Domestic and world coffee prices increased sharply on December 7
Today's coffee price on December 7, 2024 on the world market, at 4:30 am, is updated on the Vietnam Commodity Exchange MXV (world coffee prices are continuously updated by MXV, matching the world exchanges, the only channel in Vietnam that continuously updates and links with the world exchanges). Today's online coffee prices of the three main coffee futures exchanges ICE Futures Europe, ICE Futures US and B3 Brazil are continuously updated by Y5 Cafe during the trading hours of the exchange, updated as follows:
At the end of the trading session, the price of Robusta coffee on the London floor at 4:30 a.m. on December 7, 2024 continued to increase sharply, increasing from 233 - 258 USD/ton, fluctuating from 4,779 - 5,193 USD/ton. Specifically, the delivery period for January 2025 is 5,153 USD/ton (up 258 USD/ton); the delivery period for March 2025 is 5,116 USD/ton (up 243 USD/ton); the delivery period for May 2025 is 5,065 USD/ton (up 238 USD/ton) and the delivery period for July 2025 is 5,000 USD/ton (up 233 USD/ton).
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| Domestic coffee prices increased sharply on December 7, 2024. Photo: Hoang Thien Nga. |
Similar to the London floor, the price of Arabica coffee on the New York floor on the morning of December 7, 2024 also increased sharply, increasing from 13.05 - 16.75 cents/lb, fluctuating from 300.70 - 331.70 cents/lb. Specifically, the delivery period for March 2025 is 330.25 cents/lb (up 16.75 cents/lb); the delivery period for May 2025 is 327.60 cents/lb (up 16.30 cents/lb); the delivery period for July 2025 is 321.95 cents/lb (up 15.40 cents/lb) and the delivery period for September 2025 is 314.15 cents/lb (up 13.05 cents/lb).
At the end of the trading session, the price of Brazilian Arabica coffee on the morning of December 7, 2024 was dominated by green, with prices increasing sharply, from 14.90 - 21.55 USD/ton depending on the delivery terms. Specifically, the delivery term for December 2024 was 405.00 USD/ton (up 14.95 USD/ton); the delivery term for March 2025 was 408.95 USD/ton (down 0.35 USD/ton); the delivery term for May 2025 was 409.15 USD/ton (up 21.55 USD/ton) and the delivery term for July 2025 was 401.50 USD/ton (up 20.35 USD/ton).
Meanwhile, domestic coffee prices updated at 4:30 a.m. on December 7, 2024 also continued to increase sharply compared to the previous trading session, an increase of about VND 5,600/kg. Currently, the average coffee purchase price in the Central Highlands provinces is VND 120,100/kg.
Specifically, the coffee purchase price in Gia Lai province is at 120,000 VND/kg; the coffee purchase price in Dak Nong province is 120,200 VND/kg and Dak Lak has the highest price of 120,000 VND/kg; the price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at 118,500 VND/kg.
Coffee prices today (December 7) in Dak Lak province; in Cu M'gar district, coffee was purchased at 120,100 VND/kg, and in Ea H'leo district, Buon Ho town, it was purchased at 120,000 VND/kg.
Experts predict that coffee prices tomorrow, December 8, 2024, will continue to increase strongly.
According to statistics, today, December 7, is the third consecutive day that world coffee prices have increased sharply by three digits, the increase has regained what was lost in previous deep declines. Meanwhile, domestic coffee prices have also witnessed the second consecutive day of strong price increases.
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| Experts say that tomorrow, December 8, 2024, domestic and world coffee prices will continue to increase strongly. |
According to experts, the price of coffee in the Central Highlands increased faster than the world price due to many different reasons, including speculation when coffee prices decreased. Specifically, some businesses took advantage of the coffee price reduction at the beginning of the week to buy coffee to pay off contract debts and "hold on to goods" to make a profit.
In addition, experts also commented that the global coffee market trend is still low supply compared to the increasing consumer demand. Moreover, the current harvest in many places has not yet reached its peak, reaching only about 30% and farmers are not under economic pressure, so the recent price drop did not cause a sell-off. Therefore, when the world market recovered, domestic prices increased sharply again.
According to Reuters, despite the peak harvest season, domestic coffee prices in Vietnam are still rising due to high demand and limited supply. In the two months since the new harvest began, farmers in the Central Highlands have only harvested about 20% of the coffee output.
Experts say that farmers are not facing much financial pressure at present thanks to stable income from other crops such as durian and pepper, so they are not in a hurry to sell their products and continue to wait for coffee prices to increase. In addition, speculators are also "holding on to goods" to push up prices for profit.
Therefore, experts predict that tomorrow, December 8, 2024, domestic and world coffee prices will continue to increase strongly.
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