Agricultural product prices on November 21, 2024: Coffee and pepper prices drop sharply

DNVN - On November 21, 2024, coffee prices recorded a decrease of about 800 VND/kg. Pepper also decreased by 700 VND/kg, fluctuating between 138,000 - 139,500 VND/kg.

Coffee prices turn down

After many fluctuating sessions, the price of Robusta coffee on the London floor at 5:00 a.m. on November 21, 2024 increased sharply again, increasing from 128 - 142 USD/ton. The January 2025 delivery period reached 4,798 USD/ton (up 142 USD/ton), the March 2025 delivery period was 4,742 USD/ton (up 133 USD/ton), the May 2025 delivery period reached 4,694 USD/ton (up 130 USD/ton), and the July 2025 delivery period was 4,634 USD/ton (up 128 USD/ton).

Arabica coffee prices on the New York floor on the morning of November 21, 2024 also increased sharply with an amplitude of 10.20 - 11.20 cents/lb, fluctuating between 274.65 - 294.30 cents/lb. Specifically, the March 2025 delivery period reached 292.50 cents/lb (up 11.20 cents/lb), the May 2025 delivery period was at 290.25 cents/lb (up 10.95 cents/lb), the July 2025 delivery period reached 286.30 cents/lb (up 10.50 cents/lb), and the September 2025 delivery period was 281.90 cents/lb (up 10.20 cents/lb).

In contrast to the London and New York exchanges, the price of Brazilian Arabica coffee decreased slightly, from 1.10 to 4.10 USD/ton. The specific levels include the December 2024 term at 359.45 USD/ton (down 2.20 USD/ton), the March 2025 term at 354.95 USD/ton (down 4.10 USD/ton), the May 2025 term at 345.30 USD/ton (down 1.10 USD/ton), and the July 2025 term recorded 340.50 USD/ton (down 1.20 USD/ton).

In the domestic market, coffee prices at 5:00 a.m. on November 21, 2024 decreased by about VND 800/kg. In the Central Highlands provinces, the average purchase price reached VND 113,500/kg.

Coffee prices in Gia Lai and Dak Nong are both at VND113,500/kg. In Lam Dong, Bao Loc, Di Linh, and Lam Ha districts recorded prices of VND113,000/kg. In Dak Lak, Cu M'gar district has a purchase price of VND113,500/kg, while Ea H'leo district and Buon Ho town fluctuate at VND113,400/kg.

In the 2023-2024 crop year, the Vietnamese coffee industry has achieved great success when exporting less than 1.5 million tons but the turnover exceeds 5 billion USD. However, the progress of domestic harvest is causing businesses to worry about coffee quality and output.

Currently, despite high prices, purchasing is difficult because farmers expect prices to increase by the end of the year. Some households also buy more coffee to stockpile, leading to a decrease in supply during harvest time.

World coffee prices are forecast to continue to fluctuate due to natural and policy influences. Farmers, businesses and consumers need to prepare for these changes.

Pepper prices drop sharply

On November 21, 2024, pepper prices in the provinces suddenly dropped sharply. In Gia Lai and Ba Ria - Vung Tau, prices decreased by 1,000 VND/kg, while in Dak Lak, Binh Phuoc , and Dak Nong, prices decreased by 500 VND/kg.

Specifically, the purchase price in Gia Lai and Ba Ria - Vung Tau both reached 138,000 VND/kg, Binh Phuoc was higher at 138,500 VND/kg, while Dak Lak and Dak Nong both recorded 139,500 VND/kg.

The average price today ranges from 138,000 - 139,500 VND/kg, down about 700 VND/kg compared to the previous day.

On November 20, 2024, the pepper purchasing market was quite stable, only Dak Lak increased slightly by 500 VND/kg to 140,000 VND/kg, equal to Dak Nong. Other areas such as Gia Lai, Ba Ria - Vung Tau and Binh Phuoc kept the same price of 139,000 VND/kg.

In the international market, the price of Indonesian Lampung black pepper reached 6,470 USD/ton, Muntok white pepper was at 9,055 USD/ton. The price of Brazilian ASTA 570 black pepper reached 6,000 USD/ton, while Malaysia recorded black pepper price at 8,400 USD/ton and white pepper at 10,500 USD/ton.

Vietnam's black pepper prices remained stable at USD 6,200/ton (500 g/l) and USD 6,500/ton (550 g/l). Vietnam's white pepper prices remained at USD 9,400/ton.

In the first half of November, Vietnam exported 8,082 tons of pepper, worth 55.4 million USD, down 10.6% in volume and 5% in value compared to the first half of October. The US was the largest export market, accounting for 29.2% with 2,362 tons.

Since the beginning of 2024, Vietnam has exported 234,824 tons of pepper with a turnover of 1.17 billion USD, down 3.1% in volume but up 47.3% in value. The average export price increased sharply by 52.1%, reaching 5,129 USD/ton.

Vietnam’s pepper industry is expected to benefit from the start of 2025 as demand from China surges. Global supplies are forecast to be tight until February 2025, opening up a huge opportunity for Vietnam.

Lan Le (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-21-11-2024-ca-phe-va-ho-tieu-giam-gia-manh/20241121082944552