As of 11:30 a.m. today (November 25), the domestic coffee market has unexpectedly increased, with an average increase of VND1,000/kg, causing prices to fluctuate between VND118,800 - VND120,000/kg. The average coffee purchase price in the Central Highlands provinces is VND120,000/kg.
Lam Dong is still the province with the lowest coffee purchasing price in the Central Highlands. Compared to yesterday's closing price, the coffee price in this region stood at 118,800 VND/kg, although it has increased by 800 VND/kg.
In the same direction, the coffee purchase price in Gia Lai province today ranked second on the chart with an increase of 1,000 VND, listed at 119,900 VND/kg.
Notably, Dak Lak and Dak Nong have together held the leading position in the province and city with the highest coffee purchase price in the country for many days, simultaneously increasing by 1,000 VND/kg, setting the mark at 120,000 VND/kg.
The domestic coffee exchange continued its upward trend until the beginning of this week. Up to this point, domestic coffee prices have increased by more than VND10,000/kg, reaching a peak of VND120,000/kg.
On the London and New York exchanges, the coffee market remained unchanged across all terms. Contracts for delivery in January 2025 and March 2025 remained unchanged at $4,985/ton and $4,923/ton, respectively.
Similarly, the developments in the New York Arabica coffee market for December 2024 and March 2025 delivery terms remained unchanged from yesterday's closing session, currently standing at 302.10 cents/lb and 299.60 cents/lb.
At the end of last week's trading session, Robusta coffee futures for December had 3 sessions of decrease totaling 128 USD, but in return, 2 sessions increased sharply with a total of 340 USD. On average, the price increased 212 USD/ton, only 15 USD away from the historical mark of 5,000 USD/ton.
The global coffee market recorded its third consecutive weekly increase on both exchanges. The US Department of Agriculture (FAS) forecasts Brazil's coffee production in 2024.25 at 66.4 million bags, down from 69.9 million bags previously, and inventories at 1.2 million bags, down 26% from the previous year.
Vietnam's October coffee exports fell 11.6%, along with a shortage of Robusta supply, helping push the price of this commodity closer to the $5,000/ton mark.
According to experts, the imbalance between supply and demand shows no signs of abating, so coffee prices will continue to remain high.
