Domestic coffee prices remain high.

Today's coffee prices on December 2nd, 2024, at 4:30 AM on the world market were updated on the Vietnam Commodity Exchange (MXV) (world coffee prices are continuously updated by MXV, matching those of exchanges worldwide; it is the only channel in Vietnam that continuously updates prices linked to exchanges around the world). Today's online coffee prices from the three main futures exchanges, ICE Futures Europe, ICE Futures US, and B3 Brazil, are continuously updated by Y5Cafe throughout the trading hours of the exchanges, as follows:

London Robusta coffee prices on December 2, 2024

At the close of trading, Robusta coffee prices on the London exchange at 4:30 AM on December 2, 2024, remained unchanged compared to the previous trading session and were pegged at relatively high levels, fluctuating between 5,215 and 5,730 USD/ton. Specifically, the January 2025 delivery contract was 5,409 USD/ton; the March 2025 delivery contract was 5,377 USD/ton; the May 2025 delivery contract was 5,310 USD/ton; and the July 2025 delivery contract was 5,228 USD/ton.

Arabica coffee prices on the New York exchange on December 2, 2024

Similarly, on the morning of December 2nd, 2024, the price of Arabica coffee in New York showed little change compared to the previous trading session, fluctuating between 304.50 and 335.45 cents/lb. Specifically, the March 2025 delivery contract was 318.05 cents/lb; the May 2025 delivery contract was 315.50 cents/lb; the July 2025 delivery contract was 310.85 cents/lb; and the September 2025 delivery contract was 305.80 cents/lb.

Brazilian Arabica coffee prices on December 2, 2024

At the close of trading on the morning of December 2, 2024, Brazilian Arabica coffee prices remained stable across all delivery periods, fluctuating between US$386.85 and US$400.00 per ton. Specifically, the December 2024 delivery contract was US$397.95 per ton; the March 2025 contract was US$393.70 per ton; the May 2025 contract was US$393.15 per ton; and the July 2025 contract was US$386.85 per ton.

Robusta coffee traded on the ICE Futures Europe exchange (London exchange) opens at 4:00 PM and closes at 12:30 AM (the next day), Vietnam time. Arabica coffee traded on the ICE Futures US exchange (New York exchange) opens at 4:15 PM and closes at 1:30 AM (the next day), Vietnam time. Arabica coffee traded on the B3 Brazil exchange opens from 7:00 PM to 2:35 AM (the next day), Vietnam time.

Domestic coffee prices, updated at 4:30 AM on December 2nd, 2024, are as follows: Domestic coffee prices remained unchanged compared to the previous trading session and are currently at a high level. The average purchase price in the Central Highlands provinces is currently 130,200 VND/kg.

Specifically, the purchase price of coffee in Gia Lai province is 130,000 VND/kg. However, the current purchase price in Dak Nong province is the highest at approximately 130,500 VND/kg.

In Lam Dong province, in districts such as Bao Loc, Di Linh, and Lam Ha, the price of bulk green coffee beans (green coffee beans, fresh coffee beans) is 129,500 VND/kg.

Today's coffee prices (December 2nd) in Dak Lak province are as follows: in Cu M'gar district, coffee is being purchased at 130,000 VND/kg, while in Ea H'leo district and Buon Ho town, it is being purchased at 129,900 VND/kg.

Domestic coffee prices on December 2, 2024

According to experts and traders, coffee prices are expected to remain high in the near future, with the possibility of a slight increase. This is attributed to unfavorable and erratic weather conditions in the two largest coffee-producing countries in the world, Brazil and Vietnam, as well as heavy rains in South American countries. In the Vietnamese market, despite the peak harvest season and high prices, many farmers are only selling small quantities to cover the costs of cultivation, harvesting, irrigation, and fertilization, while the majority are holding back, hoping for further price increases.

Currently, the global coffee market is experiencing a shortage, and coffee inventories on international exchanges are low. For example, the price of Arabica coffee on the New York exchange has been rising continuously recently. This is due to concerns about a supply shortage from Brazil, caused by prolonged drought in many growing regions.

Recently, the Foreign Agricultural Service (FAS) of the U.S. Department of Agriculture (USDA) revised its estimate for Brazil's coffee production in the 2024-2025 crop year down to 66.4 million bags, lower than the USDA's previous forecast of 69.9 million bags. Notably, Brazil's coffee inventory at the end of the 2024-2025 crop year is projected to decrease by 26% compared to the previous year, to only 1.2 million bags.

Meanwhile, according to estimates by the ICAFE Coffee Institute, heavy rains in Costa Rica have led to a national emergency and caused damage to nearly 15% of the Central American nation's annual coffee production, equivalent to approximately $45 million for coffee growers.

According to calculations by coffee farmers in Vietnam's Central Highlands, the average cost of producing one kilogram of coffee is around 30,000-40,000 VND. However, the current selling price has risen to over 130,000 VND/kg. This means farmers are making a profit of 2-3 times their investment costs.

Source: https://congthuong.vn/gia-ca-phe-hom-nay-2122024-gia-ca-phe-trong-nuoc-giu-o-muc-cao-361894.html