Coffee prices today 12/9/2024: Sharp drop in a volatile week
Today, December 9, domestic coffee prices are at 123,000 - 124,000 VND/kg. A decrease of 6,000 - 6,500 VND/kg compared to last week. In the world market, robusta prices also decreased by 4.7% while arabica increased by 3.85%.
Domestic coffee prices today
Specifically, today's coffee price in Dak Lak decreased by 6,000 VND/kg compared to the beginning of last week, reaching 124,000 VND/kg.
Coffee prices today in Lam Dong also decreased by 6,500 VND/kg compared to the beginning of last week, reaching 123,000 VND/kg.
Similarly, today's coffee price in Gia Lai decreased by 6,000 VND/kg compared to the beginning of last week, reaching 124,000 VND/kg.
Coffee prices today in Dak Nong are still at their highest level, down 6,500 VND/kg compared to the beginning of last week, reaching 124,000 VND/kg.
In the Central Highlands, coffee prices fell sharply by 17%, equivalent to VND22,000/kg, in just the first three days of the week from December 2 to December 4. However, coffee prices recovered significantly soon after, increasing by 14-15%, equivalent to VND15,500-16,000/kg on the weekend.
Despite the strong recovery, the market still could not make up for all the losses from the beginning of the week. At the end of the weekend trading session, domestic coffee prices decreased by about 6,000 - 6,500 VND/kg compared to the previous week, fluctuating between 123,000 - 124,000 VND/kg.
December is the peak coffee harvest season in Vietnam, accounting for about 50% of the total crop output (from October to January). Traditionally, this is the time when coffee prices tend to decrease.
However, the unusual fluctuations in the first week of December have created unpredictability in the market. With many farmers having accumulated funds and not under pressure to sell immediately to cover expenses, price developments in the coming period promise to continue to be complicated and unpredictable.
World coffee prices today
At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery increased by 258 USD/ton compared to yesterday, at 5,153 USD/ton, and for January 2025 delivery increased by 243 USD/ton compared to yesterday, at 5,116 USD/ton.
Arabica coffee prices for December 2024 delivery increased by 16.75 cents/lb compared to yesterday, at 330.25 cents/lb, and for March 2025 delivery increased by 16.30 cents/lb compared to yesterday, at 327.60 cents/lb.
After robusta coffee prices hit a new record and arabica hit a near 50-year peak last week, the market has seen a significant correction.
At the beginning of the week, speculators started selling to lock in profits, causing the price of robusta coffee in London for delivery in January 2025 to plummet by $575/ton in just the session on December 2. Similarly, the price of arabica coffee on the New York floor also fell by 22 US cents/pound.
Despite the pressure, the market gradually recovered over the weekend, helping to reduce losses. On the London exchange, the price of Robusta coffee for January 2025 delivery ended the week at $5,153/ton, down 4.7% ($256/ton) compared to the end of the previous week.
In contrast, the price of Arabica coffee on the New York floor for March 2025 delivery increased by 3.85% (12 US cents/pound), reaching 330.25 US cents/pound, showing the differentiation between the two types of coffee.
The market recovery was supported by several key factors. A weaker US dollar helped boost prices, while heavy rains in Vietnam slowed the coffee harvest. In addition, the outlook for Brazil’s next crop was less optimistic, contributing to reducing supply pressure.
