Coffee price today 11/28/2024: 3 reasons for the sudden sharp increase in coffee prices
Today's domestic coffee price, November 28, is at 123,500 - 124,100 VND/kg, continuing to increase by 2,200 to 2,500 VND/kg compared to yesterday. World coffee prices increase
Domestic coffee prices today
Specifically, today's coffee price in Dak Lak increased by 2,400 VND/kg, reaching 124,000 VND/kg.
Coffee prices today in Lam Dong also increased by 2,500 VND/kg, reaching 123,500 VND/kg.
Similarly, today's coffee price in Gia Lai increased by VND 2,300/kg, reaching VND 123,900/kg.
Today's coffee price in Dak Nong has the highest price when it increased by 2,200 VND/kg, reaching 124,100 VND/kg.
The increase in coffee prices has brought joy to coffee growers in Dak Nong. Ho Trang Long's family in Dak Mil town, Dak Mil district, owns more than 1,000 coffee trees and expects to harvest about 3.5 tons of coffee beans this year. This figure exceeds the local average. Thanks to the sharp increase in coffee prices, his family has not only had a "good harvest" but also "good prices", bringing in a significant source of income.
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 196 USD/ton, at 5,371 USD/ton, and for January 2025 delivery increased by 222 USD/ton, at 5,336 USD/ton.
Arabica coffee prices for December 2024 delivery increased by 8.75 cents/lb to 317.60 cents/lb, and for March 2025 delivery increased by 8.95 cents/lb to 315.25 cents/lb.
Coffee prices surged during the harvest season due to three main factors: concerns about the crop in Brazil and Vietnam, rising input costs, and high freight rates in the final season of the year. In addition, the global geopolitical situation has led to speculation on commodity exchanges, causing coffee prices to escalate further.
Brazil’s coffee production in 2025/26 is forecast to reach just 65.2 million bags, down 1.4% from the previous year, due to the impact of prolonged dry weather. Although October rains have helped coffee trees flower, there is still a risk of crop failure. According to forecasts, there will be a global shortage of about 2 million bags of coffee in 2024/25.
Currently, high coffee prices have caused many transactions to stagnate. Buyers are waiting for prices to fall, while sellers are waiting for prices to rise, leading to many transactions being delayed. Traders are holding back their goods, while international customers are still holding onto their stocks, making the market unstable.
