Coffee prices are soaring again globally, Vietnamese farmers are making billions

Published 2024년 11월 30일

Tridge summary

Coffee prices are experiencing a significant increase, with Robusta coffee for delivery in January 2025 reaching a record high of 5,565 USD/ton on the London floor, and Arabica coffee for delivery in March 2024 also hitting a record high of 323.05 cents/lb on the New York floor. This trend is expected to continue due to predictions of future scarcity, potentially making coffee a luxury drink. Vietnamese farmers are capitalizing on this price surge, with green coffee beans prices also rising sharply, bringing significant profit to farmers in the Central Highlands despite weather challenges. Vietnam, being the world's leading Robusta producer, plays a crucial role in this price dynamic, despite weather issues slowing down harvest and reducing quality. The country's coffee exports have reached a record high of over 1.17 million tons, earning nearly 4.7 billion USD, largely due to increased demand and higher prices. However, concerns are raised about the sustainability of high prices, as they could lead to changes in roasting formulas, potentially impacting exports.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Normally, during the harvest season, coffee prices cool down due to abundant supply. But this year, this type of bean has increased continuously, helping coffee growers in the Central Highlands make a fortune. On November 29, the price of Robusta coffee on the London floor for delivery in January 2025 jumped to 5,565 USD/ton. This price is 38 USD higher than the old record, recorded on September 26 at 5,527 USD/ton. Meanwhile, the price of Arabica coffee on the New York floor for delivery in March 2024 also increased to 323.05 cents/lb - the highest since 1977. In the long-term, the price of this commodity also recorded "crazy" fluctuations. This shows that the world's coffee investors are predicting a future scarcity of this bitter-tasting bean. And with this global price fever, many experts believe that coffee is about to become a luxury drink. In the domestic market, the price of green coffee beans has also increased continuously. By the morning of November 29, this type of ...

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