Coffee prices on December 4, 2024: Sharp decline across the board

Coffee prices on December 4 domestically

Domestic coffee prices today saw a sharp decline across the board, dropping by VND 16,000 – 19,800/kg. This brought the average purchasing price in the Central Highlands to the lowest level in several months. This decrease is attributed to global market pressures and profit-taking activities.

Today, domestic coffee prices also collectively fell by up to VND 19,000/kg, trading between VND 108,000 and VND 109,500/kg. Specifically, in Dak Lak, coffee was purchased at VND 109,000D/kg, down VND 19,000/kg compared to yesterday. In Lam Dong, coffee was purchased at VND 108,000/kg, marking a decrease of VND 19,800/kg compared to the previous session.

In Gia Lai, coffee was traded at VND 109,000/kg, a drop of VND 19,000/kg compared to the day before. Similarly, in Dak Nong, prices recorded a decrease of VND 19,000/kg, with transactions at VND 109,500/kg.

The past two trading sessions have left the market stunned as prices plummeted significantly across the board.

In Vietnam, harvest activity is in full swing, but farmers have not yet accelerated sales. Previously, the General Department of Vietnam Customs reported that the volume of coffee exports in the first half of November 2024 reached only 20,933 tons, marking a 45% decrease compared to the same period in 2023 and a 3% drop compared to the same period in the previous month.

According to the Department of Industry and Trade of Dak Lak, despite a poor harvest during the 2023–2024 crop year, high prices compensated for the shortfall. As a result, the province's coffee export turnover reached $ 915 million, an increase of $ 168 million compared to the same period last year, accounting for 17% of the country's total export value. Most of the coffee exported was raw (green coffee beans), with the proportion of processed coffee exports increasing annually but still representing a small fraction of the total export turnover.

Coffee prices on December 4 globally

Robusta coffee prices on the London exchange continued to decline sharply, dropping by $ 199 – 208/ton. This marks the steepest fall over three consecutive sessions, pushing Robusta prices to their lowest levels in more than two weeks.

By the close of the trading session at 4:30 AM on December 4, 2024, red dominated the London exchange as Robusta prices continued to plummet, dropping between $ 199 – 208/ton and ranging from $ 4,390 to $ 4,772/ton. Specifically, prices for January 2025 delivery stood at $ 4,626/ton; March 2025 delivery at $ 4,604/ton; May 2025 delivery at $ 4,544/ton; and July 2025 delivery at $ 4,477/ton.

$ 1 = VND 25.142 - Source: Vietcombank.