USDA forecasts that coffee consumption demand will continue to increase, especially Europe, which is still the world's largest market. EU coffee consumption will continue to increase by 146,000 tons compared to last year, reaching 2.5 million tons. The US market is estimated to consume about 1.5 million tons of coffee next year.
Coffee price today 12/20/2024
World coffee prices fell sharply on both London and New York exchanges. Robusta coffee prices fell for the second consecutive session, falling close to $5,000/ton. Arabica prices fell by three digits.
Domestic coffee prices have been temporarily adjusted, currently trading in the range of 122,500 - 124,000 VND/kg. This year's coffee harvest season brings an exciting and hopeful atmosphere to growers of this specialty crop.
According to industry insiders, domestic coffee prices this year have increased along with the world market, fluctuating at 100,000 to 120,000 VND/kg at the beginning of the season and may continue to increase. This year's erratic weather, prolonged heat, and storms have made coffee growers suffer, and output has decreased significantly. In return, coffee prices have compensated somewhat. For coffee farmers, this is not only a bumper crop in terms of economic value but also a great source of spiritual encouragement, helping them to have confidence in the future of coffee trees on the highlands.
Global markets cooled down ahead of the long holiday season, while the dollar surged ahead of the year-end holidays, making it difficult for speculators to hold onto their stocks and instead sell them. The dollar hovered near a two-year high in the last trading session, after the US Federal Reserve (Fed) cut interest rates and signaled a much slower path to monetary policy easing through 2025.
Analysts of the global coffee market say that the strong fluctuations in world coffee prices are an important factor affecting the output and value of coffee in producing countries, including Vietnam. Factors such as adverse weather and changes in global supply and demand are contributing to price instability.
The European Parliament's recent approval of a document agreeing with the European Council to delay the application of the EU anti-deforestation regulation (EUDR) for another 12 months also partly affected market prices in the last days of the year.
In the updated report on the world coffee market situation of the US Department of Agriculture, the global coffee output in the 2024-2025 crop year is forecast to increase by 414,000 tons compared to the previous crop year, reaching nearly 10.5 million tons. Of which, the supply of Arabica coffee at 5.9 million tons is still down about 120,000 tons compared to the previous crop year, due to the poor harvest in Brazil. In contrast, Robusta coffee will increase compared to the previous crop year and reach 4.6 million tons thanks to improved supply mainly from Vietnam and some countries such as Colombia, Indonesia, India and Honduras.
 |
| Domestic coffee prices on December 19 slightly decreased by 200 VND/kg in some key purchasing localities. (Source: ohman.vn) |
According to World & Vietnam , at the end of the trading session on December 19, the price of robusta coffee on the ICE Futures Europe London exchange decreased sharply, the delivery period in January 2025 decreased by 90 USD, trading at 5,061 USD/ton. The delivery period in March 2025 decreased by 93 USD, trading at 5,046 USD/ton. Trading volume was low.
Arabica coffee prices on the ICE Futures US New York floor also fell sharply, with the March 2025 delivery term down 8.9 cents, trading at 323.75 cents/lb. Meanwhile, the May 2025 delivery term down 9.1 cents, trading at 318.30 cents/lb. Trading volume was high.
Domestic coffee prices on December 19 slightly decreased by 200 VND/kg in some key purchasing localities. Unit: VND/kg
(Source: giacaphe.com) |
The European Parliament has just published a text agreeing to the European Council’s proposal to delay the application of the EUDR by 12 months. It also asks the European Commission to commit to ensuring that both the information systems for regulators and traders are fully operational by 30 June 2025 at the latest. In addition, the Commission must propose a risk classification of countries and regions for compliance with the regulation.
The European Parliament's approval of the proposal to postpone the EUDR is considered the final procedural step, the official text will be published by the European Council in the next few days.
The Food and Agriculture Organization of the United Nations (FAO) estimates that 420 million hectares of forest were lost to deforestation between 1990 and 2020. This area was then used to illegally produce many commodities, of which more than two-thirds were palm oil and soybeans; the EU market consumes about 10% of the global production of commodities produced from illegally logged forest land.
That is why the European Parliament adopted the EUDR on 19 April 2023, which aims to combat climate change and biodiversity loss by preventing deforestation linked to the consumption of EU products from cattle, cocoa, coffee, palm oil, soy, wood, rubber, charcoal and printing paper.
Source: https://baoquocte.vn/gia-ca-phe-hom-nay-20122024-gia-ca-phe-trong-nuoc-con-tang-dong-usd-cao-nhat-2-nam-thong-tin-cap-nhat-ve-eudr-298025.html
Comment (0)