Robusta coffee prices on the London floor, March futures increased by 125 USD, setting a new record of 5,734 USD/ton, May futures increased by 126 USD to 5,709 USD/ton and July futures increased by 114 USD to 5,625 USD/ton.
On the New York floor, Arabica coffee prices also increased sharply; March futures increased by 150.7 USD to 8,215 USD/ton, May futures increased by 149.6 USD to 8,100 USD/ton and July futures increased by 150.7 USD to 7,950 USD/ton.
Arabica coffee prices in Brazil also increased, with March futures rising slightly by 6.6 USD to 10,090 USD/ton.
Central Highlands coffee prices increased by an average of VND1,500, ranging from VND128,000 - VND128,500/kg.
In the story at the beginning of the year with Thanh Nien , "king of Vietnamese agricultural exports" - Mr. Do Ha Nam, Chairman of the Board of Directors of Intimex Group Company predicted: "Coffee prices are increasing without stopping". At the same time, he said that coffee prices will remain high at least in the first half of 2025. And in fact, in the first 3 days of the year of At Ty, coffee prices increased by a total of 274 USD/ton, continuously setting new price records.
In the Central Highlands provinces, many coffee growers said they have never had a happier Tet than this year because coffee prices have reached an all-time high. Some people took advantage of the high prices to sell part of their output to gain early luck and explore the market. Meanwhile, late-ripening coffee gardens were also harvested right after Tet.
The current coffee price fever is partly due to US President Donald Trump's recent threat to impose a 25% tax on Colombian goods imported into the country. Colombia is the third largest coffee exporter in the world after Brazil and Vietnam, and is also the second largest coffee supplier to the US. Although tensions between the US and Colombia have since cooled, they have affected the overall market sentiment.
Source: https://baodaknong.vn/mung-3-tet-gia-ca-phe-pha-sau-ky-luc-cua-ngay-mung-2-241607.html
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