As of 11:30 a.m. today (December 8), the domestic and international coffee markets have been moving in opposite directions. Domestically, this commodity continues to increase sharply in each session, trading at 123,000 - 124,000 VND/kg. At the end of the week, the average coffee price reached 119,871 VND/kg.
Despite a recovery in the middle of the week, domestic coffee prices in Vietnam this week from December 2 to December 8 still recorded a significant decrease compared to last week. At the end of last week, coffee prices reached a peak of VND130,500/kg, compared to the closing price this week, domestic coffee prices decreased sharply from VND6,000 - 6,500/kg.
On the London and New York exchanges, the coffee market continued to rise in all terms. The contract for delivery in January 2025 increased by a whopping 5.27% (equivalent to 258 USD/ton), standing at 5,153 USD/ton. The contract for delivery in March 2025 increased by less than 0.28%, remaining at 5,116 USD/ton.
Similarly, developments in the New York Arabica coffee market for delivery terms in December 2024 and March 2025 simultaneously skyrocketed around 330.25 - 327.60 cents/lb (up nearly 5.40%).
According to the Import-Export Department (Ministry of Industry and Trade), in 2024, coffee is the agricultural product with the strongest price increase. In November 2024, the average export price of coffee is estimated at 5,818 USD/ton, the highest level ever. In the first 11 months of this year, the average export price of coffee is estimated at 4,838 USD/ton, an increase of 57% over the same period in 2023.
In the first 11 months of 2024, coffee exports are estimated to reach nearly 1.2 million tons, worth 4.84 billion USD, down 15% in volume but up 33% in value compared to the same period in 2023. Although export volume decreased, prices increased sharply, so Vietnam's coffee export turnover has now surpassed the record achieved in 2023 and is heading towards a new record of 5 billion USD.
