Coffee price today December 23, 2024: Sharp drop due to soaring USD
Today's domestic coffee price, December 23, is at 120,500 - 121,300 VND/kg. Coffee prices fell sharply last week due to the soaring USD, causing negative pressure on coffee products.
Domestic coffee prices today
Specifically, today's coffee price in Dak Lak decreased by 4,000 VND/kg compared to yesterday, reaching 121,000 VND/kg.
Coffee price today in Lam Dong also decreased by 3,000 VND/kg compared to yesterday, reaching 120,500 VND/kg.
Similarly, today's coffee price in Gia Lai decreased by 4,000 VND/kg compared to yesterday, reaching 121,000 VND/kg.
Coffee prices in Dak Nong today remain at their highest level, down 3,900 VND/kg compared to yesterday, reaching 121,300 VND/kg.
Coffee prices last week were affected by many factors, including rising inventories and the US dollar soaring to a two-year high, putting negative pressure on most commodities, including coffee.
The most important factor is that the European Union (EU) has officially postponed the implementation of the EU Deforestation and Forest Degradation Regulation (EUDR) for 1 year, and some experts predict it may be postponed further. This has caused the coffee supply chain to return to normal and prices to cool down.
Coffee trading in Vietnam was quiet ahead of Christmas as the new crop in the world’s biggest robusta producer was slow, partly due to rains that delayed harvesting.
World coffee prices today
At the end of the most recent trading session, the price of Robusta coffee in London for January 2025 delivery decreased by 198 USD/ton compared to the end of last week, at 5,011 USD/ton, and for March 2025 delivery decreased by 182 USD/ton compared to the end of last week, at 5,002 USD/ton.
Arabica coffee prices for March 2025 delivery increased by 5.5 cents/lb compared to the end of last week, at 325.00 cents/lb, and for May 2025 delivery increased by 2.25 cents/lb compared to the end of last week, at 319.30 cents/lb.
According to a report by Rabobank, most of Brazil's coffee growing regions experienced above-average rainfall in November, with the exception of Manhuaçu (Minas Gerais state) and Alta Floresta (Rondônia).
Despite good flowering, fruit set rates were much lower than expected, especially in Alta Mogiana (São Paulo) and Cerrado Mineiro (Minas Gerais). It was also said that it would be necessary to wait until February or March to assess the impact.
In December, rains continued in most coffee growing regions, except for the robusta growing area in Espírito Santo state.