Coffee price today November 30, 2024: Continued strong increase due to unexpected reasons
Today's domestic coffee price, November 30, is at 130,700 - 131,500 VND/kg, continuing to increase by 3,000 - 3,300 VND/kg compared to yesterday. This coffee price fever is considered an unexpected development.
Domestic coffee prices today
Specifically, today's coffee price in Dak Lak increased by 3,000 VND/kg, reaching 131,000 VND/kg.
Coffee prices today in Lam Dong also increased by 3,200 VND/kg, reaching 130,700 VND/kg.
Similarly, today's coffee price in Gia Lai increased by 3,100 VND/kg, reaching 131,000 VND/kg.
Today's coffee price in Dak Nong has the highest price when it increased by 3,300 VND/kg, reaching 131,500 VND/kg.
Mr. Nguyen Dac Dat, Director of Nga Thanh Trading Company Limited in Krong No District (Dak Nong), said that coffee prices in the region are continuously increasing, reflecting the world price trend.
Some businesses have contracts to deliver but are unable to purchase coffee due to slow harvests and strong price fluctuations. This forces them to push prices up to VND132,000 - 133,000/kg, but people are still not ready to sell because they expect prices to continue to rise.
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 94 USD/ton, at 5,471 USD/ton, and for January 2025 delivery decreased by 89 USD/ton, at 5,439 USD/ton.
Arabica coffee prices for December 2024 delivery decreased by 1.20 cents/lb to 321.85 cents/lb, and for March 2025 delivery decreased by 1.35 cents/lb to 319.35 cents/lb.
According to experts and businesses, the price of Robusta and Arabica coffee is currently at an all-time high. The price difference between the two types of coffee is about 1,500 USD/ton. In particular, the sharp increase in the price of Arabica coffee on the New York floor has led to an increase in the price of Robusta coffee on the market.
The coffee price fever is said to be an unexpected development stemming from the strong increase in purchasing in the Chinese market. Recently, Luckin Coffee, a major Chinese coffee company, signed an agreement with Brazilian suppliers to buy 240,000 tons of coffee per year from 2025 to 2029. This is the largest coffee bean purchase plan in Luckin Coffee’s history, putting great pressure on global supply and pushing up coffee prices.
Although the New York Stock Exchange was closed for the US Thanksgiving holiday, Arabica coffee prices had previously risen for seven consecutive sessions, reaching their highest level in nearly 50 years.
Rabobank analyst Carlos Mera said that in addition to geopolitical factors, the price increase was also influenced by concerns about Brazil’s coffee production in the 2025/26 crop year and challenges related to transportation and logistics. These factors continue to reinforce the upward momentum of coffee prices globally.
