DNVN – On November 22, 2024, agricultural product prices recorded significant growth in two key commodities: coffee and pepper. Coffee prices increased again from 1,700 - 1,800 VND/kg, while pepper prices increased by 1,100 VND/kg compared to November 21.
Coffee price developments
Trading session closed with Robusta coffee price on the floor
London morning 11/22/2024 slightly decreased from 10 - 18 USD/ton, fluctuating around 4,600
– 4,856 USD/ton. Of which, the January 2025 term reached 4,787 USD/ton (down 11 USD/ton),
March 2025 delivery decreased by 10 USD/ton to 4,732 USD/ton. May 2025 delivery and
7/2025 recorded a decrease of 16 USD and 18 USD/ton, reaching 4,678 USD/ton and
4,616 USD/ton.
In contrast, the New York floor continued to record momentum the same morning.
Arabica coffee prices increased, ranging from 0.45 - 2.25 cents/lb, with prices in the range of
279.95 – 297.50 cents/lb. March 2025 futures reached 294.75 cents/lb (up 2.25
cents/lb), May 2025 delivery is 292.40 cents/lb (up 2.15 cents/lb). Delivery dates
July 2025 and September 2025 increased to 287.45 cents/lb and 282.35 cents/lb, respectively.
On the morning of November 22, 2024, the price of Brazilian Arabica coffee recorded an increase.
strong from 1.45 - 18.30 USD/ton depending on the term. The December 2024 futures price increased
373.10 USD/ton (plus 13.65 USD/ton), March 2025 term reaches 370.00 USD/ton
(up 1.45 USD/ton). The terms of May 2025 and July 2025 reached 363.60 USD/ton, respectively.
USD/ton (up 18.30 USD/ton) and 357.35 USD/ton (up 16.85 USD/ton).
In the domestic market, coffee prices increased sharply on the morning of November 22, 2024.
fluctuates from 1,700 - 1,800 VND/kg. The average purchase price in the Central Highlands is currently at
115,300 VND/kg, of which Gia Lai recorded 115,200 VND/kg, while Dak Lak and Dak
Agriculture reached the highest level of 115,300 VND/kg.
In Lam Dong province alone, the price of green coffee fluctuates at 114,800 VND.
VND/kg in Bao Loc, Di Linh and Lam Ha districts. Dak Lak also recorded the highest revenue.
bought at 115,300 VND/kg in Cu M'gar, while Ea H'leo and Buon Ho reached 115,200 VND/kg.
Currently, the Central Highlands provinces are in the main harvest season, prices
The increase has encouraged people to invest in caring for and protecting their coffee from theft.
pick.
Experts say Robusta supply from Vietnam and
Brazil will see a significant drop due to the impact of dry weather, pushing up demand and coffee prices.
Global Arabica coffee production increased.
According to Safras & Mercado, Brazilian farmers have sold
about 70% of the estimated 66.04 million bags of coffee produced in the current crop year, exceeding
an average of 67% over the past five years. Meanwhile, dealers in Brazil remain worried.
Concerns about drought at the beginning of the year, affecting the upcoming crop.
World coffee prices are forecast to continue to fluctuate, requiring
Stakeholders from farmers to businesses are well prepared for the changes
complicated.
Pepper prices increase
On November 22, 2024, domestic pepper prices recorded an increase
series in many provinces and cities. In Gia Lai, Ba Ria - Vung Tau and Binh Phuoc, the price
Pepper increased by 1,500 VND/kg, while Dak Nong increased by 700 VND/kg and Dak Lak
slightly increased by 500 VND/kg.
Specifically, Gia Lai and Ba Ria - Vung Tau areas recorded the level of
purchase price 139,500 VND/kg, similar to Binh Phuoc and Dak Lak reaching 140,000 VND/kg. Dak
Nong is the locality with the highest price, reaching 140,200 VND/kg.
The average domestic pepper price on November 22, 2024 fluctuates from
139,500 - 140,200 VND/kg, an increase of 1,100 VND/kg compared to November 21.
In the world market, pepper prices recorded stability according to
report from the International Pepper Community (IPC). Indonesian Lampung black pepper maintains a
6,470 USD/ton, Muntok white pepper reached 9,055 USD/ton. ASTA 570 black pepper of
Brazil and Malaysia's ASTA black pepper reached USD 6,000/ton and USD 8,400/ton respectively.
Malaysian white pepper reached the highest level at 10,500 USD/ton.
Vietnam pepper prices are stable with black pepper 500 g/l at
6,200 USD/ton, 550 g/l grade remains at 6,500 USD/ton, while white pepper remains
price 9,400 USD/ton.
The fact that pepper prices have increased again after a series of gloomy days is considered a good sign.
Positive signal, bringing hope to the domestic pepper industry.
Previously, in the period 2014-2015, pepper was called
is "black gold" when the price peaked at 250,000 VND/kg, causing many farmers
rush to switch to this crop. The result is an increase in the use of fertilizers.
chemical fertilizers and pesticides, affecting the sustainable care process
steady
After a decade, the pepper industry has recorded progress.
positive when people focus on applying organic measures to increase productivity
instead of expanding new planting areas.
By early 2025, Vietnam's pepper industry is expected to be favorable.
more profitable in exports thanks to strong demand from China. Besides, the source
Global supply is likely to be tight until February 2025 due to the harvest in
Indonesia has completed, creating a great opportunity for Vietnamese pepper to enter the new season.
Lan Le (t/h)
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