Coffee price world
Early in the morning of 2/11 (Vietnam time), on the London floor, the price of Robusta coffee for monthly delivery November 2024 decreased by 85 USD/ton, at 4.284 USD/ton, while the monthly term January 2025 decreased by 67 USD/ton, reaching 4.214 USD/ton.
Similarly, on the New York floor, the price of Arabica coffee for monthly delivery December 2024 decreased by 3,60 cents/lb, down to 242,30 cents/lb; the monthly delivery March 2025 also decreased by 3,65 cents/lb, reaching 241,85 cents/lb.
The main reason is due to forecast of increased coffee production in Brazil and pressure from new coffee harvest in Vietnam.
According to the Brazilian Institute of Geography and Statistics (IBGE), in the 2024-2025 crop year, Brazil, the world's largest coffee producer, is estimated to reach 3,6 million tons of coffee, up 4,8% compared to the previous crop year thanks to increased planting area and productivity.
Today's coffee prices 2/11 decreased simultaneously. (Illustration photo).
Brazil's Arabica output is forecast to reach 2,5 million tonnes, up 6,5%, while Robusta coffee will reach 1,06 million tonnes.
Favorable weather in Brazil and increasing coffee supplies from Vietnam are putting pressure on global coffee prices.
In the first two months of the new crop year, Brazil exported 451.000 tons of coffee with a turnover of nearly 1,9 billion USD, up 39% over the same period last year.
Robusta coffee exports alone increased by 53%, increasing supply and putting downward pressure on prices on the world market.
Coffee prices in the country
2/11, domestic coffee prices today continue to fall sharply. According to the page giacaphe.com, domestic coffee prices today decreased sharply by 1.500 VND/kg, ranging from 107.300-107.700 VND/kg.
In key areas such as Lam Dong, Dak Lak, Gia Lai , and Kon Tum, coffee prices ranged from 107.300 to 107.700 VND/kg, down 1.500 VND/kg compared to yesterday.
Specifically, the price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province was purchased at 107.300 VND/kg, down 1.500 VND/kg compared to yesterday.
In Dak Lak province, coffee was purchased at about 107.700 VND/kg, down 1.500 VND/kg.
In Kon Tum province, coffee price is at 107.600 VND/kg, also down 1.500 VND/kg.
In the province Dak Nong Coffee was purchased at the highest price of 107.700 VND/kg, down 1.500 VND/kg compared to yesterday.
The Vietnam Coffee and Cocoa Association (VICOFA) said it has reported on Vietnam's coffee export turnover for the 2023-2024 crop year. Notably, a famous name in the Vietnamese coffee industry, Trung Nguyen Group, only ranked 16th with an export value of 114 million USD.
Currently, Vietnamese coffee has been exported to over 80 countries and territories. Of which, Europe accounts for about 48% of the market share, Asia 21%, and America 6%.
The ranking of enterprises with large coffee export turnover in Vietnam also changed when Vinh Hiep Company Limited (Gia Lai) surpassed Intimex Group Joint Stock Company (HCMC) to take the top spot.
Specifically, Vinh Hiep's export turnover increased sharply from 244 million USD in the 2022-2023 crop year to 520 million USD in the 2023-2024 crop year. Meanwhile, Intimex Group had a lower growth rate, from 318 million USD to 407 million USD.
In addition to the two leading positions, other enterprises with export value of over 200 million USD are Louis Dreyfus Company Vietnam, Tuan Loc Commodities, Dak Lak 2-9 Import-Export Company Limited, Nestlé Vietnam Company, and Intimex My Phuoc Joint Stock Company.
Sources: https://vtcnews.vn/gia-ca-phe-hom-nay-2-11-dong-loat-giam-ar905237.html
