Coffee prices on November 27, 2024: Strong upward momentum

Coffee prices on November 27 globally

Globally, both the London and New York exchanges saw strong increases on November 27.

Specifically, Robusta prices on the London exchange for January 2025 delivery rose by $ 65 (equivalent to 1.27%) to $ 5,175/ton. Meanwhile, the March 2025 contract surged by $ 78 (equivalent to 1.55%) to $ 5,114/ton.

On the New York exchange, Arabica prices for March 2025 delivery climbed by 4.05 cents (equivalent to 1.33%) to 308.85 cents/lb. The May 2025 contract also increased by 4.05 cents (equivalent to 1.34%) to 306.30 cents/lb.

Global coffee prices maintained their strong upward trend today as the US dollar weakened.

At the time of observation, the DXY index, which measures the greenback's movement against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stood at 106.84.

This year, the coffee market has surged due to significant supply disruptions from key producing nations like Brazil and Vietnam. Notably, the cheaper robusta variety, commonly used in instant coffee, recently reached its highest level since the 1970s.

Further pressure is mounting due to robust arabica exports this year, likely leading to lower ending stocks.

According to the Foreign Agricultural Service of the US Department of Agriculture, Brazil’s coffee inventory could drop to just 1.2 million bags by the end of the current crop year, a 26% decline compared to last year.

Thus, global coffee prices on November 27, 2024, continued their upward trajectory from the previous day.

Coffee prices on November 27 domestically

In Vietnam, the domestic coffee market today, November 27, rose by an additional VND 700 compared to yesterday.

Specifically, in Lam Dong province, Di Linh, Bao Loc, and Lam Ha districts all traded at the same level of VND 121,800/kg.

In Dak Lak, Cu M'gar district purchased coffee at VND 122,400/kg today, while Ea H'leo and Buon Ho districts traded at VND 122,300/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap recorded transaction prices of VND 122,700 and VND 122,600/kg, respectively.

In Gia Lai province, Chu Prong district traded at VND 122,400/kg, while Pleiku and La Grai held steady at VND 122,300/kg.

Meanwhile, the purchase price for coffee in Kon Tum province today was VND 122,400/kg.

Domestic coffee prices today continued their upward trend, bringing this agricultural product closer to the threshold of VND 123,000/kg.

Thus, domestic coffee prices on November 27, 2024, are trading around VND 121,800 - 122,700/kg.

$ 1 = VND 25.170 - Source: Vietcombank.