Coffee price today December 29, 2024: Sharp decline
Today's domestic coffee price, December 29, is at 120,300 - 121,000 VND/kg, a sharp decrease of 1,200 to 1,300 VND/kg compared to yesterday.
Domestic coffee prices today
Specifically, today's coffee price in Dak Lak decreased by 1,200 VND/kg, reaching 120,800 VND/kg.
Coffee prices today in Lam Dong also decreased by 1,200 VND/kg, reaching 120,300 VND/kg.
Similarly, today's coffee price in Gia Lai decreased by 1,200 VND/kg, reaching 120,800 VND/kg.
Today's coffee price in Dak Nong has the highest price when it decreased by 1,300 VND/kg, reaching 121,000 VND/kg.
Domestic coffee prices are facing disadvantages as international coffee prices fall. However, Vietnamese farmers are not currently under pressure to sell their coffee thanks to their strong finances and ability to store coffee for a long time.
Moreover, from now until April 2025, Vietnam will still be the main source of coffee for the world, while other countries have not yet entered the harvest season.
According to the agricultural market report of the Import-Export Department (Ministry of Industry and Trade), the progress of coffee harvesting in the Central Highlands provinces in mid-December 2024 was severely affected by widespread unseasonal rains. Heavy rainfall at this time is causing concerns about coffee output for the next crop year.
World coffee prices today
At the end of the most recent trading session, the price of Robusta coffee in London for delivery in March 2025 decreased by 88 USD/ton, at 4,953 USD/ton, and for delivery in May 2025 decreased by 69 USD/ton, at 4,884 USD/ton.
Arabica coffee prices for March 2025 delivery decreased by 2 cents/lb, to 322.65 cents/lb, and for May 2025 delivery decreased by 2.1 cents/lb, to 317.6 cents/lb.
After the Christmas holiday, coffee prices on both exchanges weakened. According to expert Nguyen Quang Binh, the main reason was that speculators increased their selling to take profits after a year of making large profits from coffee. This pushed coffee prices on both exchanges down in the last sessions of the year.
In addition to speculation, increased coffee supply from the harvest in Vietnam and a strong US dollar have also contributed to the decline in coffee prices. These factors have had a strong impact on the coffee market recently.
In 2023, coffee prices increased by 70%, and 2024 continued to witness strong fluctuations in both domestic and international markets. Coffee prices continuously set new records, currently nearly double the level at the beginning of the year. The main reason is that the supply from major producing countries such as Vietnam and Brazil has decreased significantly.
