Coffee prices today, November 27, 2024: Continuing the strong upward trend.
Domestic coffee prices today, November 27th, are at 121,000 - 121,900 VND/kg, a further increase of 1,600 to 2,200 VND/kg compared to yesterday. World coffee prices have surged, surpassing the record high of 5000 USD/ton.
Domestic coffee prices today
Specifically, the price of coffee in Dak Lak today increased by 1,600 VND/kg, reaching 121,600 VND/kg.
Coffee prices in Lam Dong also increased by 2,200 VND/kg today, reaching 121,000 VND/kg.
Similarly, today's coffee price in Gia Lai increased by 1,700 VND/kg, reaching 121,600 VND/kg.
Today's coffee price in Dak Nong reached its highest level, increasing by 1,900 VND/kg to 121,900 VND/kg.
World coffee prices today
At the close of the most recent trading session, Robusta coffee prices in London for November 2024 delivery rose by $61/ton to $5,171/ton, and for January 2025 delivery rose by $74/ton to $5,110/ton.
Arabica coffee prices for December 2024 delivery increased by 2.80 cents/lb to 307.60 cents/lb, and for March 2025 delivery increased by 2.90 cents/lb to 305.15 cents/lb.
Coffee prices rose due to concerns about bad weather in Vietnam and Brazil. A prolonged period of hot, dry weather has affected Arabica coffee, and although October rains helped the plants flower, there is still a risk of them not setting fruit.
Strong arabica exports have led to a projected end-of-season coffee inventory in Brazil of only 1.2 million bags, a 26% decrease compared to the previous year. Production for the 2024-2025 crop year has also been revised downwards to 66.4 million bags.
Heavy rains destroyed 15% of Costa Rica's coffee crop, causing $45 million in losses. Flooding and landslides, caused by the storm, threaten the country's renowned arabica coffee industry.