No regions, where lack of irrigation water has reduced productivity. However, in areas with favorable conditions, coffee productivity and quality are still higher than in previous years.

To ensure a successful coffee harvest, the relevant agencies and local authorities are urging farmers to care for and protect their crops. The Ministry of Agriculture is also encouraging farmers to apply effective technical measures. Weather forecasts indicate that continuous rain will come to the Central Highlands this weekend, just as Vietnam, the world’s largest Robusta producer, begins harvesting its new crop from October 2024 to September 2025. The rain stopping at harvest time will help the harvesting process go more smoothly.

Pepper prices reversed and increased slightly

Domestic pepper prices on October 20 recorded a slight increase of VND500 to VND1,000 per kg compared to yesterday, with the current average price of about VND143,700 per kg, ranging from VND143,500 to VND144,500 per kg. The highest purchase price recorded in Dak Lak and Dak Nong was VND144,500 per kg.

Specifically, pepper prices in Dak Lak and Dak Nong both increased by VND1,000/kg compared to the same time yesterday, currently at VND144,500/kg.

In Gia Lai, pepper prices remained at VND143,000/kg, stable compared to yesterday. In Dong Nai, prices increased by VND500/kg, reaching VND143,500/kg. In Ba Ria - Vung Tau, prices also increased by VND500/kg, currently at VND143,500/kg. In Binh Phuoc, prices remained unchanged at VND143,000/kg.

In the international market, according to the International Pepper Association (IPC), at the end of the most recent trading session, the price of Indonesian Lampung black pepper reached 6,794 USD/ton, up 0.31%; the price of Muntok white pepper was 9,302 USD/ton, up 0.32%.

The price of Brazilian ASTA 570 black pepper reached 6,400 USD/ton. In Malaysia, the price of ASTA black pepper remained at 8,700 USD/ton, while white pepper reached 11,200 USD/ton.

Vietnam black pepper prices are stable today, with 500 g/l at 6,500 USD/ton and 550 g/l at 6,800 USD/ton. White pepper prices are currently at 9,500 USD/ton.

Pepper consumption in major export markets will determine the export price of Vietnamese pepper. If demand has not recovered, pepper prices are unlikely to increase.

Vietnam’s pepper output in the new crop will have a direct impact on supply and prices. If output is lower than expected, pepper prices may continue to rise.

To cope with the volatile pepper market, farmers need to closely monitor price movements and make appropriate decisions. They should harvest when prices are good, avoid harvesting when prices are low, and store pepper for sale when prices rise. At the same time, farmers are also advised to grow other crops to reduce risks and not rely too much on pepper.

Ganoderma (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-20-10-2024-ca-phe-ho-tieu-cung-tang-nhe/20241020090542479