As of 11:30 a.m. today (January 10), the domestic coffee market has slightly increased, increasing by an average of 400 VND/kg per session, currently the purchase price fluctuates between 118,700 - 119,500 VND/kg. The average coffee purchase price in the Central Highlands provinces today is 119,400 VND/kg.
Lam Dong is still the province with the lowest coffee purchasing price in the Central Highlands, with a difference of about 700 VND/kg compared to the average price. Compared to the shocking drop in yesterday's trading session (January 9), coffee prices in this region "turned around" and increased the most by 700 VND/kg, reaching the market price of 118,700 VND/kg.
Purchasing at a higher price than Lam Dong, coffee price in Gia Lai province today increased by 300 VND/kg, setting the mark at 119,300 VND/kg.
Notably, Dak Nong and Dak Lak are the two leading provinces and cities with the highest coffee purchasing prices, increasing by VND300/kg and VND500/kg respectively, reaching VND119,500/kg.
On the London and New York exchanges, the coffee market was covered in green in all terms. On the London Robusta coffee exchange, coffee prices unexpectedly increased slightly again, approaching the peak of 5,000 USD/ton. The contract for delivery in March 2025 increased slightly by 0.46% (equivalent to 23 USD/ton), anchoring at 4,979 USD/ton. The contract for delivery in May 2025 increased the price to 4,891 USD/ton.
Similarly, the New York Arabica coffee market also recorded large fluctuations. The March 2025 delivery period reversed and increased by nearly 1%, standing at 318.50 cents/lb. The May 2025 delivery period also increased by 0.54%, entering the market at 314.70 cents/lb.
The continuous rise and fall of coffee prices has left speculators and farmers in a "wait-and-see" state in the hope of a good harvest. In 2024, coffee prices are expected to set new records due to concerns about supply shortages from major exporters such as Brazil and Vietnam. At the same time, unfavorable weather conditions are also one of the factors driving up coffee prices.
Increased buying by hedge funds and rising tensions in the Red Sea, which have led to higher shipping costs, have also contributed to the sharp rise in prices of the commodity. In addition, this commodity has been supported by countries increasing their stockpiling due to concerns that Europe will implement the EUDR after December 30, 2024.
