Coffee prices today, December 17, 2024: Domestic prices slightly decreased.
Today, December 17th, domestic coffee prices are at 122,500 - 124,200 VND/kg. Prices have decreased slightly by 1,000 VND/kg compared to yesterday. Arabica coffee prices have reached their highest level in nearly 50 years.
Domestic coffee prices today
Specifically, the price of coffee in Dak Lak today decreased by 1,000 VND/kg compared to yesterday, reaching 124,000 VND/kg.
Coffee prices in Lam Dong today also decreased by 1,000 VND/kg compared to yesterday, reaching 122,500 VND/kg.
Similarly, the price of coffee in Gia Lai today decreased by 1,000 VND/kg compared to yesterday, reaching 124,000 VND/kg.
Coffee prices in Dak Nong today remain at their highest level, down 1,000 VND/kg compared to yesterday, reaching 124,200 VND/kg.
Dak Nong is facing difficulties in replanting coffee due to market fluctuations and the impact of climate change.
According to the Department of Agriculture and Rural Development, the coffee replanting program has helped rejuvenate many old, low-yielding coffee plantations. Since 2021, the province has been accelerating the implementation of the replanting project for the 2021-2025 period, developing policies and integrating various support projects.
However, the area for replanting has not met the target. From 2021 to the present, only 7,456 hectares have been replanted out of a total planned 17,892 hectares.
The main reasons are high investment costs (seeds, fertilizers, pesticides, labor) and sharply rising coffee prices, which make farmers reluctant to demolish their old plantations. In addition, climate change and erratic weather make grafting and renovating coffee plants difficult.
World coffee prices today
At the close of the most recent trading session, Robusta coffee prices in London for November 2024 delivery rose by $18/ton compared to yesterday, reaching $5,227/ton, while prices for January 2025 delivery increased by $19/ton compared to yesterday, reaching $5,203/ton.
Arabica coffee prices for December 2024 delivery increased by 6.45 cents/lb compared to yesterday, reaching 325.95 cents/lb, while March 2025 delivery decreased by 6.10 cents/lb compared to yesterday, reaching 323.15 cents/lb.
The market is currently paying close attention to coffee price movements, despite some price fluctuations last week. Arabica coffee prices fell 3.26% from the benchmark, although they had briefly reached a new historical high during the week. Conversely, Robusta coffee prices rose 1.33% after a previous downward correction. In addition to liquidity pressure, the coffee market is also facing conflicting information regarding supply from the two key producing countries, Brazil and Vietnam.
In Brazil, forecasts for Arabica coffee production in the 2025-2026 crop year are highly volatile. Neuman Gruppe estimates production could reach 40 million bags, far exceeding the 34.4 million bags projected by Volcafe just one day earlier, after Volcafe recently revised its forecast down by 11 million bags. Expana, a research agency, predicts a slight increase in Brazilian coffee production in the 2025-2026 crop year, but still not reaching the 70 million bag mark (equivalent to 60 kg/bag).
In Vietnam, many organizations are offering more positive assessments of coffee production for the 2024-2025 crop year. However, low export volumes in the early part of the crop year are creating concerns about supply shortages. This is contributing to maintaining high coffee prices.
