Coffee prices on 11/12/2024: Market sees strong increase

Coffee prices on November 12 globally

Globally, both the London and New York exchanges saw a strong increase on November 12.

In particular, Robusta prices on the London exchange for January 2025 delivery rose by $ 100 (equivalent to 2.29%), reaching $ 4,476/ton. The March 2025 delivery also saw a strong increase of $ 94 (equivalent to 2.18%), reaching $ 4,412/ton.

On the New York exchange, Arabica prices for December 2024 delivery rose by 2.85 cents (equivalent to 1.12%), reaching 256.20 cents/lb. The March 2025 delivery increased by 2.75 cents (equivalent to 1.09%), reaching 255.85 cents/lb.

Global coffee prices today show strong growth. According to experts, the lack of rain in Brazil and a decline in Vietnam's October 2024 export figures are raising concerns about supply in the market.

The volume of coffee exports for the first 10 months of 2024 decreased by 10.8%. The Vietnam Coffee and Cocoa Association (VICOFA) reports that coffee-growing areas are increasingly shrinking due to low prices in previous years, which affected farmers' incomes and led them to switch to other crops.

Increasing the area and production of this agricultural product in the near future will be very challenging.

Thus, global coffee prices on 11/12/2024, are showing good growth compared to yesterday.

Coffee prices on November 12 domestically

In the domestic market, coffee prices on November 12, have increased sharply by VND 1,200 compared to yesterday.

Specifically, in Lam Dong province, the districts of Di Linh, Bao Loc, and Lam Ha are trading at VND 108,000/kg.

In Dak Lak, Cu M'gar district is currently purchasing coffee at VND 108,500/kg, while Ea H'leo and Buon Ho districts are trading at VND 108,400/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are transacting at VND 108,500 and VND 108,600/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 108,500/kg, while Pleiku and La Grai are both at VND 108,400/kg.

Meanwhile, the purchase price of coffee in Kon Tum today is VND 108,500/kg.

Domestic coffee prices today have risen sharply, bringing this agricultural product closer to the VND 109,000/kg threshold.

Thus, on 11/12/2024, domestic coffee prices are trading around VND 108,000 - 108,700/kg.

$ 1 = VND 25.130 - Source: Vietcombank.