Domestic coffee prices continue to increase
At the end of the trading session of the weekend, the domestic coffee market increased by VND1,100-2,000/kg compared to the previous trading session. Currently, coffee prices are listed in the following areas:
Dak Nong: 134,000 VND/kg.
Dak Lak, Gia Lai: 133,900 VND/kg.
Lam Dong: 132,900 VND/kg.
After a sharp decrease of 1,500 VND/kg last week, coffee products have regained momentum, helping people feel excited and focus on investing in the harvest.
World coffee prices move in the same direction
On the London Stock Exchange, Robusta prices reversed and increased sharply compared to the closing price of last week's session:
January term: Increased by 118 USD/ton, anchored at 5,515 USD/ton.
January term: Increased by 127 USD/ton, anchored at 5,504 USD/ton.
In the same direction, Arabica prices on the New York exchange increased:
January term: Increased by 12.95 cents/lb, to 390.15 cents/lb.
January term: Increased by 14.45 cents/lb, to 385.30 cents/lb.
Reasons for coffee prices to increase
Coffee prices continued to increase at the beginning of this year due to concerns about a shortage of supply. According to the Vietnam Coffee and Cocoa Association (Vicofa), coffee output in the 2024-2025 crop year is expected to decrease by 5% compared to the previous crop to about 27 million bags.
The impact of El Nino's dry weather phenomenon last year could cause prolonged damage to the coffee crop in South and Central America this year.
Coffee price forecast
Experts believe that coffee prices in the coming time will be under pressure to adjust because the freshly harvested supply will gradually be brought to the market. However, the demand for coffee in the world is showing signs of decreasing due to high selling prices. Therefore, coffee prices will continue to be adjusted in the coming time.
