World coffee prices
Early morning of November 28 (Vietnam time), on the London floor, the price of Robusta coffee futures for November 2024 delivery was at 5,533 USD/ton, up 358 USD/ton compared to yesterday. The January 2025 delivery futures increased 382 USD/ton, trading at 5,496 USD/ton.
Arabica coffee prices on the New York floor for December 2024 delivery were trading at 323 cents/lb, up 15 cents/lb compared to yesterday's trading level. For March 2025 delivery, they were trading at 320 cents/lb, up 14 cents/lb.
Coffee prices increased sharply today. (Illustration photo)
Domestic coffee prices
Domestic coffee prices today also increased in all localities, trading at 123,500 - 124,100 VND/kg.
Specifically, in Dak Lak province, today's coffee price was purchased at 124,000 VND/kg, an increase of 2,400 VND/kg compared to yesterday.
In Lam Dong , today's coffee price was purchased at 123,500 VND/kg, an increase of 2,500 VND/kg compared to the previous trading session.
In Gia Lai, coffee price today is trading at 123,900 VND/kg, up 2,600 VND/kg.
Coffee prices in Dak Nong province today increased by VND 2,100/kg, being purchased at VND 124,100/kg.
Global coffee prices continued their strong upward trend, reflecting deep concerns about future supply. Specifically, Arabica coffee prices increased by 1.33% to a 27-year high, while Robusta prices also increased by 1.27%, approaching the threshold of 5,200 USD/ton.
Rainfall in Minas Gerais, Brazil’s largest coffee-growing state, was below historical average last week, adding to supply concerns there. Somar Meteorologia reported just 6 mm of rainfall in Minas Gerais last week, or 10% of the historical average.
The low rainfall has raised concerns that coffee plants will not be able to fully recover and develop, leading to a sharp decrease in output compared to the current crop. Previously, Brazil's main coffee growing region experienced a prolonged period of historic drought, causing analysts to simultaneously reduce their forecasts for coffee production in the 2025-2026 crop year as well as the 2024-2025 crop year.
The US Department of Agriculture (USDA) Brazil office estimates the country’s coffee production in the 2024-25 crop year at 66.4 million 60-kg bags, down 3.5 million bags from the previous forecast. The total output decline is mainly due to a decline in Arabica coffee as the growing region faces harsh weather conditions during the flowering and bean development stages.
Not only that, exports in the 2024-2025 crop are estimated to decrease by 5% compared to the previous forecast and 2.5 million bags lower than the previous crop year, to 44.25 million bags. At the same time, ending inventories in the 2024-2025 crop year are down 65% compared to the forecast of USDA headquarters, to 1.24 million bags, and ending inventories in the 2023-2024 crop year are also cut from 2.88 million bags to 1.68 million bags.
Regarding the long-term outlook, consulting firm Hedgepoint in its latest global market report forecasts that Brazil's coffee output in the 2025-2026 crop year will only reach about 65.2 million bags, of which Arabica coffee output is expected to be at 42.6 million bags, down 1.4% compared to the previous crop.
Source: https://vtcnews.vn/gia-ca-phe-hom-nay-28-11-tang-manh-len-muc-cao-nhat-tu-truoc-den-nay-ar910063.html
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