Agricultural product prices on December 27, 2024: Pepper and coffee prices surge.

DNVN - Today's agricultural product prices, December 27, 2024, show that coffee increased by 800 VND/kg compared to yesterday, while pepper increased sharply by 1,000 - 2,000 VND/kg.

Coffee prices continue to rise.

At 5:00 AM on December 27, 2024, Robusta coffee prices on the London exchange remained stable compared to the previous session, fluctuating between US$4,754 and US$5,041 per ton. Accordingly, the March 2025 contract reached US$5,041 per ton; the May 2025 contract was at US$4,953 per ton; the July 2025 contract was at US$4,858 per ton; and the September 2025 contract was at US$4,754 per ton.

Conversely, Arabica coffee prices on the New York exchange fell slightly by 2.25 – 3.95 cents/lb, fluctuating between 305.20 – 324.65 cents/lb. Specifically, the March 2025 contract fell to 324.65 cents/lb; the May 2025 contract to 319.70 cents/lb; the July 2025 contract reached 313.35 cents/lb; and the September 2025 contract decreased to 305.20 cents/lb.

For Brazilian Arabica coffee, prices decreased slightly by $0.65 – $5.30/ton, fluctuating between $374.70 – $403.70/ton. Specifically, the March 2025 contract fell to $403.70/ton; the May 2025 contract was at $396.15/ton; the July 2025 contract reached $390.10/ton, and the September 2025 contract slightly decreased to $374.70/ton.

Domestically, coffee prices at 5 AM this morning increased by 800 VND/kg, reaching 121,500 VND/kg. In the Central Highlands, the highest price was recorded in Dak Nong at 121,700 VND/kg, an increase of 700 VND/kg. Dak Lak, Lam Dong, and Gia Lai provinces all increased by 800 VND/kg, reaching 121,500 VND/kg, 121,000 VND/kg, and 121,400 VND/kg respectively.

According to Mr. Duong Van Dung, a coffee dealer in Dak Lak , current purchasing volume is only about 100 tons per day, half the amount compared to last year. Meanwhile, Mr. Tran Van Ban, a farmer in Krong Pak, said that with a harvest of nearly 10 tons, he expects to earn nearly 1 billion VND but has decided to hold back most of his yield to wait for better prices.

Pepper prices are rising again.

Today, December 27, 2024, pepper prices have increased significantly after several stable sessions, with an increase ranging from 1,000 to 2,000 VND/kg. The average purchase price currently stands at 145,800 VND/kg.

In Gia Lai, pepper prices increased by 1,000 VND/kg, reaching 145,000 VND/kg. Other localities such as Dak Lak, Dak Nong, and Ba Ria - Vung Tau all saw increases to 146,000 VND/kg. Notably, Binh Phuoc recorded the sharpest increase, reaching 146,000 VND/kg after a 2,000 VND/kg increase.

On the world market, according to updates from IPC at 5:00 AM on December 27, 2024, the price of Lampung black pepper from Indonesia reached US$6,835/ton; the price of Muntok white pepper reached US$8,945/ton. In Brazil, the price of ASTA 570 black pepper remained stable at US$6,275/ton, while Malaysia maintained the price of ASTA black pepper at US$8,400/ton and ASTA white pepper at US$10,600/ton.

Vietnam's export price for pepper is currently $6,400/ton for the 500 g/l variety and $6,700/ton for the 550 g/l variety; white pepper is priced at $9,600/ton.

According to forecasts, global pepper prices will enter an upward trend in early 2025 due to reduced supply and rising transportation costs.

The Ministry of Industry and Trade stated that demand for pepper is recovering, especially in China, while exports from Vietnam have decreased, contributing to price increases. As of December 15th, Vietnam's pepper exports reached nearly 242,000 tons, generating $1.26 billion, far exceeding the 2023 figure in value, despite a slight decrease in volume.

Experts predict that pepper stocks held by farmers have been depleted, with only remaining in the warehouses of businesses and distributors. Over the next 3-5 years, global pepper production is expected to continue to fall short of demand, leading to a new price increase cycle.

Many farmers say that instead of planting new crops on a massive scale, they are focusing on improving quality and productivity through organic farming.

Lan Le (compiled)

Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-27-12-2024-ho-tieu-va-ca-phe-tang-manh/20241227082121450