World coffee prices
Early morning of November 27 (Vietnam time), on the London floor, the price of Robusta coffee futures for November 2024 delivery was at 5,175 USD/ton, up 65 USD/ton compared to yesterday. The January 2025 delivery futures increased by 78 USD/ton, trading at 5,114 USD/ton.
Arabica coffee prices on the New York floor for December 2024 delivery were trading at 308 cents/lb, up 4 cents/lb compared to yesterday's trading level. For March 2025 delivery, they were trading at 306 cents/lb, up 4 cents/lb.
Coffee prices increased sharply today. (Illustration photo)
Domestic coffee prices
Domestic coffee prices today also increased across localities, trading at 121,000 - 121,900 VND/kg.
Specifically, in Dak Lak province, today's coffee price was purchased at 121,600 VND/kg, an increase of 1,600 VND/kg compared to yesterday.
In Lam Dong , today's coffee price was purchased at 121,000 VND/kg, an increase of 2,200 VND/kg compared to the previous trading session.
In Gia Lai, coffee price today is trading at 121,600 VND/kg, up 1,700 VND/kg.
Coffee prices in Dak Nong province today also recorded an increase of 1,900 VND/kg, purchased at 121,900 VND/kg.
Thus, domestic and international coffee prices are recording their 6th consecutive session of increase. Concerns about the global geopolitical situation have caused speculators to withdraw capital and transfer it to commodity exchanges.
On the supply and demand side, concerns about unfavorable weather in Vietnam and Brazil affecting production have caused prices to rise sharply. Military conflicts around the world have also caused transportation costs and many other costs in exports to increase.
According to statistics, in the first 15 days of November, Vietnam only exported 20,933 tons of coffee, with an export turnover of over 121.79 million USD, down 44.8% in volume but up 1.8% in value compared to the same period last year.
In previous years, export volume in November has increased gradually as farmers have entered the main harvest period. However, this year's figures reflect an unusual phenomenon: Coffee prices have increased but export output has decreased sharply.
The main reason is that the price of coffee is rising, causing a lack of balance between supply and demand. Buyers are waiting for prices to drop, while sellers are waiting for prices to rise. The two sides have not found a common price to conduct a transaction, so many transactions have stalled. Many traders are even holding back their goods, waiting for the price of coffee to rise before releasing them to the market. International buyers still have stockpiles, so they are not in a hurry to close orders.
Source: https://vtcnews.vn/gia-ca-phe-hom-nay-27-11-tang-phien-thu-6-lien-tiep-ar909853.html
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