Experts predict coffee prices will rise sharply.

Domestic and international coffee prices rose sharply on December 7th.

Today's coffee prices on December 7, 2024, at 4:30 AM on the world market, are updated on the Vietnam Commodity Exchange (MXV) (world coffee prices are continuously updated by MXV, matching those of exchanges worldwide; it is the only channel in Vietnam that continuously updates prices linked to exchanges around the world). Today's online coffee prices from the three main futures exchanges, ICE Futures Europe, ICE Futures US, and B3 Brazil, are continuously updated by Y5 Cafe throughout the trading hours of the exchanges, as follows:

At the close of trading, Robusta coffee prices on the London exchange at 4:30 AM on December 7, 2024, continued to rise sharply, increasing by 233-258 USD/ton, fluctuating between 4,779 and 5,193 USD/ton. Specifically, the January 2025 delivery contract was 5,153 USD/ton (up 258 USD/ton); the March 2025 delivery contract was 5,116 USD/ton (up 243 USD/ton); the May 2025 delivery contract was 5,065 USD/ton (up 238 USD/ton); and the July 2025 delivery contract was 5,000 USD/ton (up 233 USD/ton).

Domestic coffee prices rose sharply on December 7, 2024. Photo: Hoang Thien Nga.

Similar to the London exchange, Arabica coffee prices on the New York exchange also increased sharply on the morning of December 7, 2024, rising by 13.05 – 16.75 cents/lb, fluctuating between 300.70 – 331.70 cents/lb. Specifically, the March 2025 delivery contract was 330.25 cents/lb (up 16.75 cents/lb); the May 2025 delivery contract was 327.60 cents/lb (up 16.30 cents/lb); the July 2025 delivery contract was 321.95 cents/lb (up 15.40 cents/lb); and the September 2025 delivery contract was 314.15 cents/lb (up 13.05 cents/lb).

At the close of trading on the morning of December 7, 2024, Brazilian Arabica coffee prices were predominantly green, rising sharply by $14.90 – $21.55 per ton depending on the delivery period. Specifically, the December 2024 delivery contract was $405.00 per ton (up $14.95 per ton); the March 2025 contract was $408.95 per ton (down $0.35 per ton); the May 2025 contract was $409.15 per ton (up $21.55 per ton); and the July 2025 contract was $401.50 per ton (up $20.35 per ton).

Meanwhile, domestic coffee prices, updated at 4:30 AM on December 7, 2024, continued their strong upward trend compared to the previous trading session, increasing by approximately 5,600 VND/kg. Currently, the average coffee purchase price in the Central Highlands provinces is 120,100 VND/kg.

Specifically, the purchase price of coffee in Gia Lai province is 120,000 VND/kg; the purchase price of coffee in Dak Nong province is 120,200 VND/kg, and Dak Lak has the highest price at 120,000 VND/kg; the price of green coffee beans (fresh coffee beans) in Lam Dong province, in districts such as Bao Loc, Di Linh, and Lam Ha, is 118,500 VND/kg.

Coffee prices today (December 7th) in Dak Lak province: In Cu M'gar district, coffee is being purchased at 120,100 VND/kg, while in Ea H'leo district and Buon Ho town, it is being purchased at 120,000 VND/kg.

Experts predict that coffee prices will continue their strong upward trend tomorrow, December 8, 2024.

According to statistics, today, December 7th, marks the third consecutive day of sharp triple-digit increases in world coffee prices, recovering losses from previous sessions of deep declines. Meanwhile, domestic coffee prices also saw a strong increase for the second consecutive day.

Experts predict that coffee prices, both domestically and internationally, will continue their strong upward trend tomorrow, December 8, 2024.

According to experts, coffee prices in the Central Highlands are rising faster than world prices due to various reasons, including speculation when coffee prices fall. Specifically, some businesses took advantage of the price drop earlier this week to buy coffee to fulfill contracts and hoard inventory for profit.

Furthermore, experts also believe that the global coffee market trend remains one of low supply compared to ever-increasing consumer demand. Moreover, the harvest in many areas is not yet at its peak, only reaching about 30%, and farmers are not under economic pressure, so the recent price drop did not lead to a panic selling. Therefore, when the world market recovered, domestic prices rose sharply again.

According to Reuters, despite being in the peak harvest season, domestic coffee prices in Vietnam are still rising due to high demand and limited supply. In the two months since the new harvest began, farmers in the Central Highlands have only harvested about 20% of the coffee crop.

Experts believe that farmers are currently not under much financial pressure thanks to stable income from other crops such as durian and pepper, so they are not in a hurry to sell their coffee and are waiting for prices to rise. In addition, speculators are also hoarding coffee to drive up prices and make profits.

Therefore, experts predict that on December 8, 2024, domestic and international coffee prices will continue their strong upward trend.

Source: https://congthuong.vn/du-bao-gia-ca-phe-ngay-mai-8122024-cac-chuyen-gia-nhan-dinh-gia-ca-phe-se-tang-manh-363066.html