January 22, 2025 | 01:44 GMT +7
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January 22, 2025 | 01:44 GMT +7
Hotline: 0913.378.918
Domestic and global coffee prices update on December 1, 2024
Globally, both the London and New York exchanges recorded no new movements on December 1.
On the London exchange, Robusta prices for January 2025 delivery sharply dropped by $ 156 (equivalent to 2.8%) to $ 5,409/ton. Meanwhile, the March 2025 contract fell by $ 151 (equivalent to 2.73%), settling at $ 5,377/ton.
On the New York exchange, Arabica prices for March 2025 delivery decreased by 5 cents (equivalent to 1.55%) to 318.05 cents/lb, and the May 2025 contract dropped by 5.2 cents (equivalent to 1.62%), reaching 315.50 cents/lb.
Latest Arabica and Robusta prices as of December 1, 2024
Global coffee prices remained stable today. Summing up the week, both exchanges recorded significant increases: Robusta for January 2025 delivery rose by $ 64/ton, while Arabica for March 2025 delivery surged by 15.95 cents/lb.
During the week, Robusta prices hit a historic high, and Arabica reached the highest level in 47 years. This was driven by adverse weather in Brazil and Vietnam, threatening global coffee production.
Farmers in Brazil and Vietnam have been reluctant to sell, hoping for better prices, which has further fueled the price surge.
According to Mr. Do Ha Nam, Chairman of the Board at Intimex Group, multiple factors have driven the increase, but the core issue remains supply being smaller than demand.
The surge in New York has spilled over to the London exchange. The higher the prices, the more reluctant farmers are to sell, exacerbating the supply shortage.
Thus, global coffee prices as of December 1, 2024, remain unchanged compared to yesterday.
In Vietnam, the domestic coffee market also held steady today.
In Lam Dong province, districts such as Di Linh, Bao Loc, and Lam Ha are trading at VND 129,700/kg.
In Dak Lak, Cu M'gar district is purchasing coffee at VND 130,000/kg, while Ea H'leo and Buon Ho districts are trading at VND 129,900/kg.
In Dak Nong, traders in Gia Nghia and Dak R'lap are transacting at VND 130,500 and VND 130,400/kg, respectively.
In Gia Lai, Chu Prong district is trading at VND 130,000/kg, while Pleiku and La Grai maintain the same level of VND 130,000/kg.
Meanwhile, Kon Tum province's coffee purchasing price today stands at VND 130,000/kg.
Thus, domestic coffee prices on December 1, 2024, are trading around VND 129,700 - 130,500/kg.
$ 1 = VND 25.130 - Source: Vietcombank.
Translated by Hoang Duy
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