Coffee prices are forecast to continue to increase

Coffee prices are expected to continue to increase in the near future. On the London exchange, on March 28, Robusta coffee prices for delivery in May 2024, July 2024, September 2024 and November 2024 increased by 15.7%, 15%, 14.5% and 13.5% respectively compared to February 28, increasing to $ 3,559/ton, $ 3,467/ton, $ 3,385/ton and $ 3,295/ton.

On the New York exchange, on March 28, the price of Arabica coffee for delivery in May 2024 and December 2024 increased by 4.2% compared to February 28, up to 190.65 cents/lb and 189.05 cents/lb respectively. Future prices for delivery in July 2024 and September 2024 both increased by 4.5%, up to 189.9 cents/lb and 189.45 cents/lb respectively.

On Brazil's BMF exchange, on March 28, coffee futures prices for May 2024, July 2024 and September 2024 increased by 3.7%, 4.8% and 3.3% respectively compared to February 28, up to 234.95 cent/lb; 235.75 cent/lb and 230.45 cent/lb.

In March 2024, Robusta coffee prices in the domestic market recorded a record-high increase compared to the end of February due to increased demand. On March 28, Robusta coffee prices increased by VND 16,100 - VND 16,900/kg (depending on the survey area) compared to February 28, up to VND 99,300 - VND 99,800/kg.

Due to unfavourable weather factors, our country's Robusta coffee output in the 2024/2025 crop year is estimated to only reach about 1.6 - 1.7 million tons, a decrease compared to the output of 1.78 million tons in the 2023/2024 crop year.