As of 11:30 a.m. today, the domestic and international coffee markets remained unchanged. Domestically, this commodity is still trading at 106,000 - 106,500 VND/kg. At the end of the week, domestic coffee prices lost an average of 3,500 VND/kg.
In the international market, at the end of the week, Robusta coffee futures for January 2025 delivery fell by 132 USD/ton. Arabica coffee futures for December delivery fell by 5.45 cents/lb. Robusta coffee had its fifth consecutive week of sharp decline.
Compared to last week, New York exchange Arabica coffee futures for December delivery decreased by 8.9 cents/lb.
Many traders said robust Robusta exports from Brazil this season have helped pressure prices, while more rain is expected to help Brazil’s coffee crop recover after a prolonged dry spell that has pushed Arabica prices further down.
The weakening Brazilian currency, with the Real falling to its lowest level in nearly three months against the US dollar, is also one of the factors causing coffee prices to continue to plummet.
In general, in Vietnam, the ongoing harvest is putting downward pressure on Robusta coffee. Storm No. 6 passed without causing serious damage, and the harvest progress of gardeners is still guaranteed.
