World coffee prices fall to record low
Updated at 3:30 p.m. on December 20, 2024, Robusta coffee prices on the London floor witnessed a sharp decline for the third consecutive session of the week, from 90-101 USD/ton, fluctuating from 4904 - 5061 USD/ton. Specifically, the delivery period for January 2025 is 5061 USD/ton (down 90 USD/ton); the delivery period for March 2025 is 5046 USD/ton (down 93 USD/ton); the delivery period for May 2025 is 4991 USD/ton (down 94 USD/ton) and the delivery period for July 2025 is 4904 USD/ton (down 101 USD/ton).
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| People in Gia Lai province harvest ripe coffee. Photo: Hien Mai |
Similarly, Arabica coffee prices on the New York floor also decreased sharply compared to yesterday's trading session, with a decrease of 8.90 - 9.70 cents/lb, fluctuating from 301.75 - 323.75 cents/lb. Specifically, the delivery period for March 2025 is 323.75 cents/lb (down 8.90 cents/lb); the delivery period for May 2025 is 318.30 cents/lb (down 9.10 cents/lb); the delivery period for July 2025 is 311.00 cents/lb (down 9.70 cents/lb) and the delivery period for September 2025 is 301.75 cents/lb (down 9.65 cents/lb).
At the end of the trading session, the price of Brazilian Arabica coffee also decreased sharply from 0.70 - 12.85 USD/ton compared to yesterday, fluctuating from 387.00 - 403.00 USD/ton. Specifically, the delivery period for December 2024 is 403.00 USD/ton (up 10.20 USD/ton); the delivery period for March 2025 is 405.00 USD/ton (down 0.70 USD/ton); the delivery period for May 2025 is 396.80 USD/ton (down 12.05 USD/ton) and the delivery period for July 2025 is 387.00 USD/ton (down 12.85 USD/ton).
Domestic coffee prices “plummet”
Under the pressure of a sharp drop in world coffee prices, domestic coffee prices could not maintain stability and fell for the third consecutive session. According to information from Giacaphe.com, updated coffee prices at 3:30 p.m. today, December 20, 2024, the average domestic coffee price was at 121,900 VND/kg, down -1,900 VND/kg compared to yesterday.
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 121,500 VND/kg. In Cu M'gar district ( Dak Lak ), today's coffee price is at 122,200 VND/kg. In Ea H'leo district (Dak Lak), Buon Ho district (Dak Lak), today's coffee price is purchased at the same price of 122,400 VND/kg.
Similarly, in Dak Nong province, the coffee purchase price today is 122,000 VND/kg in Gia Nghia and 123,400 VND/kg in Dak R'lap. In Gia Lai province, the coffee price today is 121,800 VND/kg (Chu Prong), in Pleiku and La Grai, the price is 122,000 VND/kg.
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 you.
Coffee price prediction tomorrow 12/21/2024
In yesterday's trading session, world coffee prices on both exchanges fell sharply. The main reason was the high USD right before the year-end holiday, forcing speculators to sell their goods instead of holding on to their stocks.
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| People dry coffee after harvest. Photo: Hien Mai |
In addition, in the early morning of December 20 in the US market, the US Dollar Index (DXY), measuring the fluctuations of the greenback compared to 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF), increased by 0.37%, reaching 108.40. The USD is currently fluctuating near its highest level in 2 years, after the US Federal Reserve (Fed) announced its decision to cut interest rates and predicted that the path of monetary policy easing will take place more slowly in 2025.
In Vietnam, this year’s coffee harvest season has brought an exciting atmosphere. Coffee prices have increased, ranging from 100,000 to 120,000 VND/kg. For farmers, this is not only a bumper crop in terms of economic value but also a great source of spiritual encouragement, helping them to believe in the future of coffee trees on the plateau.
This year’s weather has also been erratic, with prolonged heat and storms causing difficulties for coffee growers, leading to a significant reduction in output. Fortunately, coffee prices have increased, partly offsetting these difficulties.
Global coffee market analysts say that the strong fluctuations in world coffee prices are an important factor affecting coffee output and value in producing countries, including Vietnam. However, according to experts, coffee prices tomorrow, December 21, 2024, cannot continue to decrease.
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