As of 11:30 a.m. today (December 3), the domestic coffee market has dropped dramatically, with an average drop of nearly VND11,000/kg, causing prices to fluctuate between VND117,000 - VND117,500/kg. The average coffee purchase price in the Central Highlands provinces is VND117,400/kg.
Lam Dong is still the province with the lowest coffee purchasing price in the Central Highlands. Compared to the closing price yesterday (December 2), coffee prices in this region have dropped sharply by VND10,800/kg, currently standing at VND117,000/kg.
In the same direction, the coffee purchase price in Gia Lai province today ranked second on the chart with a decrease of 10,800 VND, listed at 117,200 VND/kg.
Notably, Dak Nong and Dak Lak both hold the leading position in the province and city with the highest coffee purchasing price in the country, setting the mark of 117,500 VND/kg.
The domestic coffee exchange today saw its deepest price drop ever, breaking the upward trend that has lasted for more than a week. Up to this point, the domestic coffee price has decreased by nearly 13,000 VND/kg.
On the London and New York exchanges, the coffee market turned down in all terms. The contract for delivery in January 2025 decreased by more than 10% (equivalent to 575 USD/ton), standing at 4,834 USD/ton. The contract for delivery in March 2025 decreased by less than 0.01%, remaining at 4,806 USD/ton.
Similarly, the price of Arabica coffee in New York for delivery in December 2024 and March 2025 simultaneously decreased to around 294.25 - 296.05 cents/lb.
Although the possibility of a deep decrease after more than a week of rapid increase was expected, a decrease of more than VND 10,000/kg in the domestic market and nearly USD 600/ton on the London exchange was unimaginable.
Currently, Dak Lak, the coffee capital of Vietnam, is in the harvest season. According to statistics from the agricultural sector, with an area of up to 212,000 hectares, the estimated output is about 354,000 tons.
In Vietnam, the 2024-2025 crop year is in a state of "bad harvest, good price". According to the Director of the Department of Agriculture and Rural Development of Dak Lak, the main causes of this situation are climate change, the El Nino phenomenon causing drought, along with military conflicts in the world increasing export and transportation costs.
Despite the difficulties of crop failure, Dak Lak's coffee export turnover still reached 915 million USD, an increase of 168 million USD compared to the 2023-2024 crop year, accounting for 17% of the country's total coffee export turnover.
