Coffee price today December 19, 2024: Raw coffee prices increase, coffee shops reduce profits
Today's domestic coffee price, December 19, is at 122,700 - 124,200 VND/kg. Coffee prices have decreased by 1,000 VND/kg compared to yesterday. Many coffee shops are accepting lower profits to retain customers at the end of the year, even though the price of raw coffee has increased by 20%.
Domestic coffee prices today
Specifically, today's coffee price in Dak Lak decreased by 800 VND/kg compared to yesterday, reaching 124,000 VND/kg.
Coffee prices today in Lam Dong also decreased by 500 VND/kg compared to yesterday, reaching 122,700 VND/kg.
Similarly, today's coffee price in Gia Lai decreased by 1,000 VND/kg compared to yesterday, reaching 123,800 VND/kg.
Coffee prices today in Dak Nong are still at the highest level, down 800 VND/kg compared to yesterday, reaching 124,200 VND/kg.
The end of the year is the time when tea and coffee shops expect high revenue, but the increase in the price of green coffee beans and ground coffee has made many shop owners worried.
Nguyen Anh Son, owner of Anh Son Coffee Shop in Tan Binh District (HCMC), said that his shop is small in scale, so raw materials are usually imported weekly or monthly. Since mid-year, he has clearly felt the impact of rising coffee prices, causing profits per cup of coffee sold to decrease.
"Currently, each kilogram of coffee beans has increased by VND10,000 compared to October. At the beginning of the year, I increased the price by VND2,000 per cup of coffee, so at this time I cannot increase it any further, so I have to accept a decrease in profit," said Mr. Son.
Representatives of the Global Trade Link Company (Meet More) also said that they are under pressure from rising coffee bean prices. In early December, the price of good quality raw materials that they bought was 180,000 VND/kg, a sharp increase compared to the beginning of the year and almost double the average level of last year.
World coffee prices today
At the end of the most recent trading session, the price of Robusta coffee in London for January 2025 delivery increased by 5 USD/ton compared to yesterday, at 5,220 USD/ton, and for March 2025 delivery increased by 25 USD/ton compared to yesterday, at 5,193 USD/ton.
Arabica coffee for March 2025 delivery increased by 6.15 cents/lb from yesterday to 331.10 cents/lb, and May 2025 decreased by 5.10 cents/lb from yesterday to 327.00 cents/lb.
A sharp rise in coffee futures prices has increased financing costs for the industry, forcing two major exporters in Brazil to request debt renegotiations.
In Vietnam, unfavorable weather and slow exports have raised concerns about supply disruptions, with coffee output forecast to fall 5% in the 2024-25 crop year.
Mr. Mera predicts that coffee prices could continue to rise further, and that coffee producers will have to pass on these increased costs to selling prices to reduce the impact on profits.
