Coffee prices continue to rise sharply, surpassing the peaks of previous months, making many regions in the Central Highlands excited about the harvest season. Fresh coffee prices are even higher than previous years' prices, something few people would have thought.
Coffee harvest enters peak season - Photo: N.TRI
According to information from many gardeners and agents, on the evening of November 29, fresh coffee was purchased in many places at 28,000 - 30,500 VND/kg, and green coffee at 128,000 - 132,000 VND/kg depending on the type.
This price, according to many farmers, has increased by about VND2,000 - 3,000/kg of fresh coffee and VND5,000 - 7,000/kg of green coffee compared to a few days ago, considered a record price in the history of the industry. The current price is 2 - 2.5 times higher than at the beginning of the season last year.
The price of fresh coffee is even higher than the price of green coffee in previous years, when there was a time when green coffee was under 30,000 VND/kg (on average, 4 - 4.5 kg of fresh coffee produces 1 kg of green coffee).
According to records, Lam Dong is still the province with the lowest coffee purchase price in the Central Highlands region with coffee beans purchased at the peak of 131,000 - 132,000 VND/kg, followed by Gia Lai, Dak Lak, Dak Nong. The Southeast region such as Binh Phuoc, Dong Nai has lower prices.
"The coffee crop season usually lasts from November to January of the following year, and during the main crop season (from mid-November to mid-December), prices usually decrease due to increased output. However, this year the opposite happened, so almost all gardeners were surprised," said Mr. Do Van Hung, a gardener in Gia Lai, excitedly.
Meanwhile, at noon on November 29, on the London and New York exchanges, the coffee market increased in most terms compared to previous days. Specifically, the contract for delivery in January 2025 stood at 5,565 USD/ton. The contract for delivery in March 2025 was listed at 5,528 USD/ton, up 0.58% (equivalent to 32 USD/ton).
Thus, with domestic prices, after peaking at 125,000 - 127,000 VND/kg of green coffee at the end of July, coffee prices gradually decreased to below 105,000 - 110,000 VND/kg. However, for about a month now, coffee prices have continuously increased and have now surpassed the peak of late July.
Even speaking to Tuoi Tre Online on November 29, the director of a coffee export business in Ho Chi Minh City said that many sources of information said that the price of this item would increase, possibly reaching 135,000 - 140,000 VND/kg of green coffee.
However, this person believes that the price increase is too hot and is affected by many factors, leading to unpredictable price movements, even in the short term.
"In addition to the basic seasonal factor, coffee prices are currently affected by many other factors such as politics, speculation, finance..., especially the purchasing and speculation activities of large corporations around the world. Therefore, selling or storing is something that businesses and farmers need to calculate and be careful about," he noted.
Source: https://tuoitre.vn/ca-phe-gia-tiep-tuc-tang-nong-len-muc-ky-luc-nong-dan-phan-khoi-20241129182150616.htm
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