Coffee prices on December 8, 2024: Sharp decline this week

Coffee prices on December 8 globally

Globally, the London and New York exchanges remained stable on December 8.

On the London exchange, Robusta prices for January 2025 delivery held steady at $ 5,153/ton, while the March 2025 delivery contract remained at $ 5,116 USD/ton.

Meanwhile, on the New York exchange, Arabica prices for March 2025 delivery stood at 330.25 cents/lb, with the May 2025 delivery contract maintaining a level of 327.60 cents/lb.

Global coffee prices remained unchanged today, with the London and New York exchanges showing mixed trends earlier in the week.

Speculators accelerated profit-taking at the start of the trading session, causing Robusta and Arabica prices to plummet.

However, the market gradually recovered towards the weekend, recouping part of the losses. The recovery was supported by the weakening USD and heavy rains delaying Vietnam’s harvest, coupled with less optimistic forecasts for Brazil's upcoming crop.

For the week, Robusta prices for January 2025 delivery dropped by $ 256/ton, while Arabica prices for March 2025 delivery rose sharply by 12 cents/lb.

Thus, on December 8, 2024, global coffee prices remained unchanged from the previous day.

Coffee prices on December 8 domestically

In Vietnam, domestic coffee prices remained stable compared to the previous day.

In Lam Dong province, transactions in Di Linh, Bao Loc, and Lam Ha are consistent at VND 123,000/kg.

In Dak Lak province, Cu M'gar recorded a purchasing price of VND 124,000/kg, while Ea H'leo and Buon Ho are trading at VND 123,900/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap offered VND 124,000/kg and VND 123,900/kg, respectively.

In Gia Lai province, Chu Prong is trading at VND 124,000/kg, while Pleiku and Ia Grai are both holding steady at VND 123,900/kg.

In Kon Tum province, coffee purchases are being made at VND 124,000/kg.

Today, domestic coffee prices remain stable, with the highest level recorded at VND 124,000/kg.

This week, the domestic coffee market experienced a significant drop. Prices in Dak Lak, Gia Lai, and Kon Tum fell by VND 6,000/kg, while Lam Dong and Dak Nong saw sharper declines of VND 6,500/kg.

Thus, domestic coffee prices on December 8, 2024, are trading around VND 123,000 - 124,000/kg.

$ 1 = VND 25.134 - Source: Vietcombank.