Coffee price today December 20, 2024: Slight decrease of 200 VND, EU Parliament agrees to postpone EUDR
Today's domestic coffee price, December 20, is at 122,500 - 124,000 VND/kg. Coffee prices across the board decreased slightly by 200 VND/kg compared to yesterday. The EU Parliament agreed to postpone the EUDR, and coffee prices on the floor fluctuated in different directions.
Domestic coffee prices today
Specifically, today's coffee price in Dak Lak decreased by 200 VND/kg compared to yesterday, reaching 123,800 VND/kg.
Coffee prices today in Lam Dong also decreased by 200 VND/kg compared to yesterday, reaching 122,500 VND/kg.
Similarly, today's coffee price in Gia Lai decreased by 200 VND/kg compared to yesterday, reaching 123,600 VND/kg.
Coffee prices today in Dak Nong are still at the highest level, down 200 VND/kg compared to yesterday, reaching 124,000 VND/kg.
In the coming time, experts believe that domestic coffee prices are likely to decline. The main reason is the impact from the international market, when financial speculators are gradually withdrawing capital from this sector, causing prices on trading floors to be under pressure to adjust.
Some businesses said that in fact, the volume of physical coffee trading is quite limited. The recent strong fluctuations on the New York and London futures exchanges have largely come from financial speculation, and now this group of speculators is taking short-term profits.
Therefore, the sudden increase in coffee prices recently does not necessarily reflect a serious shortage of supply, but is mainly due to financial investors pushing up prices to wait for a chance to take profits.
At the same time, this time coincides with the coffee harvest period, which supplements domestic supply and increases downward pressure on prices. Combining the factors of price adjustments in the international market and more abundant domestic supply, domestic coffee prices are unlikely to avoid a downward trend in the near future.
World coffee prices today
At the end of the most recent trading session, the price of Robusta coffee in London for January 2025 delivery increased by 55 USD/ton compared to yesterday, at 5,260 USD/ton, and for March 2025 delivery increased by 53 USD/ton compared to yesterday, at 5,192 USD/ton.
Arabica coffee price for March 2025 delivery increased by 7.20 cents/lb compared to yesterday, at 339.85 cents/lb, decreased by May 2025, up 6.10 cents/lb compared to yesterday, at 333.50 cents/lb.
On 17 December, the European Parliament adopted a proposal from the European Council to extend the deadline for the EU Deforestation Regulation (EUDR) by 12 months. This is an important step to ensure that stakeholders have enough time to prepare and adapt to the new requirements.
In addition to agreeing to the delay, the European Parliament also asked the European Commission to commit to completing an information system for regulators and traders, which must be fully operational by 30 June 2025. At the same time, the European Commission must also introduce a risk assessment methodology for countries and regions involved in complying with the regulation.
The proposal to postpone the application of the EUDR is considered the final procedural step from the European Parliament. The official text is expected to be published by the European Council in the coming days.