Coffee price today January 9, 2025: High increase, farmers feel more secure in production
Today, January 9, domestic coffee prices are at 120,500 - 121,500 VND/kg, continuing to increase compared to yesterday. The increase in coffee prices has helped many coffee farmers feel secure in production.
Domestic coffee prices today
Domestic coffee prices in the Central Highlands region today increased slightly from 200 to 500 VND/kg, fluctuating between 120,500 - 121,500 VND/kg.
Accordingly, traders in Dak Nong province are purchasing coffee at the highest price of 121,500 VND/kg. A slight increase of 500 VND/kg compared to yesterday.
Coffee price in Dak Lak province stood at 121,300 VND/kg, a slight increase of 300 VND/kg.
Similarly, coffee prices in Gia Lai province increased by VND400/kg and were traded at VND121,200/kg.
In Lam Dong province, coffee prices increased by VND200/kg to VND120,500/kg.
2024 is set to be a banner year for Vietnam’s coffee exports, with record revenues. However, unseasonal rains in Vietnam have delayed the 2024-2025 harvest, raising concerns about crop quality.
Accordingly, today's coffee prices in the country and in the world have recorded high price increases, pushing the trading floor to be flooded with green. The information about the increase in coffee prices has made many coffee farmers feel less worried and more confident in production.
Domestic coffee prices are forecast to continue to increase slightly due to the impact of coffee prices on the floor.
World coffee prices today
Coffee prices on the world market also fluctuate:
Robusta Coffee (London):
Delivery in March 2025: Down 60 USD/ton, down to 4,959 USD/ton.
Delivery in May 2025: Down 53 USD/ton, down to 4,877 USD/ton.
Arabica Coffee (New York):
March 2025 delivery: Up 0.3 cent/lb, to 320.8 cent/lb.
May 2025 delivery: Up 0.5 cent/lb, to 317.8 cent/lb.
According to coffee market expert Nguyen Quang Binh, coffee is now an extremely essential commodity globally due to its popularity. Coffee is grown in about 40 countries around the world but is consumed globally so it is very price sensitive.
In addition, because the USD is used for transactions on the two main coffee exchanges, London and New York, fluctuations in the USD price and the interest rate of the US Federal Reserve (FED) both affect coffee prices.
With the USD, when the price increases, exporting countries will increase sales to take advantage of the exchange rate difference. Due to the large sales volume, the price of coffee on the exchanges, calculated in USD, will also decrease.
Regarding the future price of coffee, Mr. Nguyen Quang Binh said that previously, Brazil had a drought, fearing a serious crop failure, so prices increased very high. However, recently, Brazil and South America have had widespread rain, so the forecast for crop failure is not as severe as previously predicted. This will help coffee prices cool down.
