Coffee price today December 27, 2024: Bouncing back, decoding why coffee prices are still high
Today's domestic coffee price, December 27, is at 121,000 - 121,700 VND/kg, continuing to increase by 700 to 800 VND/kg compared to yesterday. Coffee prices remain high as the market has few transactions.
Domestic coffee prices today
Specifically, today's coffee price in Dak Lak increased by 800 VND/kg, reaching 121,500 VND/kg.
Coffee prices today in Lam Dong also increased by 800 VND/kg, reaching 121,000 VND/kg.
Similarly, today's coffee price in Gia Lai increased by 800 VND/kg, reaching 121,400 VND/kg.
Today's coffee price in Dak Nong has the highest price when it increased by 700 VND/kg, reaching 121,700 VND/kg.
Coffee dealer Duong Van Dung in Dak Lak said that last year he bought more than 200 tons of coffee beans every day, but now he can only buy about 100 tons.
Mr. Tran Van Ban in Krong Pak, Dak Lak, has more than 2.5 hectares of coffee, has almost finished harvesting with a yield of about 10 tons of coffee beans. With an average price of 120,000 VND/kg, his family can earn a profit of nearly 1 billion VND. However, he has only sold about 2 tons, the rest is stored in warehouses waiting for prices to increase. In the last durian crop, his family earned more than 500 million VND, enough to cover expenses and reinvest.
In Gia Lai, Mr. Nguyen Huu Long, Director of Vietnam Coffee Academy Joint Stock Company - VCA, said that all the coffee has been harvested but farmers just dry it and store it in warehouses, waiting until after Tet to sell it. Only households without drying yards sell all the fresh coffee right after harvest. The rest sell no more than 40% of the output to cover the costs of harvesting, watering and celebrating Tet.
World coffee prices today
At the end of the most recent trading session, the price of Robusta coffee in London for delivery in March 2025 increased by 33 USD/ton, at 5,041 USD/ton, and for delivery in May 2025 increased by 18 USD/ton, at 4,953 USD/ton.
Arabica coffee prices for March 2025 delivery decreased by 2.5 cents/lb, to 326.1 cents/lb, and for May 2025 delivery decreased by 2.15 cents/lb, to 321.2 cents/lb.
According to the Import-Export Department (Ministry of Industry and Trade), in the first 10 months of this year, the US imported nearly 1.24 million tons of coffee from 103 countries and territories, worth 7.35 billion USD, up 3.5% in volume and 3.3% in value over the same period last year.
The US imported 91,800 tons of coffee from Vietnam, worth 335 million USD, down 31.5% in volume and 1.3% in value compared to the same period last year. Vietnam's coffee market share in the total US import volume decreased from 11.2% to 7.4%.
Brazil topped the list with 358.6 thousand tons, worth 1.53 billion USD, up 27.2% in volume and 28.8% in value over the same period last year. Brazil's share of total US coffee imports increased from 23.6% to 29% in the first 10 months of 2024.