Coffee price today 12/4/2024
World coffee prices continued to fall sharply in the first two sessions of the week. Robusta coffee prices plunged while Arabica prices fell less. The high USD and strong speculation on the floor pushed coffee prices down dramatically.
Domestic coffee prices today, December 4, followed the trend of the world market, decreasing hourly, losing up to 20,000 VND/kg in just 2 days, currently trading in the range of 107,000 - 108,000 VND/kg. Domestically, the harvest has entered the main season but farmers have not yet pushed to sell. Vietnam has harvested about 30% of the output but has not sold much because it is in the drying process.
In the world market, there is a phenomenon of strong speculative selling to take profit after Arabica prices reached a peak of nearly 50 years. According to experts, coffee is returning to its true value at the present time.
The world coffee price went crazy, causing the domestic market to go crazy as well. After the record drop on the night of December 3, the price dropped sharply hour by hour from over 130,000 VND to only about 112,000 VND/kg in the late afternoon; at the same time, the London market opened a new session and was still in the red, while the domestic price continued to fall.
The two world exchanges continue to be red, forecasting that the price of Central Highlands coffee will continue to fall sharply. Businesses are “crying” because the price fluctuates very unpredictably.
Industry insiders say that this fluctuation makes the coffee business riskier than gambling. When prices increase, we cannot buy enough goods to deliver, so we have to increase the price, resulting in losses. When prices decrease rapidly and continuously, we lose money every time we buy. When buying and selling for immediate delivery, we cannot "fix" the price. The fluctuation range of increase and decrease is more than 5,000 VND/day, which is extremely difficult.
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| Domestic coffee prices on December 4 continued to fall by another VND1,000/kg in some key purchasing localities. (Source: Braziliancoffee) |
According to World & Vietnam , at the end of the trading session on December 3, the price of robusta coffee on the ICE Futures Europe London exchange continued to decline sharply, with the delivery term for January 2025 falling by 208 USD, trading at 4,626 USD/ton. The delivery term for March 2025 fell by 202 USD, trading at 4,604 USD/ton. High trading volume.
Arabica coffee prices on the ICE Futures US New York exchange decreased, with the March 2025 delivery period decreasing by 0.55 cents, trading at 295.05 cents/lb. Meanwhile, the May 2025 delivery period decreased by 0.6 cents, trading at 293.65 cents/lb. Trading volume was high on average.
Domestic coffee prices on December 4 continued to fall by another VND1,000/kg in some key purchasing localities. Unit: VND/kg
(Source: giacaphe.com) |
Recently, the event of exporting the first container of finished roasted coffee of the MISS EDE brand to the US market is very important, opening up great opportunities for exporting processed coffee, increasing the value of the Dak Lak coffee industry.
On December 1, in Buon Ma Thuot city, Dak Lak province, EDE Farm Service Trading Company Limited (MISS EDE) held a ceremony to export the first container of roasted and ground coffee of the MISS EDE brand to the US market. This event marked an important turning point in the journey to bring the Dak Lak coffee brand to the world.
The container of roasted and ground coffee exported to the US market is 20 feet in size, including 18,000 packages of roasted and ground coffee. This is a complete coffee product, packaged in Vietnam, not raw coffee or processed labels. The coffee is processed according to the fermentation process that meets US FDA standards.
Coffee materials are grown in sustainable farming areas without encroachment on natural forests, certified by EUDR and managed by Simexco Dak Lak - strategic partner and export consignee of MISS EDE. Importing enterprise in Illinois state (USA), distributing products in local supermarket systems, opening up opportunities to approach US consumers and enhancing the Vietnamese coffee brand in the international market.
Speaking at the ceremony, Director of the Department of Industry and Trade of Dak Lak province, Luu Van Khoi, said that currently, the province's agricultural products have reached more than 70 countries and territories around the world. Among them, many agricultural products of the province have good competitiveness in the world market.
In recent times, the export of instant coffee and other processed coffee products has remained low, not bringing much added value to the Dak Lak coffee industry. Therefore, the event of exporting the first container of roasted and ground coffee of the MISS EDE brand to the US market is very important, opening up great opportunities for exporting processed coffee, increasing the value of the Dak Lak coffee industry.
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