Looking back at the 2023-2024 crop year, Vietnam's coffee exports have reached a new milestone. Although export volume decreased by over 12% to 1.46 million tons, the turnover increased by over 33% to reach 5.43 billion USD. This is the highest export turnover in a crop year ever and the first time coffee exports in a crop year have exceeded the 5 billion USD mark.
Coffee price today 12/23/2024
Last week, the world coffee price for robusta coffee for delivery in January 2025 decreased by 98 USD/ton; the price for arabica coffee for delivery in March increased by 5.5 cents/lb. In contrast to the previous week, the price for robusta coffee for delivery in January 2025 increased by 56 USD/ton; the price for arabica coffee for delivery in March decreased by 10.75 cents/lb.
Domestic coffee prices decreased by an average of 3,000 - 4,000 VND/kg last week, currently trading in the range of 122,500 - 124,000 VND/kg.
According to the Vietnam Coffee and Cocoa Association (Vicofa), the new coffee harvest has begun since November, and Vietnam's coffee output this year is expected to reach about 1.6 million tons. In this crop, Vietnam's domestic coffee consumption is forecast to reach 270,000 - 300,000 tons. The increase in domestic demand combined with low production output could significantly affect the supply of raw materials for export.
Meanwhile, Brazil has now finished its coffee harvest, and coffee growers in this country are currently limiting sales and waiting to see how the next crop will produce after flowering. Therefore, with the world's second position in exporting robusta coffee, the coffee market from now until the end of the first quarter of 2025 depends on coffee growing countries in the Northern Hemisphere, especially Vietnam.
That is why, even though it is the harvest season, domestic coffee prices are still on the rise. Farmers this year are in no hurry to sell due to their stable financial situation thanks to good revenue from other agricultural products with good prices such as durian, pepper, etc.
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| Domestic coffee prices at the end of last week (December 22) decreased by 700 - 1,000 VND/kg in some key purchasing localities. (Source: Coffeeam) |
According to World & Vietnam , at the end of this weekend's trading session (December 20), the price of robusta coffee on the ICE Futures Europe London exchange continued to decrease, with the January 2025 delivery period decreasing by 50 USD, trading at 5,011 USD/ton. The March 2025 delivery period decreased by 44 USD, trading at 5,002 USD/ton. The average trading volume was low.
Arabica coffee prices on the ICE Futures US New York exchange increased, with the March 2025 delivery term up 1.25 cents, trading at 325.00 cents/lb. Meanwhile, the May 2025 delivery term increased 1 cent, trading at 319.30 cents/lb. Trading volume was high on average.
Domestic coffee prices at the end of last week (December 22) decreased by 700 - 1,000 VND/kg in some key purchasing localities. Unit: VND/kg
(Source: giacaphe.com) |
Coffee exports in the first 11 months of 2024 reached nearly 1.2 million tons with a turnover of 4.84 billion USD; although down 15.4% in volume, export value increased 32.8% over the same period in 2023.
Coffee exports grew in all markets in the group of 15 largest export markets; in which, the strongest increase was in the two markets of Malaysia and the Philippines, both of which increased more than twice. Germany, Italy and Spain are the three largest coffee consuming markets of Vietnam.
The Vietnam Coffee and Cocoa Association (Vicofa) said that Vietnam's coffee exports still have many advantages thanks to increased supply due to the new harvest season of 2024 - 2025 and high export prices. It is forecasted that the whole year's coffee export turnover will set a record at 5.5 billion USD.
Although the export price of coffee is high, at times trading at nearly 5,000 USD/ton, industry experts say that the price of Vietnamese robusta is too high, making importers cautious. Buyers and roasters are also more cautious in placing orders. In the short term, they still need Vietnamese robusta, because consumers are familiar with the taste. But if the high price persists, importers may change and it will affect exports. A domestic coffee price of around 100,000 VND/kg will harmonize the interests of all parties and help Vietnamese coffee develop sustainably.
We should not expect agricultural prices to rise too high, because when prices exceed the world's general consumption, they will change their consumption habits. The price trend should be stable. This is the time to move towards stable prices and this is also beneficial for growers, processing and exporting enterprises as well as in line with general consumer demand. Every year, at the time of the crop, the number of orders is usually very high, but this year it is the opposite. Buyers also buy short-term, only when there is demand to buy instead of buying long-term contracts like before.
The European Parliament (EC) has just officially approved a proposal to postpone the implementation of the EU Deforestation Regulation (EUDR) for 12 months. Accordingly, large import-export enterprises must comply with the EUDR from December 30, 2025, while micro and small enterprises have a deadline of June 30, 2026.
Vietnamese coffee will be strongly affected by the above regulation. According to experts, with the delay in implementation, coffee producing countries, including Vietnam, will have more time to fully comply with the new standards. At the same time, importing countries in the EU will not need to import massively by the end of 2024; supply and demand of coffee in the world market will temporarily stabilize.
Source: https://baoquocte.vn/gia-ca-phe-hom-nay-23122024-gia-ca-phe-robusta-giam-gan-100-usd-nam-dac-biet-doi-voi-ca-phe-viet-nam-chuyen-gia-lo-ngai-gia-qua-cao-298290.html
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