Robusta Coffee Prices Reach All-Time ⁣Record​ High

Robusta coffee ⁣prices⁢ have experienced a ‌significant surge, with a⁣ total​ increase⁣ of nearly‍ 500 USD/ton, reaching​ an all-time record high ⁣of 5,267 USD/ton.

Weekly⁣ Price Increase

At ⁣the​ end ⁣of the ⁣trading ‌week on‌ September 14, ⁤Robusta coffee‌ prices on the London exchange saw a substantial increase of 190 USD/ton, bringing the price of Robusta⁢ coffee⁢ futures for November delivery to 5,267 USD/ton. The highest level of the session⁢ was 5,281, an increase of 204 USD/ton.

Compared to the beginning‌ of the ⁤week on ‍September 9, when the price of Robusta coffee was at 4,770 USD/ton for November delivery, the price has increased by nearly 500 USD/ton in just ‍one week.

Price Increase for January 2025 Delivery

For the January 2025 delivery period, Robusta​ coffee prices also rose⁢ to nearly 5,000 ⁤USD/ton, at 4,998 USD/ton, an increase‌ of 443 ⁢USD/ton.

Domestic Coffee Prices

While ‍world coffee prices continue ‍to set new ‍peaks, domestic coffee prices have increased more slowly, ‍rising by only 5,500 – 6,000⁤ VND/kg for the whole week, up to ​about 124,000 VND/kg. ⁢This ⁤is about⁣ 10,000 VND/kg lower than the peak in April.

Forecast for Coffee Crop Year 2024-2025

According‍ to⁤ Mr.‍ Nguyen Ngoc Luan, General Director of Global Trade Links Company Limited (HCMC), the end of the year is the time when coffee consumption demand increases while raw ⁢materials are still⁢ scarce, leading to higher ‍prices.

Mr. ​Luan also explained that domestic coffee prices did not increase in line‍ with the​ increase‍ in world prices because⁣ domestic prices had already increased before and had⁤ stabilized. According ​to the exchange rate conversion, domestic​ and world coffee prices ⁤are equivalent.

Price ‍Forecast for ​Next Crop

Forecasting the price of coffee in ⁢the next crop when the harvest begins in October, Mr. Luan said that the price⁢ will be at 120,000 – 130,000 VND/kg ⁢and will hardly decrease. This is also‌ the price ​that⁣ processing enterprises plan and finalize output orders.

Vietnam’s Coffee Exports and Imports

According to the Vietnam Coffee and Cocoa Association (VICOFA), in the first 8 months of 2024, Vietnam ⁣exported about 1.05 million tons of coffee, ​with⁤ an export ⁢turnover of ⁤nearly ‌4.04 billion USD, down 12.5% in volume but up 36.4% in turnover over‌ the same ⁣period last year.

On the other hand, during‌ the same‌ period, Vietnam imported about⁣ 97,858 tons of⁣ coffee‍ with a turnover of nearly 371.3⁢ million USD, an increase of about 41.7%⁢ in⁢ volume and an increase of about 104% in turnover compared to ⁢the same period ⁣last year. Of which, imported ​raw‍ coffee beans were about 83,334 tons, with a turnover of about 299.45 million USD, with an average unit price of 3,600 USD/ton.

The reason⁤ for this phenomenon is that the price of Vietnamese coffee has increased, many coffee processing factories in Vietnam have to​ find cheaper sources for ‍production; some export enterprises are​ short‌ of goods and have to ‌import‌ goods to deliver to partners.