Agricultural product prices on December 6, 2024: Coffee and pepper both increased sharply again

DNVN - On December 6, 2024, coffee prices recorded a significant increase compared to the previous trading session, reaching an additional 6,300 VND/kg. Domestic pepper also unexpectedly increased compared to December 5, 2024, with an average price of 143,400 VND/kg.

Coffee prices continue to rise

In the trading session that just ended, the price of Robusta coffee on the London floor at 5:00 a.m. on December 6, 2024 showed a remarkable increase from 122 - 129 USD/ton, fluctuating between 4,651 - 4,907 USD/ton. Specifically, the January 2025 term reached 4,895 USD/ton (up 125 USD/ton); March 2025 reached 4,873 USD/ton (up 122 USD/ton); May 2025 decreased to 4,827 USD/ton (down 125 USD/ton), and July 2025 increased to 4,767 USD/ton (up 129 USD/ton).

Similarly, the price of Arabica coffee on the New York floor also increased in the morning of the same day, the increase ranged from 8.90 - 9.80 cents/lb, in the range of 291.95 - 315.65 cents/lb. The March 2025 term reached 313.50 cents/lb (up 9.80 cents/lb); May 2025 reached 311.30 cents/lb (up 9.55 cents/lb); July 2025 reached 306.55 cents/lb (up 9.30 cents/lb) and September 2025 reached 301.10 cents/lb (up 8.90 cents/lb).

In the Brazilian market, Arabica coffee prices also increased sharply, ranging from 4.20 - 12.95 USD/ton, depending on the delivery period. Specifically, the December 2024 term reached 390.10 USD/ton (up 12.95 USD/ton); March 2025 reached 398.00 USD/ton (up 4.20 USD/ton); May 2025 reached 387.60 USD/ton (up 12.65 USD/ton), and July 2025 reached 381.15 USD/ton (up 12.30 USD/ton).

Domestic coffee prices at 5:00 a.m. on December 6, 2024 increased significantly, averaging VND 114,500/kg, about VND 6,300/kg higher than the previous day. In Gia Lai, the purchase price was VND 114,300/kg; Dak Nong recorded VND 114,700/kg; while Dak Lak maintained the highest price of VND 114,500/kg.

In Lam Dong, green coffee beans were purchased at 114,500 VND/kg in Bao Loc, Di Linh and Lam Ha districts. In Cu M'gar district, Dak Lak , the price was 114,500 VND/kg; Ea H'leo and Buon Ho town reached 114,300 VND/kg.

Coffee price increase momentum

The recent sharp increase in coffee prices has been driven by the shift in cash flows in the financial markets since Donald Trump was elected US President in 2024. The market has shifted from gold and precious metals to higher-yielding investment channels such as coffee and cocoa.

Concerns about supply shortages have also contributed to expectations of higher coffee prices, prompting speculators to buy aggressively. MXV believes that the speculative nature of the coffee derivatives market has had a major impact on price trends over the past month.

In addition to speculation, the supply shortage from early 2024 is still the main reason driving the price increase. However, MXV Deputy General Director Nguyen Ngoc Quynh predicts that coffee prices will be under strong downward pressure when returning to the supply-demand balance, especially when the new crop supply in Vietnam is gradually released to the market.

Pepper prices skyrocket

On December 6, 2024, domestic pepper prices suddenly increased, averaging 143,400 VND/kg, a sharp increase compared to December 5, 2024. In Ba Ria - Vung Tau, prices increased by 2,000 VND/kg, while other localities such as Gia Lai, Dak Lak, Binh Phuoc and Dak Nong simultaneously increased by 3,000 VND/kg.

Specifically, pepper prices in Gia Lai, Ba Ria - Vung Tau and Binh Phuoc reached 143,000 VND/kg; Dak Lak and Dak Nong were higher, at 144,000 VND/kg. According to IPC, the international pepper market fluctuated slightly, with the price of Indonesian Lampung black pepper reaching 6,684 USD/ton (up 0.4%), the price of Muntok white pepper was 9,123 USD/ton (up 0.41%). Meanwhile, the price of Brazilian black pepper was stable at 6,225 USD/ton; the price of Malaysian white pepper decreased slightly to 10,400 USD/ton.

Pepper market outlook

Tight supply is pushing the pepper industry into a price increase cycle, with stocks concentrated in the hands of large dealers. The 2025 harvest is forecast to be delayed by 1.5 to 2 months due to climate change, starting in February 2025, causing increased supply pressure while demand remains high.

Farmers are advised to balance their finances, avoid selling pepper early or borrowing money to store goods, to limit risks from price fluctuations. In Dak Nong, many households have switched to organic farming models, contributing to environmental protection and improving product quality.

These improvements not only aim at the Net-Zero goal but also create momentum to enhance the value of Vietnamese pepper brand in the international market. This is a sustainable development strategy, combining environmental protection and long-term economic development.

Lan Le (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-nong-san-ngay-6-12-2024-ca-phe-va-ho-tieu-dong-loat-tang-manh-tro-lai/20241206081353144