Coffee price today December 13, 2024: Sharp drop as investors take profits
Today, December 13, domestic coffee prices have decreased by 1,700 to 2,000 VND/kg compared to yesterday. This is not surprising, because investors take profits when the price is good.
Domestic coffee prices today
Specifically, today's coffee price in Dak Lak decreased by 1,700 VND/kg compared to yesterday, reaching 123,000 VND/kg.
Coffee prices today in Lam Dong also decreased by 2,000 VND/kg compared to yesterday, reaching 122,000 VND/kg.
Similarly, today's coffee price in Gia Lai decreased by 1,700 VND/kg compared to yesterday, reaching 123,000 VND/kg.
Coffee prices today in Dak Nong are still at the highest level, down 1,700 VND/kg compared to yesterday, reaching 123,200 VND/kg.
Mr. Nguyen Ngoc Luan, founder of the MetMore coffee brand, shared that with the current coffee price, farmers can rest assured because they will not have to worry about losing money, the only issue is how much profit. However, businesses face many difficulties because raw material prices change constantly, making it difficult for them to set stable prices in the long term.
The recent drop in coffee prices is not surprising, as after a long period of consecutive increases, the market will often have downward adjustments as investors take profits.
In the domestic market, some coffee exporting enterprises said they still maintain cautious transactions, being cautious in buying and selling to avoid risks from price fluctuations.
This year, coffee growers have had a rather lucky year as their income has improved significantly thanks to the sharp increase in coffee prices, which have doubled compared to the previous year. At many times, coffee prices have remained high at over VND120,000/kg.
This price increase not only helps farmers earn more income but also motivates them to reinvest in coffee tree care, improve productivity and quality, thereby contributing to the sustainable development of the coffee industry, one of Vietnam's key agricultural products.
World coffee prices today
At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery increased by 17 USD/ton compared to yesterday, at 5,178 USD/ton, and for January 2025 delivery increased by 38 USD/ton compared to yesterday, at 5,139 USD/ton.
Arabica coffee prices for December 2024 delivery decreased by 0.30 cents/lb compared to yesterday, at 319.90 cents/lb, and for March 2025 delivery was stable compared to yesterday, at 317.80 cents/lb.
Volcafe Ltd., one of the world’s largest coffee traders, has cut its forecast for Brazil’s arabica coffee output after a survey showed a prolonged drought in the world’s largest coffee exporter is more severe than expected, according to Bloomberg.
In its latest report, Volcafe said Brazil is forecast to produce only 34.4 million bags of Arabica coffee in the upcoming season, down about 11 million bags from its September estimate. This puts global coffee production at risk of falling short of demand, leading to a shortfall of up to 8.5 million bags in the 2025-2026 crop year. If this happens, it will be the fifth consecutive year of global coffee production deficit, an unprecedented situation.
Volcafe believes that Brazil has the potential to supply a surplus of coffee to meet global demand. However, new surveys show that the failure rate of coffee trees in Brazil to flower is very high, which significantly reduces the country's ability to produce coffee in the future.
