Coffee prices in Vietnam dropped this week as farmers increased their bean sales ahead of the upcoming Lunar New Year holiday, according to traders. In the Central Highlands, the country’s largest coffee-growing region, beans were sold for 115,600-116,300 dong ($4.56-$4.59) per kilogram, down from 120,000-122,000 dong last week.
“Farmers have started releasing more beans from the current crop, though not in large quantities,” a trader in the coffee belt explained, noting that prices remain highly volatile.
Another trader reported that weather conditions have improved, allowing drying processes to progress smoothly. The Mercantile Exchange of Vietnam highlighted that the country’s coffee exports have been gradually improving as the harvest season winds down. However, Nguyen Ngoc Quynh, deputy head of the agency, pointed out that exports may not continue to surge as they did in December due to the long Lunar New Year break in January and February.
“Coffee prices in the first quarter of 2025 are unlikely to rise further because of increased supplies from Vietnam,” Quynh added.
While coffee exports in December rose 102.6% compared to the previous month, the country’s total exports for 2024 fell 38.5% compared to the previous year, according to Vietnam’s customs data. Traders are offering 5% black and broken-grade 2 robusta beans at a discount of $180-$200 to the March LIFFE contract.
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