Coffee price today December 1, 2024: World coffee price turns down
Coffee prices today December 1, 2024: World coffee prices reversed and fell from the peak reached the previous day. In particular, robusta fell sharply by 156 USD/ton and arabica fell by 5 cents/pound. Domestically, coffee prices also fell by 1,000 - 1,200 VND/kg.
Domestic coffee prices today
Specifically, today's coffee price in Dak Lak decreased by 1,000 VND/kg, reaching 130,000 VND/kg.
Coffee price today in Lam Dong also decreased by 1,200 VND/kg, reaching 129,500 VND/kg.
Similarly, today's coffee price in Gia Lai decreased by 1,000 VND/kg, reaching 130,000 VND/kg.
Today's coffee price in Dak Nong has the highest price, down 1,000 VND/kg, reaching 130,500 VND/kg.
Despite a slight decrease, domestic coffee prices are at a record high during the peak harvest period, 2.2 times higher than the same period last year.
World coffee prices today
On the London exchange, the online price of Robusta coffee for January 2025 delivery fell 2.8% (equivalent to 156 USD/ton) compared to the previous trading session, down to 5,409 USD/ton. The contract for March 2025 delivery also fell 2.73% (151 USD/ton), standing at 5,537 USD/ton.
After the holiday, the price of Arabica coffee futures for March 2025 on the New York Stock Exchange fell 1.55% (5 US cents/pound) to 318 US cents/pound. The contract for May 2025 also fell 1.62% (5.2 US cents/pound) to 315.5 US cents/pound.
The market was turned upside down by the weakness of the Brazilian real, which fell to a record low against the dollar. The weakness of the real encouraged Brazilian coffee producers to boost exports, leading to a sell-off in coffee futures.
Meanwhile, data from the Indonesian government showed robusta coffee exports from Sumatra island, Indonesia's largest coffee-producing region, totaled 532,387 bags in October, double the same period last year.
This has helped Sumatra's total robusta coffee exports in the first seven months of the current coffee crop year (April 2024 to March 2025) reach 1.8 million bags, an increase of 208,048 bags, or 13.06%, over the same period last year.
