Coffee price today December 16, 2024: Increase of 1,200 VND/kg compared to last week
Today, December 16, domestic coffee prices are at 123,500 - 125,200 VND/kg. Coffee prices increased by 500 - 1,200 VND/kg compared to last week. Robusta prices also increased slightly while Arabica prices turned to decrease.
Domestic coffee prices today
Specifically, today's coffee price in Dak Lak increased by 1,000 VND/kg compared to last week, reaching 125,000 VND/kg.
Coffee prices today in Lam Dong also increased by 500 VND/kg compared to last week, reaching 123,500 VND/kg.
Similarly, today's coffee price in Gia Lai increased by VND1,000/kg compared to last week, reaching VND125,000/kg.
Coffee prices in Dak Nong today remain at their highest level, increasing by VND1,200/kg compared to last week, reaching VND125,200/kg.
Thus, after a sharp drop last week, domestic coffee prices have recovered and increased again this week. The main reason is that unseasonal rains continue to cause further disruption to the already delayed harvest.
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 15 USD/ton compared to yesterday, at 5,209 USD/ton, and for January 2025 delivery increased by 32 USD/ton compared to yesterday, at 5,184 USD/ton.
Arabica coffee prices for December 2024 delivery decreased by 1.75 cents/lb compared to yesterday, at 318.50 cents/lb, and for March 2025 delivery decreased by 1.95 cents/lb compared to yesterday, at 317.05 cents/lb.
Robusta coffee prices rose again last week as the harvest in Vietnam continued to be delayed by adverse weather. In contrast, Arabica coffee prices plunged sharply amid concerns that the increase had been too steep and too fast.
Mr. Do Ha Nam said that Vietnam’s Robusta coffee price is currently the highest in the world. Although Robusta coffee prices have increased, roasters still have to continue buying because they cannot change their production formula.
Mr. Nam also said that when Robusta coffee prices rose too high, roasters warned that they could lose the market. However, recently in Brazil – the world’s largest coffee exporter – there was a situation where farmers and exporters refused contracts when coffee prices increased. This forced importers to return to Vietnam to find supplies.
According to him, Vietnamese coffee farmers now have enough information to decide when to sell their coffee. From now until April 2025, Vietnam will be the only country with coffee left, so farmers are in no hurry to sell to keep prices high.
Mr. Do Ha Nam affirmed that Vietnamese coffee farmers are playing an important role in regulating the market, not export enterprises.