Coffee price today December 22, 2024: World coffee prices move in opposite directions
Today's domestic coffee price, December 22, is at 120,500 - 121,300 VND/kg. World coffee prices are mixed as Robusta continues to fall to just over 5,000 USD/ton, while Arabica bounces back.
Domestic coffee prices today
Specifically, today's coffee price in Dak Lak decreased by 1,000 VND/kg compared to yesterday, reaching 121,000 VND/kg.
Coffee prices today in Lam Dong also decreased by 1,000 VND/kg compared to yesterday, reaching 120,500 VND/kg.
Similarly, today's coffee price in Gia Lai decreased by 800 VND/kg compared to yesterday, reaching 121,000 VND/kg.
Coffee prices today in Dak Nong are still at the highest level, down 700 VND/kg compared to yesterday, reaching 121,300 VND/kg.
Mr. Nguyen Ngoc Luan, General Director of Meet More Coffee Brand, said that he previously predicted that coffee prices would increase sharply until Tet, when market demand increased. However, at this point, he believes that coffee prices will not have a breakthrough but will remain stable or decrease due to weak consumption.
The most important factor is that the European Union (EU) has officially postponed the implementation of the EU Deforestation and Forest Degradation Regulation (EUDR) for 1 year, and some experts predict that it may be postponed further. This has caused the coffee supply chain to return to normal and prices to cool down.
Farmers are still the "very safe" group in this coffee crop, while trade, production and retail groups have to "think hard" to ensure profits.
World coffee prices today
At the end of the most recent trading session, the price of Robusta coffee in London for January 2025 delivery decreased by 50 USD/ton compared to yesterday, at 5,011 USD/ton, and for March 2025 delivery decreased by 44 USD/ton compared to yesterday, at 5,002 USD/ton.
Arabica coffee prices for March 2025 delivery increased by 1.25 cents/lb compared to yesterday, at 325.00 cents/lb, and for May 2025 delivery increased by 1 cent/lb compared to yesterday, at 319.30 cents/lb.
One positive factor for arabica coffee prices is that Brazil’s real recovered further from Wednesday’s record low against the dollar on Friday. A stronger real reduces the incentive for Brazilian coffee producers to export.
However, the rise in arabica prices was somewhat limited as ICE-monitored arabica coffee inventories rose to a 2-1/2-year high on December 19, reaching 981,565 bags.
Robusta coffee was also under pressure as inventories rose sharply to a four-week high of 3,912 lots, while traders focused on the ongoing harvest in Vietnam.
