Coffee price today January 4, 2025: Sharp increase, farmers sell more coffee before Lunar New Year
Today's domestic coffee price, January 4, is at 121,300 - 122,200 VND/kg, a sharp increase in the first trading session of the new year.
Domestic coffee prices today
Domestic coffee prices today in the Central Highlands region increased sharply by 2,500 - 2,700 VND/kg, fluctuating between 121,300 - 122,200 VND/kg.
Accordingly, after adjusting up 2,700 VND/kg, traders in Dak Nong province are purchasing coffee at the highest price of 122,200 VND/kg.
Following that, coffee prices in Dak Lak province stood at 122,000 VND/kg, up 2,500 VND/kg.
Similarly, coffee prices in Gia Lai province also increased by VND2,500/kg and were traded at VND121,900/kg.
In Lam Dong province, coffee prices increased by VND2,600/kg to VND121,300/kg.
Farmers tend to sell more coffee before Tet, according to Nguyen Ngoc Quynh, deputy director of the Vietnam Commodity Exchange. Although financial pressure this year is not as high as in previous years, export volumes are expected to increase in the first half of January.
Coffee harvest in Vietnam is underway, and farmers are starting to stockpile new crop robusta, I & M Smith said. The traditional surge in sales ahead of the Lunar New Year is continuing, as farmers sell coffee to prepare financially for the holiday.
Thanks to high robusta prices on the London futures market, Vietnamese farmers are in better financial shape. This may make selling coffee before Tet more carefully considered, instead of selling it in bulk as before.
Preparations for Tet usually begin a week before the main holiday, so business activity in Vietnam is expected to slow down in the week leading up to January 29, as people focus on celebrating the new year.
World coffee prices today
Coffee prices on the world market also fluctuate:
Robusta Coffee (London):
Delivery March 2025: Down 2 USD/ton, to 5,054 USD/ton.
Delivery in May 2025: Down 8 USD/ton, to 4,969 USD/ton.
Arabica Coffee (New York):
March 2025 delivery: Down 4.3 cents/lb, to 322.55 cents/lb.
May 2025 delivery: Down 3.7 cents/lb, to 318.40 cents/lb.
This year, Vietnam's agricultural, forestry and fishery exports are estimated to reach 62.5 billion USD, of which coffee alone contributes nearly 5.5 billion USD with a total export volume of more than 1.3 million tons. This is an important milestone, marking a great success for the Vietnamese coffee industry when it surpassed the 5 billion USD mark for the first time in both the crop year and the calendar year.
Coffee has become Vietnam’s third agricultural product, after vegetables and rice, to achieve an export turnover of over 5 billion USD. The sharp increase in coffee export prices is the main factor helping this industry record impressive achievements. This is also the agricultural product with the highest price increase among our country’s main export products.
Dak Lak is the province with the largest coffee growing area in the Central Highlands with more than 210,000 hectares, with an average output of over 500,000 tons/year. However, the 2024-2025 crop year is expected to see a 5-10% decrease in output due to thousands of hectares of coffee being affected by drought in the 2024 dry season. However, the current high coffee prices still bring great joy to farmers as their incomes have improved significantly.
According to agricultural experts, if coffee prices remain stable at over VND120,000/kg in the next few years, not only will the lives of ethnic minorities improve, but it will also motivate them to confidently invest in coffee long-term. This will contribute to the sustainable development of Vietnam's coffee industry in the future.