Continuously increasing strongly, exceeding the mark of 127,000 VND/kg

Domestic coffee prices today

Specifically, today's coffee price in Dak Lak increased by 4,000 VND/kg, reaching 128,000 VND/kg.

Coffee prices today in Lam Dong also increased by 4,000 VND/kg, reaching 127,500 VND/kg.

Similarly, today's coffee price in Gia Lai increased by 4,000 VND/kg, reaching 127,900 VND/kg.

Today's coffee price in Dak Nong has the highest price when it increased by 4,100 VND/kg, reaching 128,200 VND/kg.

The global coffee market is witnessing a strong upward trend, reflecting concerns about supply in the coming time. Arabica coffee prices have reached a 27-year high, while Robusta prices have also increased significantly, approaching the threshold of 5,600 USD/ton.

Coffee prices are being driven by geopolitical factors such as shipping disruptions in the Red Sea, the possibility of US tariffs and new anti-deforestation regulations from the European Union (EU) in the future, according to analysts. Supply issues will have a major impact on consumers, said John Plassard of Mirabaud Group.

Against this backdrop, companies are planning to negotiate coffee contracts early next year. Food giants such as Nestle have predicted they will raise prices for their customers. The Swiss conglomerate has also announced it will adopt a strategy of raising prices and reducing the size of coffee bags to protect profits.

World coffee prices today

At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery decreased by 49 USD/ton, at 5,484 USD/ton, and for January 2025 delivery decreased by 44 USD/ton, at 5,452 USD/ton.

Arabica coffee prices for December 2024 delivery increased by 14.20 cents/lb to 323.05 cents/lb, and for March 2025 delivery increased by 14.40 cents/lb to 350.70 cents/lb.

Robusta coffee futures rose by $358 a tonne, or 6.92%, in a recent trading session, the smallest increase compared to other futures, which have seen wilder swings. This reflects investors’ concerns about a potential future shortage of coffee, a bean essential to the world’s daily beverage.

According to the United States Department of Agriculture (USDA) in Brazil, the country's coffee production in the 2024-2025 crop year is forecast to reach 66.4 million bags (60kg), down 3.5 million bags from the previous forecast. The main reason is the decrease in Arabica coffee production, when the main growing regions faced harsh weather during the seed development and flowering stages.

Global coffee prices continue to climb as crops in Vietnam and Brazil face difficulties. In Vietnam, unfavorable weather has caused crop failures and delayed harvests, while in Brazil, prolonged heat has severely affected production, putting the next crop at risk of decline. Domestic coffee prices are forecast to continue to rise sharply, even returning to the historical peak of over VND134,000/kg as at the end of April.

Source: https://baodaknong.vn/gia-ca-phe-hom-nay-29-11-2024-lien-tuc-tang-manh-vuot-moc-127-000-dong-kg-235494.html