On the third day of Tet (Lunar New Year), coffee prices shattered the record set on the second day.

Robusta coffee prices on the London exchange rose by $125 for the March contract, reaching a new record of $5,734 per ton; the May contract increased by $126 to $5,709 per ton; and the July contract rose by $114 to $5,625 per ton.

Coffee prices hit a new record high.

On the New York exchange, arbica coffee prices also rose sharply across the board; the March contract increased by $150.7 to $8,215/ton, the May contract increased by $149.6 to $8,100/ton, and the July contract increased by $150.7 to $7,950/ton.

Arabica coffee prices in Brazil also rose across the board, with the March contract increasing slightly by $6.6 to $10,090 per ton.

Coffee prices in the Central Highlands increased by an average of 1,500 VND, fluctuating between 128,000 and 128,500 VND per kilogram.

In an interview with Thanh Nien newspaper at the beginning of the year, Mr. Do Ha Nam , Chairman of the Board of Directors of Intimex Group and known as the "king of Vietnamese agricultural exports," predicted: "Coffee prices are rising without end." He also suggested that coffee prices would remain high for at least the first half of 2025. And indeed, in the first three days of the Year of the Snake, coffee prices increased by a total of $274 per ton, continuously setting new price records.

In the Central Highlands provinces, many coffee farmers say they've never had a happier Tet holiday than this year because coffee prices have reached their highest level ever. Some are taking advantage of the high prices to sell a portion of their harvest to bring good luck at the beginning of the year and to gauge the market. Meanwhile, farmers are also rushing to harvest late-ripening coffee crops right after Tet.

The current surge in coffee prices is partly due to recent threats by US President Donald Trump to impose a 25% tariff on Colombian goods imported into the country. Colombia is the world's third-largest coffee exporter after Brazil and Vietnam, and the second-largest supplier of coffee to the US. Although tensions between the US and Colombia have since eased, they have affected overall market sentiment.

Source: https://baodaknong.vn/mung-3-tet-gia-ca-phe-pha-sau-ky-luc-cua-ngay-mung-2-241607.html