Coffee price today December 17, 2024: Domestic price slightly decreased
Today, December 17, domestic coffee prices are at 122,500 - 124,200 VND/kg. Coffee prices decreased slightly by 1,000 VND/kg compared to yesterday. Arabica coffee prices reached their highest level in nearly 50 years.
Domestic coffee prices today
Specifically, today's coffee price in Dak Lak decreased by 1,000 VND/kg compared to yesterday, reaching 124,000 VND/kg.
Coffee price today in Lam Dong also decreased by 1,000 VND/kg compared to yesterday, reaching 122,500 VND/kg.
Similarly, today's coffee price in Gia Lai decreased by 1,000 VND/kg compared to yesterday, reaching 124,000 VND/kg.
Coffee prices today in Dak Nong are still at the highest level, down 1,000 VND/kg compared to yesterday, reaching 124,200 VND/kg.
Dak Nong is facing difficulties in coffee replanting 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-productivity coffee gardens. Since 2021, the province has accelerated the implementation of the 2021-2025 replanting project, developed policies, and integrated many support projects.
However, the replanting area has not reached the target. From 2021 to now, only 7,456 hectares have been replanted out of the total plan of 17,892 hectares.
The main reasons are high investment costs (seeds, fertilizers, pesticides, care) and the sharp increase in coffee prices, making farmers reluctant to destroy old gardens. In addition, climate change and erratic weather make it difficult to graft and improve coffee.
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 18 USD/ton compared to yesterday, at 5,227 USD/ton, and for January 2025 delivery increased by 19 USD/ton compared to yesterday, at 5,203 USD/ton.
Arabica coffee price for December 2024 delivery increased by 6.45 cents/lb compared to yesterday, at 325.95 cents/lb, March 2025 increase decreased by 6.10 cents/lb compared to yesterday, at 323.15 cents/lb.
The market is still paying much attention to the price movements of coffee, although prices fluctuated somewhat last week. In particular, the price of Arabica coffee decreased by 3.26% compared to the reference level, although it had reached a new historical peak during the week. In contrast, the price of Robusta coffee increased by 1.33% after the previous downward adjustment period. Not only is the coffee market under pressure from liquidity, it is also facing conflicting information about the supply from the two key producing countries, Brazil and Vietnam.
In Brazil, the forecast for Arabica coffee production in the 2025-2026 crop year is fluctuating sharply. Neuman Gruppe estimates that production could reach 40 million bags, far exceeding the 34.4 million bags that Volcafe gave just a day ago, after Volcafe revised down its previous forecast by 11 million bags. Expana research agency predicts that Brazil's coffee production in the 2025-2026 crop year will increase slightly, but still not reach the 70 million bag mark (equivalent to 60 kg/bag).
In Vietnam, many organizations are giving more positive assessments about coffee production in the 2024-2025 crop year. However, the export volume in the early stages of the crop year is still low, creating concerns about supply shortages. This contributes to maintaining high coffee prices.
