Domestic coffee prices are filled with green
The domestic coffee market recorded an increase of 900 VND/kg. The purchase price in the areas is as follows:
Dak Lak: 132,700 VND/kg (+700 VND)
Gia Lai: 132,700 VND/kg (+900 VND)
Lam Dong: 131,000 VND/kg (+1,000 VND)
Dak Nong: 133,000 VND/kg (+1,000 VND)
The increase after a series of sharp declines has caused coffee to stand firm at 133,000 VND/kg.
World coffee prices remain unchanged
On the London Stock Exchange, Robusta prices remain unchanged:
January term: 5,397 USD/ton
7: 5,377 USD/ton
In the same direction, Arabica prices on the New York exchange remained stable:
Monthly term: 377.20 cents/lb
Monthly term: 370.90 cents/lb
Reasons for coffee prices' sudden change direction
Coffee prices are currently rising due to concerns about a shortage of supply. Output is being severely affected by unfavorable weather in the world's two leading coffee producing countries. According to Bloomberg, Vietnam's coffee output in the 2024-2025 crop year is expected to be lower than last year, aggravating the shortage of supply and pushing up global coffee prices.
In addition, the USD weakened slightly against other currencies, supporting coffee prices to hold firm on trading floors.
Coffee price forecast
The domestic coffee market is expected to remain stable in the short term, while in the world market, Robusta products are likely to increase slightly due to high demand and scarce supply. Arabica prices could recover if the weather in Brazil improves.
