Coffee price today December 28, 2024: Continues to increase, decoding why coffee prices remain high
Today's domestic coffee price, December 28, 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 500 VND/kg, reaching 122,000 VND/kg.
Coffee prices today in Lam Dong also increased by 500 VND/kg, reaching 121,500 VND/kg.
Similarly, today's coffee price in Gia Lai increased by 600 VND/kg, reaching 122,000 VND/kg.
Today's coffee price in Dak Nong has the highest price when it increased by 600 VND/kg, reaching 122,300 VND/kg.
According to the 2024 summary report, the country's coffee area is 718,000 hectares, with an output of 1.95 million tons, down 0.3% over the previous year.
Coffee exports fell sharply by 18.8% to 1.32 million tons. However, thanks to high coffee prices, export value reached a record 5.48 billion USD, up 29.1% over the same period last year.
Vietnam's high coffee output is not expected to have much impact on current coffee prices.
According to the International Coffee Organization (ICO), global green coffee exports increased by 11.8%, with a coffee surplus of up to 1 million tons, but coffee prices remained at an all-time high.
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 decreased by 38 USD/ton, at 5,003 USD/ton, and for delivery in May 2025 decreased by 16 USD/ton, at 4,937 USD/ton.
Arabica coffee prices for March 2025 delivery decreased by 0.6 cents/lb, to 324.05 cents/lb, and for May 2025 delivery decreased by 0.5 cents/lb, to 319.2 cents/lb.
Arabica coffee prices fell sharply due to rising inventories and a weaker Brazilian currency against the US dollar. The recent rally to record highs and the weakening of the real have prompted selling by Brazilian producers.
Supply in Vietnam increased due to rains in key coffee harvest areas, helping the market maintain its upward momentum. However, coffee trading remained quiet, with harvests in key growing regions hampered by irregular rains.