Coffee prices on December 5, 2024: Sharp decrease domestically

Coffee prices on December 5 domestically

Domestic coffee prices continue to drop sharply, ranging between VND 107,000 and VND 108,500/kg. This significant decrease compared to previous days raises concerns for farmers and export businesses.

Specifically, coffee prices today in Dak Lak dropped by 4,000 VND/kg compared to yesterday, reaching VND 108,000/kg. In Lam Dong, coffee prices also fell by VND 4,000/kg, down to VND 107,000/kg. Similarly, prices in Gia Lai decreased by VND 4,000/kg, standing at VND 108,000/kg.

In Dak Nong, coffee prices declined by VND 3,500/kg compared to yesterday, reaching VND 108,500/kg.

In Vietnam, coffee prices have dropped by VND 22,000 - 22,500/kg (equivalent to 17%) within just the first three days of the week, compared to the peak of VND 129,500 - 130,500/kg recorded at the end of last week. A wave of selling has already emerged in Vietnam following the first signs of declining prices on the ICE futures exchange.

Although Vietnam is entering the coffee harvest season, production is expected to decrease due to prolonged drought and climate change impacts. Severe drought conditions in recent times have directly affected coffee plants, reducing yield and bean quality.

This has led to market instability in the coffee industry. Investors and traders are concerned about potential future supply shortages, while simultaneously worrying about possible price corrections given the ample supply from other countries, particularly Brazil. Coffee prices on December 5 globally

On the global market, coffee prices have experienced a strong recovery after a steep decline. Both Robusta and Arabica prices have risen significantly on major exchanges.

At the close of the trading session, Robusta coffee prices on the London exchange as of 4:30 a.m. on December 5, 2024, increased again, with gains ranging from $ 144 to $ 161/ton, fluctuating between $ 4,423 and $ 4,779/ton. Specifically, the January 2025 contract was at $ 4,770/ton (up $ 144/ton), the March 2025 contract was at $ 4,751/ton (up $ 147/ton), the May 2025 contract reached $ 4,702/ton (up $ 158/ton), and the July 2025 contract rose to $ 4,638/ton (up $ 161/ton).

Similarly, Arabica coffee prices on the New York exchange on the morning of December 5, 2024, rebounded, with green dominating the market and gains ranging from 7.15 to 8.20 cents/lb. Specifically, the March 2025 contract was at 303.70 cents/lb, the May 2025 contract was at 301.75 cents/lb, the July 2025 contract reached 297.25 cents/lb, and the September 2025 contract settled at 292.20 cents/lb (down 19.70 cents/lb).

$ 1 = VND 25.146 - Source: Vietcombank.