World coffee prices suddenly turned down
Coffee prices today December 18, 2024 on the world market, at 4:30 am updated on the Vietnam Commodity Exchange MXV (world coffee prices are continuously updated by MXV, matching world exchanges, the only channel in Vietnam that continuously updates and links to world exchanges).
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| Foreigners experience coffee picking in Gia Lai. Photo: Hien Mai |
Coffee prices at the three main coffee futures exchanges ICE Futures Europe, ICE Futures US and B3 Brazil are continuously updated by Y5Cafe during the trading hours of the exchange, updated as follows:
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| Robusta Coffee Price London 18/12/2024 |
At the end of the trading session, the price of Robusta coffee on the London floor at 4:30 a.m. on December 18, 2024 had a sharp decline compared to yesterday, a decrease of 14-27 USD/ton, fluctuating between 5030 - 5216 USD/ton. Specifically, the delivery period for January 2025 is 5216 USD/ton (down 14 USD/ton, equivalent to 0.27%); the delivery period for March 2025 is 5168 USD/ton (down 35 USD/ton, equivalent to 0.67%); The delivery term for May 2025 is 5,103 USD/ton (down 37 USD/ton, equivalent to 0.72%) and the delivery term for July 2025 is 5,030 USD/ton (down 27 USD/ton, equivalent to 0.53%).
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| New York Arabica Coffee Price December 18, 2024 |
Similarly, the price of Arabica coffee on the New York floor on the morning of December 18, 2024, also decreased slightly compared to the previous trading period, a decrease of 2.45 - 2.85 cents/lb, fluctuating from 308.10 - 324.95 cents/lb. Specifically, the delivery period in March 2025 is 324.95 cents/lb (down 2.45 cents/lb, equivalent to 0.75%); the delivery period in May 2025 is 321.90 cents/lb (down 2.75 cents/lb, equivalent to 0.85%); July 2025 delivery is 316.95 cents/lb (down 2.65 cents/lb, or 0.83%) and September 2025 delivery is 308.10 cents/lb (down 2.85 cents/lb, or 0.92%).
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| Brazilian Arabica Coffee Price on December 18, 2024 |
In another development, at the end of the trading session, the price of Brazilian Arabica coffee on the morning of December 18, 2024 decreased in most delivery periods, with a decrease of 3.50 - 4.35 USD/ton compared to yesterday, ranging from 394.90 - 403.00 USD/ton. Specifically, the delivery period for December 2024 was 403.00 USD/ton (down 4.35 USD/ton, equivalent to 1.07%); the delivery period for May 2025 was 401.55 USD/ton (down 3.65 USD/ton, equivalent to 0.90%) and the delivery period for July 2025 was 394.90 USD/ton (down 3.50 USD/ton, equivalent to 0.88%). In particular, the delivery period in March 2025 increased by 416.40 USD/ton (an increase of 4.45 USD/ton, equivalent to 1.08%).
Through that, we can see once again that the world coffee price is very unpredictable, immediately there is a price decrease session on all exchanges just after a price increase session at the beginning of the week yesterday, or in other words, recently there is a price increase session followed immediately by a price decrease session.
Robusta coffee traded on the ICE Futures Europe (London exchange) opens at 16:00 and closes at 00:30 (next day) Vietnam time. Arabica coffee traded on the ICE Futures US (New York exchange) opens at 16:15 and closes at 01:30 (next day) Vietnam time. For Arabica coffee traded on the B3 Brazil exchange, it will open from 19:00 – 02:35 (next day) Vietnam time.
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| Coffee beans of farmers in Gia Lai province. Photo: Hien Mai |
Domestic coffee prices increased slightly
In the domestic market, according to information from Giacaphe.com, updated coffee prices at 4:30 a.m. today, December 18, 2024, the average domestic coffee price was 124,900 VND/kg, an increase of +800 VND/kg compared to yesterday.
The highest coffee purchase price in the key regions of the Central Highlands (Dak Lak, Lam Dong, Gia Lai, Dak Nong) was recorded at 124,900 VND/kg. Specifically, the coffee price in Lam Dong was 123,200 VND/kg, an increase of +700 VND compared to yesterday's transaction price.
Meanwhile, this morning's coffee prices in Dak Lak, Gia Lai, and Dak Nong all had the same increase of +800 VND/kg compared to yesterday (Dak Lak had a price of 124,800 VND/kg, Gia Lai had a price of 124,800 VND/kg, and Dak Nong had a price of 125,000 VND/kg).
Thus, Lam Dong province is still the province with the lowest coffee purchasing price at 123,200 VND/kg, while Dak Nong province is the locality with the highest coffee purchasing market in the Central Highlands provinces as well as the whole country.
The domestic coffee prices that Giacaphe.com lists every day are calculated based on the prices of two world coffee exchanges combined with continuous surveys from businesses and purchasing agents in key coffee growing areas across the country.
Y5Cafe always tries to stay as close as possible to each region, however there will be days when the listed price does not completely match the local coffee purchase price, but Y5Cafe believes that the listed information is a valuable reference source for you.
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| Domestic coffee price list updated on the morning of December 18, 2024 |
In recent times, Vietnam’s coffee consumption market has witnessed a strong transformation, not only focusing on European countries, America and Japan, but also expanding to closer markets such as China and Southeast Asian countries. This not only creates new opportunities for the Vietnamese coffee industry but also promotes sustainable development in the field of agricultural exports.
According to statistics, in the first 9 months of 2024, China imported 190,000 tons of coffee, worth 1.026 billion USD, marking a growth of 47% in output and nearly 33% in value, corresponding to an average import price of 5,400 USD/ton.
Regarding goods from Vietnam alone, China imported 166 million USD, up 66.5% over the same period in 2023, accounting for 16.21%. Vietnam is currently the third largest coffee supplier to China, after Brazil and Colombia. This shows a significant increase in demand for Vietnamese coffee in this large market.
One notable point is the change in Chinese consumer preferences. Previously, this market mainly favored instant coffee (over 70%), brewed coffee (nearly 20%) and instant coffee (10%). However, the consumption rate has now changed to 52% for instant coffee, 36% for brewed coffee and 11% for instant coffee. The trend of preferring to drink brewed coffee is clearly increasing, reflecting the change in consumer habits.
According to experts, the Chinese coffee market still has a lot of room for growth. The average coffee consumption per capita in this country is still low compared to neighboring countries such as Japan and South Korea. The main reason is attributed to the people's habit of drinking tea. However, the current young generation is gradually switching to coffee consumption, opening up great opportunities for the coffee industry.
In addition, a notable piece of information is that the delegation from Chaoyang District, Beijing City came to work with the Vietnam Coffee and Cocoa Association (VICOFA) and expressed their desire to invite Vietnamese businesses to open the first coffee shop here, along with some support policies. This will not only help increase the presence of Vietnamese coffee in China but also open up new business cooperation opportunities between the two countries.
The positive developments in the Chinese coffee market show the strong growth potential of the Vietnamese coffee industry. This is an ideal time for Vietnamese enterprises to seize opportunities and expand the market, contributing to the sustainable development of Vietnam's agricultural sector.
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