Agricultural product prices on October 21, 2024: Pepper and coffee move sideways

DNVN - Agricultural product prices on October 21, 2024 recorded coffee prices remaining stable after a slight decrease last week, while pepper prices today in some key growing areas also remained the same compared to yesterday.

Coffee prices are stable

At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery increased by 17 USD/ton, reaching 4,702 USD/ton. The price for January 2025 delivery also increased by 17 USD/ton, reaching 4,615 USD/ton. The price of Arabica coffee for December 2024 delivery increased by 2.15 cents/lb, reaching 257.30 cents/lb. The price for March 2025 delivery increased by 2.15 cents/lb, reaching 256.00 cents/lb.

A survey on the morning of October 21 showed that in major production areas, coffee prices remained stable after a slight decrease last week. In Lam Dong, coffee prices in Di Linh, Lam Ha and Bao Loc remained at VND111,100/kg. In Dak Lak , localities such as Cu M'gar, Ea H'leo and Buon Ho had prices ranging from VND111,400 to VND111,500/kg. Dak Nong recorded the highest price in Gia Nghia at VND111,700/kg and VND111,600/kg in Dak R'lap. In Gia Lai and Kon Tum, prices ranged from VND111,500 to VND111,600/kg.

Coffee prices fell sharply last week as supply is no longer as scarce as before. A report from the International Coffee Organization (ICO) said that the 2023-2024 crop year is expected to reach 178 million bags (60 kg each), up 5.8% compared to the previous crop year. Of which, Arabica coffee output increased by 8.8% and Robusta increased by 2.1%, helping to stabilize global supply. However, Vietnam is the only country to experience a crop failure with a decrease of more than 10%. Next crop year, Vietnam's coffee output is forecast to continue to decrease due to drought and shrinking planting areas as farmers switch to other economic crops.

Vietnam begins harvesting coffee in October, peaking in November and December, and in some regions extending into January of the following year. Supply from Vietnam has also contributed to the recent decline in coffee prices.

Pepper prices remain stable

Pepper prices today in key growing areas are stable compared to yesterday, remaining at 143,000 VND/kg to 144,500 VND/kg. In the Central Highlands, pepper prices in Dak Lak remained unchanged at 144,500 VND/kg. In Gia Lai, pepper prices remained unchanged at 143,000 VND/kg. Dak Nong also recorded unchanged pepper prices at 144,500 VND/kg.

In the Southeast region, pepper prices in Ba Ria - Vung Tau remained unchanged at VND143,500/kg. Similarly, Dong Nai also maintained the price at VND143,500/kg. Binh Phuoc also had no change, remaining at VND143,000/kg.

In the international market, according to the International Pepper Community (IPC), the price of Indonesian Lampung black pepper increased by 0.31% compared to yesterday, reaching 6,794 USD/ton. The price of Muntok white pepper of this country also increased by 0.32%, reaching 9,302 USD/ton. The price of Brazilian ASTA 570 black pepper remained unchanged, remaining at 6,400 USD/ton. Malaysian ASTA black pepper and ASTA white pepper remained unchanged, at 8,900 USD/ton and 11,200 USD/ton, respectively.

Vietnam's pepper prices also remained unchanged. Black pepper of 500 gr/l remained at 6,500 USD/ton, 550 gr/l reached 6,800 USD/ton. Vietnam's white pepper price remained at 9,500 USD/ton.

Pepper prices in the Central Highlands increased slightly by VND500/kg last week, while the Southeast provinces recorded a decrease. Although the fluctuations were not large, the pepper market has not yet stabilized completely. The amount of pepper stored in warehouses of businesses and traders is currently lower than in previous years, forcing them to stockpile to cope with the possibility of a delayed harvest next year. Farmers also expect pepper prices to continue to increase.

However, competition from new supplies from Indonesia and China’s increased purchases of pepper from this country are holding back the recovery of the Vietnamese pepper market. Major markets such as Europe and the United States have yet to show signs of increased demand, making pepper export prices difficult. If pepper prices fall below VND140,000/kg, a sell-off may occur, but current reserves are still sufficient to reduce the risk of a sharp price drop.

Ganoderma (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-21-10-2024-ho-tieu-va-ca-phe-cung-di-ngang/20241021080102441