On November 29, the price of Robusta coffee on the London floor for January 2025 delivery jumped to $5,565/ton. This price is $38 higher than the previous record, recorded on September 26 at $5,527/ton.

Meanwhile, the price of Arabica coffee on the New York floor for delivery in March 2024 also increased to 323.05 cents/lb - the highest since 1977.

In the long-term, the price of this commodity also recorded "crazy" fluctuations. This shows that the world's coffee investors are predicting a future scarcity of this bitter bean. And with this global price fever, many experts believe that coffee is about to become a luxury drink.

In the domestic market, the price of green coffee beans has also increased continuously. By the morning of November 29, this type of bean had jumped to 131,200 VND/kg - about to reach the historical peak of 134,000 VND/kg recorded at the end of April this year.

It is worth mentioning that the Central Highlands coffee capital is entering the harvest season. Normally, coffee prices would cool down at this time due to abundant supply. However, this year, both fresh coffee and coffee bean prices have increased sharply.

“Compared to the same period last year, coffee prices have doubled,” Nguyen Van Hoan, a coffee farmer in Dak Lak, told VietNamNet . He said that last year, fresh coffee prices were only VND17,000/kg, while green coffee was less than VND60,000/kg.

Today, farmers who pick fresh coffee have earned over 30,000 VND/kg, higher than the price of green coffee in 2020. If they sell beans, the price has increased to over 130,000 VND/kg.

"At this price, whether selling fresh coffee or green coffee, farmers make a big profit," he shared.

Mr. Hoan’s family has 5 hectares of coffee and is harvesting ripe fruit for drying. Although this year’s output has decreased compared to last year due to unfavorable weather, it is estimated that he will still earn nearly 20 tons of beans. If he sells everything at the current price, he can earn 2.6 billion VND, minus expenses, making a profit of about 1.7 billion VND.

According to him, many farmers are still “hoarding” their products and are not in a hurry to sell them. As for his family, the harvest was relatively good so they sold a portion to prevent the risk of prices peaking and then plummeting like in April and May this year.

Mr. Nguyen Van Tao in Dak Mil ( Dak Nong ) also said that coffee prices continue to increase. With an output of about 27 tons of coffee beans harvested this crop, he estimates to earn about 3.5 billion VND, of which the profit is about 2 billion.

In our country, coffee productivity is estimated at 3-5 tons of beans/ha depending on the type and region. The cost of coffee production is about 40,000 VND/kg. Mr. Nguyen Nam Hai, Chairman of the Vietnam Coffee and Cocoa Association (VICOFA), calculated that the price of coffee beans increased to 125,000-130,000 VND/kg, farmers would earn about 85,000-90,000 VND/kg.

If the average yield is 4 tons of beans/ha, farmers can earn billions by planting just 3ha of coffee.

W-ca phe.png
Many farmers can earn billions thanks to the continuous increase in coffee prices. Photo: Nguyen Hue

Roasters around the world say that in today's popular roasting formula, the blending ratio of Robusta coffee has increased to 30-40%, instead of the previous ratio of only 20-30%.

This shows that Vietnam - the world's leading producer and exporter of Robusta - plays an important role in this price fever. However, this year, adverse weather with prolonged heavy rains has delayed the harvest and reduced the quality of coffee.

According to preliminary statistics from the General Department of Customs, as of November 15, Vietnam had exported over 1.17 million tons of coffee, earning nearly 4.7 billion USD - a record high. Notably, in the first 10 months of 2024, coffee exports to key markets all increased sharply. In particular, many countries such as Spain, the Philippines, Indonesia, the Netherlands... spent double the money to buy this type of bean from our country.

Mr. Trinh Duc Minh - Chairman of Buon Ma Thuot Coffee Association, said that this year's coffee output decreased not only due to the weather but also because farmers switched to intercropping other crops such as durian to meet the increased demand from China. Therefore, the supply of coffee in our country for export has been tightened, pushing up global coffee prices.

VICOFA leaders also acknowledged that Vietnamese farmers are playing an important role in maintaining high coffee prices thanks to their financial autonomy and ability to preserve coffee for a long time (can be stored for 1-2 years).

However, he also warned that the price of Vietnamese Robusta is too high, causing importers to complain. In the short term, they still need Vietnamese Robusta, because consumers are familiar with the taste. But if the high price persists, importers may change the formula, affecting exports.

He believes that a price of about 100,000 VND/kg will harmonize the interests of all parties and help Vietnamese coffee develop sustainably.

Vietnamese coffee wins big, waiting for historic decision from $48 billion market

Vietnamese coffee wins big, waiting for historic decision from $48 billion market

Vietnamese coffee has had an unprecedentedly successful export season, with many historical records set. This strength of our country is awaiting a historic decision from the EU market with a scale of nearly 48 billion USD.
Good news in abundance: Rice and coffee exports race to set records, fruits and vegetables earn 6.34 billion USD

Good news in abundance: Rice and coffee exports race to set records, fruits and vegetables earn 6.34 billion USD

The agricultural sector is receiving good news as rice and coffee exports simultaneously set historic records, while fruit and vegetable exports also reaped a bumper 6.34 billion USD in just 10 months of this year.
'Owner' of Katinat coffee chain sells shares, earns hundreds of billions

'Owner' of Katinat coffee chain sells shares, earns hundreds of billions

Ms. Truong Nguyen Thien Kim, the person behind the Katinat coffee chain, has just sold all 13.2 million shares of Vietcap Securities (VCI), where her husband is a leader.