(VAN) Coffee prices on December 12, 2024, saw a sharp decline globally. Domestic coffee prices increased by VND 200, trading at VND 124,700 – 124,900/kg.
Latest domestic and global coffee prices on December 12, 2024
Coffee prices on December 12 globally
Globally, both the London and New York exchanges experienced sharp declines on December 12.
Specifically, Robusta prices on the London exchange for January 2025 delivery dropped by $ 107 (equivalent to 2.03%), settling at $ 5,161/ton. Meanwhile, the March 2025 contract plummeted by $ 131 (equivalent to 2.5%), reaching $ 5,101/ton.
On the New York exchange, Arabica prices for March 2025 delivery fell by 13.95 cents (equivalent to 4.17%), down to 320.20 cents/lb. The May 2025 contract also declined sharply by 13.75 cents (equivalent to 4.15%), landing at 317.80 cents/lb.
Latest Arabica and Robusta Prices on December 12, 2024
Global coffee prices have plummeted sharply, driven by concerns that last week’s price surge was too high and rapid.
The emergence of long position liquidation in the coffee futures market followed an announcement by Neuman Gruppe GmbH, a major coffee trading company, projecting Brazil’s Arabica production for the 2025/26 harvest at approximately 40 million bags, significantly higher than Volcafe’s earlier forecast of 34.4 million bags.
Neuman Gruppe also stated that it is still “too early” to make precise assessments of Brazil’s 2025/26 harvest.
Another negative factor for Arabica is the stockpile monitored by ICE, which has risen to its highest level in 2.5 years, reaching 919,388 bags as of December 11.
According to Reuters, traders noted that the market may have overreacted to Volcafe’s revised forecast of Brazil’s Arabica production for the current crop year to 34.4 million bags, a decrease of 11 million bags from its previous estimate.
Thus, global coffee prices on December 12, 2024, have reversed sharply from the previous day.
Coffee prices on December 12 domestically
Domestically, coffee prices have increased slightly by VND 200 compared to the previous day.
Specifically, in Lam Dong province, the districts of Di Linh, Bao Loc, and Lam Ha are trading uniformly at VND 124,400/kg.
In Dak Lak province, Cu M’gar district is purchasing at VND 124,900/kg, while Ea H’leo and Buon Ho districts are trading at VND 124,800/kg.
In Dak Nong province, traders in Gia Nghia and Dak R’lap are transacting at VND 124,900/kg and VND 124,800/kg, respectively.
In Gia Lai province, Chu Prong district is trading at VND 124,700/kg, while Pleiku and La Grai remain steady at VND 124,600/kg.
Finally, in Kon Tum province, the purchase price is VND 124,700/kg today.
Thus, domestic coffee prices on December 12, 2024, are trading in the range of VND 124,400 – 124,900/kg.
$ 1 = VND 25.141 – Soure: Vietcombank.
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