DAILY: Vietnamese coffee prices increased on January 23, 2024
Thursday, January 23,2025
AsemconnectVietnam - According to Kinhtedothi, Today, coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area range from 123,500 to 124,500 VND/kg, marking the third consecutive day of increases.
The strengthening of the Brazilian real and Vietnamese dong against the USD has discouraged farmers from selling, while the upcoming Lunar New Year holiday poses supply concerns.
• Lâm Đồng Province (Di Linh, Lâm Hà, Bảo Lộc): 123,500 VND/kg.
• Đắk Lắk Province (Cư M'gar): 124,200 VND/kg; (Ea H'leo, Buôn Hồ): 124,100 VND/kg.
• Đắk Nông Province (Gia Nghĩa): 124,500 VND/kg; (Đắk R'lấp): 124,400 VND/kg.
• Gia Lai Province (Chư Prông): 124,200 VND/kg; (Pleiku, La Grai): 124,100 VND/kg.
• Kon Tum Province: 124,100 VND/kg.
The domestic market continues its upward trend compared to yesterday.
Global Coffee Prices:
• London Robusta Futures:
o March 2025 delivery: $5,452/ton (+$189/ton).
o May 2025 delivery: $5,388/ton (+$171/ton).
• New York Arabica Futures:
o March 2025 delivery: 341.05 cents/lb (+14.05 cents/lb).
o May 2025 delivery: 337.85 cents/lb (-13.9 cents/lb).
Robusta prices have surged for the third consecutive day this week, while Arabica shows signs of recovery. According to expert Nguyễn Quang Bình, this increase is driven by the hesitation of the world’s two largest coffee-producing countries, Brazil and Vietnam, to sell.
Key Drivers:
The appreciation of the Brazilian real and Vietnamese dong against the USD has led to reduced selling activities from farmers. Additionally, the long Lunar New Year holiday in Vietnam raises concerns about supply disruptions.
The Vietnam Commodity Exchange (MXV) also attributes Robusta's price hike to pessimistic supply prospects and the weakening USD/BRL exchange rate.
Exports Performance:
Despite a record harvest in 2024, Vietnam's coffee industry has started 2025 strongly:
• First 15 Days of 2025: Nearly 73,820 tons of green coffee exported, earning 400 million USD (~10,000 billion VND).
• Exports have dropped 23% in volume but surged 41% in value compared to the same period last year, reflecting strong global demand and higher prices.
T.Huong
Source: Vitic
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