World coffee prices “sideways”
The price of Robusta coffee on the London floor updated at 13:50 on December 15, 2024 remained at a range of 5046 - 5209 USD/ton compared to the previous day. Specifically, the delivery period for January 25 is 5209 USD/ton; the delivery period for March 25 is 5184 USD/ton; the delivery period for May 25 is 5126 USD/ton and the delivery period for July 25 is 5046 USD/ton.
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| Mr. Bui Xuan Thang - Director of Cau Dat Bean Company Limited next to his organic coffee garden. Photo: Minh Hau |
Similarly, the price of Arabica coffee on the New York floor on December 15, 2024, also remained at a price range of 304.85 - 319.50 cents/lb compared to the previous day. Specifically, the delivery period for March 25 is 319.50 cents/lb; the delivery period for May 25 is 317.05 cents/lb; the delivery period for July 25 is 312.45 cents/lb and the delivery period for September 25 is 304.85 cents/lb.
The price of Brazilian Arabica coffee on the morning of December 15, 2024 remained unchanged for most delivery periods compared to the previous day, except for the December 24 delivery period, the price decreased to 396.90 USD/ton (down 2.30 USD/ton). The remaining March 25 delivery periods remained at 408.70 USD/ton; the May 25 delivery period was 395.15 USD/ton and the July 25 delivery period was 388.95 USD/ton.
Domestic coffee prices are high
In contrast to the world coffee market, in the domestic market, as of 2:00 p.m. today (December 15), the domestic coffee market continues to maintain high prices, currently fluctuating between 123,500 - 125,200 VND/kg. The average coffee purchase price in the Central Highlands provinces today is 125,100 VND/kg.
Lam Dong is still the province with the lowest coffee purchase price in the Central Highlands region at 123,500 VND/kg. In the same direction, the coffee purchase price in Gia Lai and Dak Lak provinces today is still second on the ranking, both listed at 125,000 VND/kg.
Notably, Dak Nong has always maintained a stable performance, firmly holding the leading position in the Central Highlands and other provinces and cities when having the highest coffee purchase price in the country, setting the mark of 125,200 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.
Coffee price prediction tomorrow 1 6/12/2024
Although the Central Highlands provinces are facing bad weather due to prolonged heavy rains, farmers here are still pushing to harvest coffee because the coffee is ripe, if not harvested, the coffee beans will crack, seriously affecting the quality. In addition, world coffee prices have also begun to stagnate and slightly decrease on some exchanges, so it is likely that farmers will sell to take profits to avoid a sharp drop in coffee prices.
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| Coffee beans of people in Tram Hanh commune, Da Lat city, Lam Dong province. Photo: Minh Hau |
In addition, according to information from the Brazilian Coffee Exporters Association (CECAFE), Brazil and other major producing countries will continue to boost coffee exports after the 2024-2025 harvest, contributing to supplementing short-term market supply and putting pressure on prices. The Brazilian Coffee Exporters Association (CECAFE) announced that in November, this South American country exported 4.66 million 60-kg bags of coffee, up 5.4% over the same month in 2023. In the first 11 months of 2024, Brazil's coffee exports reached a record of nearly 46.4 million bags, exceeding 3.78% compared to the highest level recorded in 2020 and increasing 32.2% over the same period in 2023. Previously, the Brazilian Government announced that in November, the country exported more than 285,000 tons of green coffee, up 21.6% over the same period in 2023.
Accordingly, experts predict that coffee prices tomorrow, December 16, 2024, will stagnate and tend to decrease slightly.
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