AsemconnectVietnam - The domestic commodity market on March 3, 2025, experienced strong fluctuations. Gold prices dropped sharply after reaching a record high. Rice prices increased, while coffee prices declined. Pepper prices remained stable. Pork prices fell significantly.

Gold Prices: Decline After Reaching Record Highs
Gold prices fell sharply after hitting a record high in February, dropping by about 2.6 million VND per tael.
• Current prices:
o SJC Gold: 88.5 million VND/tael (buy) - 90.5 million VND/tael (sell).
o Mi Hong Gold: 90.4 - 91 million VND/tael.
o Bao Tin Minh Chau: 88.8 - 90.5 million VND/tael.
• The price drop follows a period of continuous increases.
Rice Prices Increase
In the Mekong Delta, rice prices saw slight fluctuations. Raw rice prices rose, while fresh paddy prices remained stable.
Specific price increases:
o OM 380 raw rice increased by 250 VND/kg (7,800 - 8,000 VND/kg).
o OM 18 raw rice increased by 100 VND/kg (9,300 - 9,500 VND/kg).
o IR 504 and 5451 raw rice also saw price adjustments.
At local markets, retail rice prices remained stable, with premium varieties like Nàng Nhen reaching 28,000 VND/kg.
Pepper prices: stable
Domestic pepper prices are currently stable at 157,000 - 159,000 VND/kg, with Đắk Lắk and Đắk Nông recording the highest prices. Over the past week, domestic prices dropped 3,000 VND/kg but remain 10,000 VND/kg higher than last month.
China remains a major importer of Vietnamese pepper. If demand rises as Vietnam enters the main harvest season, prices may increase in the short term. However, new supply from the harvest may stabilize prices.
Đắk Nông leads the country in pepper cultivation area and is shifting towards high-tech, organic farming and eco-diverse plantations. The province has obtained geographical indication (GI) for its pepper, improving its value and market positioning. Farmers are encouraged to follow standardized farming practices, reduce pesticide use, and ensure food safety for long-term sustainability.
According to the Gia Lai Pepper Association, this year's production is down by 10-15%, with Đắk Lắk seeing the most significant decline due to competition from coffee and durian plantations. Pepper farming areas in Đồng Nai and Bình Phước have also shrunk.
Global market prices (as of last week):
• Indonesia: Black pepper (Lampung) $7,235/ton (-0.87%), White pepper (Muntok) $9,959/ton (-0.88%).
• Brazil: Black pepper ASTA 570 at $6,850/ton.
• Malaysia: Black pepper ASTA $9,700/ton, White pepper ASTA $12,200/ton.
• Vietnam:
o Black pepper 500 g/l $6,900/ton.
o Black pepper 550 g/l $7,100/ton.
o White pepper ASTA $9,900/ton.
Coffee price: dropped
In the past two weeks, coffee prices have dropped significantly as roasters have accumulated sufficient stock from previous purchases, and speculators have taken profits. While a market recovery is possible in the medium term, risks remain, especially amid global economic instability.
• Feb 27: Forecasts of declining production in Brazil continue to support prices.
• Feb 28: Domestic trading activity slowed due to falling prices.
• South Korea: A specialty coffee husk (Cascara) shipment was successfully exported.
According to Thái Như Hiệp, Chairman of Vĩnh Hiệp Co., Ltd. (Vietnam's top coffee exporter last season) and Vice Chairman of the Vietnam Coffee-Cocoa Association (VICOFA), coffee prices have become highly unpredictable. He attributes price fluctuations more to global financial speculation than actual coffee supply and demand. Climate change has also been leveraged by speculators to push prices up. Given extreme volatility, Vietnamese businesses prefer to buy and sell coffee immediately rather than stockpile inventory to minimize risks.
The Brazilian Coffee Industry Association (ABIC) predicts that global coffee prices will continue rising in the coming months. Brazil, the world's largest coffee producer and exporter (accounting for nearly 50% of global output), has struggled with extreme weather over the past four years, severely impacting crops.
In India, the United Planters' Association of Southern India (UPASI) has raised concerns about declining yields and rising costs due to climate change. Unpredictable weather—extended droughts, unseasonal rains, and increased pest outbreaks—remains a major challenge. The coffee sector is also labor-intensive, making wages a significant cost. Years of poor profitability have hampered reinvestment in plantations, further worsening land and labor productivity.
Price Trends
• Global Market:
o London & New York futures prices dropped sharply last week.
o Robusta fell $387/ton (-7%), closing at $5,330/ton.
o Arabica fell 16.2 cents/lb (-4.1%), closing at 373.05 US cents/lb.
• Domestic Market:
o Prices range between 128,000 – 130,000 VND/kg.
o Over the past week, domestic prices have dropped 4,400 – 5,300 VND/kg.
Live Pig Prices: Sudden Drop in the North
In the northern region, live pig prices dropped unexpectedly in two provinces:
o Thai Nguyen: Down to 74,000 VND/kg.
o Ha Nam: Dropped by 3,000 VND/kg to 72,000 VND/kg.
Central and Central Highlands regions saw price increases, with Ninh Thuan rising by 4,000 VND/kg to 78,000 VND/kg.
Southern Vietnam continued to have the highest prices, with Dong Nai at 81,000 VND/kg.
The increase in pig prices is attributed to African swine fever, rising feed costs, and stricter import controls.
T.Huong
Source: Vitic