Agricultural Commodity Prices on August 8th: Pepper Prices Continue to Plunge, Coffee Prices Rebound

As of August 8th, coffee prices experienced a slight uptick, while pepper prices have been on a downward trend for the past three days. However, experts anticipate a potential price increase for pepper due to concerns over supply shortages. Vietnam’s agricultural export is also projected to witness significant growth by the end of the year.

Pepper Prices Today

Stay updated with the latest Vietnamese and international pepper prices with VietGlobal Export

Pepper prices on August 8 domestically

According to surveys and information gathered from various farms and businesses, pepper prices in key growing regions such as the Central Highlands and Southeast of Vietnam continued to face downward pressure, decreasing by 1,000 to 4,000 VND/kg compared to the previous few days. This has driven down the average domestic pepper price, which currently fluctuates around 136,000 to 140,000 VND/kg, significantly lower than the peak of over 200,000 VND/kg in early June.

The Vietnam Pepper Association (VPSA) reported that major customers like the US, Europe, and India have been increasing their pepper purchases from Vietnam over the past few months, while China’s demand has decreased significantly. This is believed to have contributed to the substantial decline in Vietnamese pepper prices recently.

Regarding this matter, Ms. Hoang Thi Lien, Chairperson of VPSA, stated that although Indonesia and Brazil will enter their harvest season soon, followed by Vietnam, pepper prices are unlikely to decrease further since global supply is still insufficient to meet demand.

Pepper prices on August 8 globally

Meanwhile, pepper prices on the export market have remained stable. According to the latest data from the International Pepper Association (IPC), the closing price of Indonesian black pepper Lampung was 7,211 USD/ton, up 0.49%, and white pepper Muntok reached 8,836 USD/ton, up 0.49%.

Brazilian black pepper ASTA 570 was priced at 6,400 USD/ton, down 5.47%. Malaysian black pepper ASTA remained stable at 8,500 USD/ton, and white pepper ASTA was at 10,400 USD/ton.

Vietnamese black pepper maintained high prices, trading at 6,000 USD/ton for the 500 g/l type, 6,600 USD/ton for the 550 g/l type, and white pepper at 8,800 USD/ton.

Decreased pepper production from Brazil and Vietnam, the world’s two leading pepper-producing countries, has driven global pepper prices to record highs in the early months of this year, especially with unprecedented market fluctuations in the past two years.

Accordingly, the export prices of black pepper from Indonesia and Brazil increased by 93.1% and 2.3 times, respectively, from the beginning of the second quarter to mid-June, while Vietnam also recorded an increase of 70 to 83% during the same period. In the following weeks, the market adjusted downward and stabilized somewhat but still fluctuated at the highest level in about 8 years.

Coffee Prices Rebound Today

At the end of the trading session, Robusta coffee prices on the London market on August 8th, 2024, at 5 AM, increased to the range of 3,986 – 4,481 USD/ton. Specifically, the September 2024 contract was at 4,481 USD/ton (up 98 USD/ton); the November 2024 contract was at 4,286 USD/ton (up 96 USD/ton); the January 2025 contract was at 4,131 USD/ton (up 95 USD/ton); and the March 2025 contract was at 3,986 USD/ton (up 83 USD/ton).

Arabica coffee prices on the New York market on the morning of August 8, 2024, increased from 236.00 to 246.30 cents/lb. Specifically, the September 2024 contract was 246.30 cents/lb (up 4.39%); the December 2024 contract was 242.00 cents/lb (up 3.88%); the March 2025 contract was 238.70 cents/lb (up 3.45%); and the May 2025 contract was 236.00 cents/lb, up 3.37%.

Arabica coffee prices from Brazil on the morning of August 8, 2024, showed mixed movements. Specifically, the September 2024 contract was 300.50 USD/ton, down 0.33%; the December 2024 contract was 293.00 USD/ton (down 0.83%); the March 2025 contract was 292.70 USD/ton, up 3.72%; and the May 2025 contract was 288.00 USD/ton (up 3.67%).

Want to stay updated on the latest agricultural commodity prices in Vietnam?

Follow VietGlobal Export for the most accurate and up-to-date market insights. Our team of experts provides detailed analysis and real-time data on various agricultural products, helping you make informed decisions.

Don’t miss out!

Subscribe to our newsletter

Follow us on social media:

Leave a Reply