Coffee prices today January 7, 2025: Domestic prices increased slightly, coffee exports exceeded the 5 billion USD mark
Today's domestic coffee price, January 7, is at 120,000 - 120,500 VND/kg, a slight increase compared to yesterday. In 2024, coffee exports will exceed the 5 billion USD mark for the first time.
Domestic coffee prices today
Domestic coffee prices today in the Central Highlands region increased slightly by 100 - 200 VND/kg, fluctuating between 120,000 - 120,500 VND/kg.
Accordingly, traders in Dak Nong province are purchasing coffee at the highest price of 120,500 VND/kg.
Following that, coffee prices in Dak Lak province stood at 120,500 VND/kg, a slight increase of 200 VND/kg.
Similarly, coffee prices in Gia Lai province also increased by VND100/kg and were traded at VND120,300/kg.
In Lam Dong province, coffee prices increased by VND200/kg to VND120,000/kg.
Vietnam is known as one of the countries with the top coffee production and export output in the world, but it took nearly a century for coffee exports to exceed the 5 billion USD mark for the first time in 2024.
In the 2023-2024 coffee crop year (from October 2023 to September 2024), Vietnam exported 1.45 million tons of coffee, with a turnover of nearly 5.43 billion USD, down 12.7% in volume but up 33% in value compared to the previous crop year.
In 2024 alone, by December 15, coffee exports had reached 5.2 billion USD. Coffee became the third agricultural product after vegetables and rice to surpass the 5 billion USD mark.
In the 2023-2024 crop year, the average export price of coffee will reach an average of 3,673 USD/ton, nearly 50% higher than in the 2022/2023 crop year. With this increase, coffee is currently the agricultural product with the strongest price increase among Vietnam's key agricultural export products.
World coffee prices today
Coffee prices on the world market also fluctuate:
Robusta Coffee (London):
March 2025 delivery: Up 28 USD/ton, to 4,996 USD/ton.
Delivery in May 2025: Up 14 USD/ton, to 4,911 USD/ton.
Arabica Coffee (New York):
March 2025 delivery: Up 6.15 cents/lb, to 324.80 cents/lb.
May 2025 delivery: Up 5.55 cents/lb, to 320.45 cents/lb.
At current prices, coffee is at a high level, so speculating becomes risky. Although the upward trend of coffee prices has been predicted, not many speculators dare to buy and store goods.
Despite the big win in turnover and high profits for coffee growers, 2024 is also the year that witnessed many coffee exporting and processing enterprises struggling from the "chase" in purchasing and export prices.
Mr. Le Duc Huy, General Director of Simexco Dak Lak Company, shared that in the first months of 2024, while coffee farmers were excited because of high prices, export businesses were struggling.
The “skyrocketing” price of coffee has caused some collectors to cancel contracts and not deliver, disrupting the supply chain. Exporters are not allowed to deliver goods with signed low-priced orders, and are forced to buy at higher prices to deliver to their partners.
But when coffee prices continued to increase, exporting businesses continued to have their contracts canceled by partners, leading to losses on top of losses.
Furthermore, under pressure to maintain roasting and processing plants, many traditional Vietnamese customers have also had to shift to finding alternative sources of supply such as Brazil and India.
A representative of Nestle Vietnam said that the disruption of the raw coffee supply chain in the past two years has made purchasing domestic coffee increasingly difficult and risky.
Although always prioritizing the purchase and consumption of Vietnamese coffee, businesses must also consider importing coffee from other countries to ensure the continuous production activities of processing factories.
