Coffee price today 11/1/2024: Up 600 VND/kg
Today's domestic coffee price, November 1, is at 108,800 - 109,200 VND/kg, up 600 VND/kg compared to yesterday. Coffee prices this week have been fluctuating.
Domestic coffee prices today
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 108,800 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 109,200 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 109,100 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 109,200 VND/kg in Gia Nghia and 109,100 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 109,100 VND/kg (Chu Prong), in Pleiku and La Grai the price is 109,000 VND/kg.
Today's coffee price in Kon Tum province is purchased at 109,100 VND/kg.
Since the beginning of 2024, the price of green coffee has continuously increased, surpassing the 100,000 VND/kg mark, reaching an all-time high. This has brought joy to coffee growers in Dak Nong, as the high price has contributed to significantly improving their lives.
According to data from the Department of Agriculture and Rural Development of Dak Nong province, the total coffee area in the province in 2024 is about 143,000 hectares, of which the harvested area is 131,000 hectares. The average yield is estimated at about 26.2 quintals/ha, with a total expected output of 343,540 tons, down 1.51 quintals/ha compared to 2023, and the total output decreased by about 16,000 tons. The main reason is the prolonged heat wave and water shortage in the first months of the year, coinciding with the flowering and fruiting stage of coffee, causing many coffee gardens to wither leaves, dry flowers, and young fruits, leading to a decrease in productivity and output.
Although productivity and output have decreased somewhat compared to the previous year, the continuous increase in coffee prices and the improvement in coffee quality have helped coffee growers in Dak Nong improve their economy, have more capital to reinvest and take better care of their coffee trees. This also helps them to stick with coffee trees and not switch to other crops.
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 37 USD/ton, at 4,416 USD/ton, and for January 2025 delivery decreased by 39 USD/ton, at 4,324 USD/ton.
Arabica coffee prices for December 2024 delivery decreased by 2.55 cents/lb, to 247.05 cents/lb, and for March 2025 delivery decreased by 2.45 cents/lb, to 246.60 cents/lb.
The Vietnam Coffee and Cocoa Association (VICOFA) report on coffee export turnover in the 2023-2024 crop year (from October 2023 to October 2024) shows that Vietnam exported about 1.46 million tons of coffee, down more than 12.1% compared to the 2022-2023 crop year. Although the export volume decreased, the export value still increased sharply thanks to high coffee prices.
According to VICOFA, the value of coffee exports increased by more than 33% compared to the previous crop year, reaching more than 5.4 billion USD. The high coffee prices helped to offset the decline in output, contributing significantly to Vietnam's export turnover last year. This is a positive sign for coffee growers and the coffee industry in general.
In the 2023-2024 crop year, coffee prices in Vietnam will continue to peak, reaching the highest level in the past 30 years. According to a survey by Tien Phong reporters on October 30, raw coffee prices in the Central Highlands ranged from 105-109 million VND/ton, while at the same time last year they were only about 58-59 million VND/ton. VICOFA forecasts that coffee prices in the 2024-2025 crop year will continue to remain high.
