Vietnam coffee prices extend losses on Feb 24 as London robusta futures stay under pressure

VINAGRI News - Domestic coffee prices in Vietnam fell by an additional VND 300 - 400 per kg on February 24, tracking continued weakness in London robusta futures. The May 2026 contract closed at $3,560 per ton, with technical indicators suggesting further downside risk.

Summary:

> Vietnam domestic coffee prices fell by VND 300 - 400 per kg to VND 92,900 - 93,600 per kg.

> ICE London May 2026 robusta futures closed at $3,560 per ton (-0.86%).

> Domestic prices are trading at a slight premium of about VND 300 per kg ($11.46 per ton) over London futures.

> Technical indicators suggest continued downside risk, with support seen at $3,500 per ton.

Vietnam’s domestic robusta coffee prices continued to decline on February 24, dropping by VND 300 - 400 per kg to trade within the range of VND 92,900 - 93,600 per kg. The downturn mirrored losses in the London futures market, where prices remain under pressure amid improving global supply prospects.

At the close of trading on Monday (February 23), robusta coffee futures for May 2026 delivery on ICE London settled at $3,560 per ton, down 0.86% (-$31 per ton) from the previous session. Other nearby contracts also recorded notable declines. The March 2026 contract fell 2.02% (-$73 per ton) to $3,542 per ton, while the July 2026 contract slipped 1.02% (-$36 per ton) to $3,489 per ton.

Converted into Vietnamese dong at the current exchange rate of $1 = VND 26,173.50, the May 2026 robusta contract is equivalent to approximately VND 93,100 per kg. With the domestic average price standing at around VND 93,400 per kg, local robusta prices are currently about VND 300 per kg higher than the London May futures price - equivalent to a premium of roughly $11.46 per ton.

From a technical perspective, robusta futures are trading below key medium-term support levels, indicating that short-term momentum remains bearish. If selling pressure persists, prices may retest the $3,500 per ton level, with potential extension toward $3,450 per ton. Conversely, short-covering or technical buying could lift prices toward the $3,600 - 3,630 per ton range, though a strong breakout appears unlikely without fresh supportive fundamentals.

Overall, during the February 24 session, May 2026 robusta futures are expected to fluctuate within a range of $3,500 - 3,600 per ton, with the prevailing bias tilted toward consolidation with a weaker tone.

NPK/ Vinagri News