Coffee price today 10/1/2024: Slight decrease of 100 VND

Domestic coffee prices today

Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 121,000 VND/kg.

In Cu M'gar district (Dak Lak), the coffee price today is at 122,000 VND/kg. In Ea H'leo district (Dak Lak), Buon Ho district (Dak Lak), the coffee price today is purchased at the same level of 121,900 VND/kg.

Similarly in Dak Nong province, today's coffee purchase price is at 121,100 VND/kg in Gia Nghia and 121,000 VND/kg in Dak R'lap.

In Gia Lai province, coffee price today is at 121,000 VND/kg (Chu Prong), in Pleiku and La Grai the price is 120,900 VND/kg.

Today's coffee price in Kon Tum province is purchased at 121,000 VND/kg.

Coffee prices in Vietnam have increased by VND1,500 to VND2,100 per kilogramme over the past week, depending on the region. According to Reuters, growers in some areas are starting to harvest coffee early and are offering prices of VND120 to VND120.8 million per tonne. The domestic coffee market in Vietnam is currently quiet ahead of the new 2024/2025 crop, with buying prices down by $200-$250 per tonne compared to the listed price on the London exchange.

Nguyen Nam Hai, Chairman of Vicofa, said that supply and demand and financial speculation are the main factors affecting coffee prices. He also mentioned that the US Federal Reserve recently cut interest rates by 0.5%, which has affected coffee prices. Hai said that although market demand has not changed, the decrease in coffee prices is mainly due to financial speculation, causing domestic coffee prices to decrease as well.

Storm No. 4 has brought heavy rain and thunderstorms to the Central Highlands, which could affect the upcoming coffee harvest. However, the harvest is expected to begin in November and the weather is expected to be more favorable. Limited post-harvest processing conditions could affect the quality of the coffee.

World coffee prices today

At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery decreased by 28 USD/ton, at 5,454 USD/ton, and for January 2025 delivery decreased by 19 USD/ton, at 5,184 USD/ton.

Arabica coffee prices for December 2024 delivery decreased by 3.05 cents/lb to 266.10 cents/lb, and for March 2025 delivery decreased by 2.70 cents/lb to 264.20 cents/lb.

Robusta coffee prices are continuously increasing and setting records, but domestic coffee prices have only increased slightly. Expert Nguyen Quang Binh commented that high prices could reduce the purchasing power of importers.

Vietnamese coffee prices are not at an all-time high, but they are still high at around VND120,000/kg. Reduced supply, as farmers switch from coffee to fruit trees and drought, have been the main reasons for the rise in coffee prices over the past two years.

Imports to Europe are facing difficulties due to the EUDR regulations, forcing importers to choose their sources carefully. The coffee market is expected to stabilize when Vietnam starts the new crop season 2024-2025. Domestic coffee prices are expected to stabilize at VND115-120 million/ton and are unlikely to rise back to record levels in the new crop season.