Coffee price today January 23, 2025: Continues to increase strongly as the USD weakens
Today, January 23, domestic coffee prices are at 121,500 - 122,500 VND/kg, a sharp increase of 2,000 - 2,200 VND/kg compared to yesterday. Robusta has increased sharply for the third consecutive session.
Domestic coffee prices today
Domestic coffee prices in the Central Highlands region today increased sharply from 2,000 to 2,200 VND/kg, fluctuating between 121,500 - 122,500 VND/kg.
Accordingly, traders in Dak Nong province are purchasing coffee at the highest price of 122,500 VND/kg. A sharp increase of 2,000 VND/kg compared to yesterday.
Coffee price in Dak Lak province is 122,200 VND/kg, an increase of 2,200 VND/kg compared to yesterday.
Coffee prices in Gia Lai province also increased sharply by VND2,200/kg and were traded at VND122,200/kg.
In Lam Dong province, coffee prices increased sharply by VND2,200/kg to VND121,500/kg.
According to the Vietnam Commodity Exchange (MXV), the less optimistic supply outlook and the weakening USD/BRL exchange rate continued to be the main reasons pushing Robusta coffee prices up in yesterday's session.
After the news that the new administration of US President Donald Trump will not immediately implement strict tariffs as previously predicted, the Brazilian Real has increased in value and the USD has fallen sharply.
In yesterday's trading session, the USD/BRL exchange rate recorded a decrease of 0.64%, down to 6.03 points. The narrowing exchange rate difference may cause farmers in Brazil to limit coffee sales due to earning less foreign currency, reducing the amount of coffee exported to the world.
World coffee prices today
Coffee prices on the world market also fluctuate:
Robusta Coffee (London):
Delivery in March 2025: Up 105 USD/ton, to 5,368 USD/ton.
Delivery in May 2025: Up 92 USD/ton, to 5,309 USD/ton.
Arabica Coffee (New York):
March 2025 delivery: Up 5.35 cents/lb, to 333.15 cents/lb.
May 2025 delivery: Up 5.2 cents/lb, to 329.15 cents/lb.
Robusta coffee prices continued to rise for the third consecutive session due to concerns about supply disruptions as Vietnam, the world's largest robusta producer and exporter, is about to enter a long Lunar New Year holiday.
According to I & M Smith, there are only six days of coffee trading left in Vietnam before the Lunar New Year Eve on January 29, 2025. The domestic market in Vietnam is expected to be quiet as preparations for the Tet holiday enter a peak period, before the Tet celebration week to welcome the new year of At Ty.
The holiday is expected to last until February 2, and a quiet period in late January is expected. This includes a slowdown in most economic sectors during the holiday period, including inland shipping to ports and exports at ports.
