Agricultural product prices on December 3, 2024: Coffee drops sharply, pepper remains stable

DNVN - On December 3, 2024, domestic coffee prices recorded a sharp decline, with a decrease of 1,700 - 2,000 VND/kg. The average purchase price in the Central Highlands provinces is currently 128,200 VND/kg. Meanwhile, pepper prices remain stable at an average of 145,600 VND/kg compared to December 2, 2024.

Coffee prices fall sharply

After the trading session on December 3, 2024, the price of Robusta coffee on the London floor decreased significantly, from 552 - 575 USD/ton, the price fluctuated between 4,663 - 5,355 USD/ton. The January 2025 term closed at 4,834 USD/ton (down 575 USD/ton), the March 2025 term reached 4,806 USD/ton (down 571 USD/ton), the May 2025 term was 4,747 USD/ton (down 563 USD/ton), and the July 2025 term stopped at 4,676 USD/ton (down 552 USD/ton).

In New York, Arabica coffee prices also fell sharply across all terms, ranging from 284.10 to 315.90 cents/lb. The March 2025 term closed at 296.05 cents/lb (down 22 cents/lb), the May 2025 term at 294.25 cents/lb (down 21.25 cents/lb), the July 2025 term at 290.40 cents/lb (down 20.45 cents/lb), and the September 2025 term at 286.10 cents/lb (down 19.70 cents/lb).

At the same time, the price of Brazilian Arabica coffee fluctuated in opposite directions, ranging from 359.80 - 372.50 USD/ton. The December 2024 term recorded 368.25 USD/ton (down 29.70 USD/ton), the March 2025 term increased slightly to 370.05 USD/ton (up 0.30 USD/ton), the May 2025 term decreased to 365.05 USD/ton (down 28.10 USD/ton), and the July 2025 term reached 359.80 USD/ton (down 27.05 USD/ton).

Domestic coffee prices in the Central Highlands also fell sharply, with a decrease of 1,700 - 2,000 VND/kg. The average purchase price in this region is currently 128,200 VND/kg.

Specifically, the purchase price in Gia Lai is at 128,000 VND/kg (down 2,000 VND/kg). Dak Nong recorded the highest purchase price of 128,500 VND/kg.

The price of green coffee beans in Lam Dong fluctuates around 127,800 VND/kg in Bao Loc, Di Linh and Lam Ha districts (down 1,700 VND/kg).

In Dak Lak , coffee in Cu M'gar district is purchased at 128,000 VND/kg; while in Ea H'leo district and Buon Ho town, the price fluctuates around 127,900 VND/kg.

With a coffee growing area accounting for 30% of the country and 33% of the Central Highlands region, Dak Lak continues to play a key role in the coffee industry. Currently, the province has about 212,000 hectares of coffee, with an estimated output of 354,000 tons for the 2024 crop year.

Despite the sharp increase in coffee prices, production in Dak Lak has been experiencing a “bad harvest but good price” situation. Climate change and El Nino have caused drought, damaging more than 18,700 hectares of coffee, of which more than 1,000 hectares have been completely lost.

According to Mr. Nguyen Hoai Duong, Director of the Department of Agriculture and Rural Development of Dak Lak, high transportation and export costs are also a factor causing difficulties. However, the province's coffee export turnover still reached 915 million USD, an increase of 168 million USD compared to the previous crop, contributing 17% of the total turnover of the country.

Dak Lak Department of Industry and Trade also stated that export products are still mainly green coffee, while the value from deep processing is still limited.

Pepper prices are stable

On December 3, 2024, domestic pepper prices were basically stable compared to the previous day, reaching an average of VND 145,600/kg.

In Gia Lai and Dong Nai, pepper prices increased by VND500/kg, reaching VND145,500/kg. Dak Lak still leads the country with a price of VND147,000/kg, followed by Dak Nong with a price of VND146,500/kg.

Binh Phuoc and Ba Ria - Vung Tau recorded pepper prices at 145,000 VND/kg and 144,000 VND/kg, respectively.

According to the International Pepper Community (IPC), global pepper prices fluctuated slightly. Lampung black pepper (Indonesia) increased by 0.78% to 6,679 USD/ton, while Muntok white pepper decreased by 0.31% to 9,115 USD/ton.

Brazilian black pepper prices remained stable at $6,150 per tonne; Malaysian black pepper fell 1.2% to $8,300 per tonne; Malaysian white pepper remained at $10,500 per tonne.

Vietnamese black pepper was stable at USD 6,200/ton for 500 g/l, and USD 6,500/ton for 550 g/l; white pepper remained unchanged at USD 9,400/ton.

Some say that the supply of pepper is tightening, pushing pepper prices into an upward cycle. The amount of goods is currently mainly in the hands of agents and large companies, increasing the possibility of price fluctuations.

It is forecasted that in the 2025 crop season, pepper output may decrease by 10% to 15%, putting pressure on supply in the first quarter of 2025 when the harvest is late in February and March.

Lan Le (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-3-12-2024-ca-phe-giam-manh-ho-tieu-duy-tri-on-dinh/20241203080550877