Coffee prices on December 3, 2024: Turn sharply downward

Coffee prices on December 3, 2024, recorded a sharp decline in both domestic and global markets. Despite facing significant pressure from various factors, the long-term outlook for the coffee market remains positive due to stable demand and limited supply.

Coffee prices on December 3 domestically

Domestic coffee prices continued to drop significantly, falling by VND 1,700 - 2,000/kg compared to yesterday. Specifically, coffee prices in the Central Highlands and Southeastern provinces ranged from VND 127,800 to 128,500/kg. This marks the lowest level in the past month, reflecting the strong influence of international markets.

Coffee prices at companies today also fell sharply by VND 1,700 - 2,000/kg. At Cu M'gar (Dak Lak), prices dropped VND 2,000/kg compared to yesterday, currently at VND 128,000/kg. In Ea H'leo and Buon Ho districts (Dak Lak), purchasing prices stood at VND 127,900/kg.

Similarly, in Lam Dong, coffee prices in Di Linh, Lam Ha, and Bao Loc districts dropped VND 1,700/kg compared to yesterday, now at VND 127,800/kg.

In Gia Lai, reported coffee prices fell by VND 2,000/kg, with Chu Prong district purchasing at VND 129,000/kg, while Pleiku and La Grai districts were at VND 128,900/kg.

Likewise, in Dak Nong, coffee prices followed the general downward trend, dropping VND 2,000/kg to VND 128,500/kg, marking the highest transaction price in today’s session.

In Vietnam, the harvest season is in full swing, but farmers have yet to accelerate their sales. According to Reuters’ weekly report on Asian coffee, Vietnamese farmers have harvested about 30% of the crop but are holding back on selling as the beans are still in the drying process. Previously, the General Department of Customs reported that Vietnam’s coffee exports in the first half of November reached only 20,933 tons, a decline of 45% compared to the same period in 2023 and 3% compared to the same period last month. The lower export volume in early November compared to October reflects delays in export activities.

Coffee prices on December 3 globally

In the global market, coffee prices today also saw an unprecedented decline. Within just the first two trading sessions of the week, Robusta and Arabica prices plummeted sharply, erasing all the gains achieved in November.

$ 1 = VND 25.140 - Source: Vietcombank.