Coffee price today November 29, 2024: Continuously increasing sharply, coffee is about to become a 'luxury' commodity
Today's domestic coffee price, November 29, is at 127,500 - 128,200 VND/kg, continuing to increase by 4,000 - 4,100 VND/kg compared to yesterday. World coffee prices have increased to their highest level since 1977.
Domestic coffee prices today
Specifically, today's coffee price in Dak Lak increased by 4,000 VND/kg, reaching 128,000 VND/kg.
Coffee price today in Lam Dong also increased by 4,000 VND/kg, reaching 127,500 VND/kg.
Similarly, today's coffee price in Gia Lai increased by 4,000 VND/kg, reaching 127,900 VND/kg.
Today's coffee price in Dak Nong has the highest price, increasing by 4,100 VND/kg, reaching 128,200 VND/kg.
Coffee prices are driven by geopolitical factors such as shipping disruptions in the Red Sea, the possibility of US tariffs and new anti-deforestation regulations from the European Union (EU) in the future, according to analysts.
World coffee prices today
At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery decreased by 49 USD/ton, at 5,484 USD/ton, and for January 2025 delivery decreased by 44 USD/ton, at 5,452 USD/ton.
Arabica coffee price for December 2024 delivery increased by 14.20 cents/lb, at 323.05 cents/lb, and for March 2025 delivery increased by 14.40 cents/lb, at 350.70 cents/lb.
In the coffee futures, the fluctuations are more "crazy". That shows that the world's coffee investors are predicting a future scarcity of this daily drink.
According to the US Department of Agriculture (USDA) in Brazil, the country's coffee output in the 2024-2025 crop year is forecast to reach 66.4 million bags (60kg), down 3.5 million bags compared to the previous forecast.
World coffee prices continue to climb as crops in Vietnam and Brazil are facing difficulties. It is forecasted that domestic coffee prices may continue to increase sharply, even returning to the historical peak of over 134,000 VND/kg as at the end of April.
