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.