World coffee prices “plummet”
The price of Robusta coffee on the London floor, updated at 3:30 p.m. on December 28, 2024, had a very deep price drop, from 28 - 88 USD/ton, fluctuating between 4,726 - 4,953 USD/ton. Specifically, the delivery period for March 2025 is 4,953 USD/ton (down 88 USD/ton); the delivery period for May 2025 is 4,884 USD/ton (down 69 USD/ton); the delivery period for July 2025 is 4,814 USD/ton (down 44 USD/ton) and the delivery period for September 2025 is 4,726 USD/ton (down 28 USD/ton).
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| Mr. Bui Xuan Thang - Director of Cau Dat Bean Da Lat Company Limited next to his organic coffee garden. Photo: Minh Hau |
Similarly, the price of Arabica coffee on the New York floor continued to decrease slightly, decreasing by 1.50 - 2.30 cents/lb, fluctuating from 303.70 - 322.65 cents/lb. Specifically, the delivery period for March 2025 is 322.65 cents/lb (down 2 cents/lb); the delivery period for May 2025 is 317.60 cents/lb (down 2.10 cents/lb); the delivery period for July 2025 is 311.05 cents/lb (down 2.30 cents/lb) and the delivery period for September 2025 is 303.70 cents/lb (down 1.50 cents/lb).
Brazilian Arabica coffee prices also decreased slightly from 0.55 - 3.05 USD/ton compared to yesterday, this is also the second consecutive price decrease on this floor, ranging from 374.30 - 402.55 USD/ton. Specifically, the delivery period in March 2025 is 402.55 USD/ton (down 1.90 USD/ton); the delivery period in May 2025 is 395.80 USD/ton (down 2.80 USD/ton); the delivery period in July 2025 is 387.05 USD/ton (down 3.05 USD/ton) and the delivery period in September 2025 is 374.30 USD/ton (down 0.55 USD/ton).
Domestic coffee prices “shockingly drop”
According to information from Giacaphe.com, updated coffee prices at 3:00 p.m. today, December 28, 2024, domestic coffee prices have "shockingly dropped" to an average of 120,900 VND/kg, down -1,200 VND/kg compared to yesterday.
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| Ripe coffee is dominating the gardens in Lam Dong . Photo: Minh Hau |
The highest coffee purchase price in key regions of the Central Highlands was recorded at 121,000 VND/kg. Specifically, today's coffee price in Dak Lak is 120,800 VND/kg, down -1,200 VND/kg compared to yesterday; coffee price in Lam Dong is 120,300 VND/kg, down -1,200 VND/kg. Meanwhile, coffee price in Gia Lai today is 121,800 VND/kg, also down -1,200 VND/kg and coffee price in Dak Nong today is 121,000 VND/kg, down -1,300 VND/kg compared to yesterday.
The domestic coffee prices that Giacaphe.com lists every day are calculated based on the prices of two world coffee exchanges combined with continuous surveys from businesses and purchasing agents in key coffee growing areas across the country.
Y5Cafe always tries to stay as close as possible to each region, however there will be days when the listed price does not completely match the local coffee purchase price, but Y5Cafe believes that the listed information is a valuable reference source for farmers and coffee purchasing businesses.
Coffee price prediction tomorrow 2 9/12/2024
According to experts, coffee prices in the domestic market are facing disadvantages when international coffee prices tend to decrease sharply. However, in the current context, the majority of coffee growers in Vietnam are still storing coffee for a long time without facing pressure on output.
Vietnam is one of the world’s largest coffee producers, with many farmers financially well-capitalized. This allows them to maintain production and inventory amid volatile prices. It is estimated that Vietnam will remain a major source of coffee for the international market until April 2025, especially as other countries’ harvest seasons have yet to begin.
The domestic coffee market needs to maintain stability, which is an important factor to help the Vietnamese coffee industry overcome difficulties and develop sustainably. However, facing the pressure of price reduction from the world coffee market, experts predict that domestic coffee prices will continue to decrease tomorrow, December 29, 2024, with a possible decrease of 500 - 700 VND/kg.
Source: https://congthuong.vn/du-bao-gia-ca-phe-ngay-mai-29122024-tiep-tuc-giam-gia-366746.html
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