Coffee price today September 10, 2024: Slight decrease to 600 VND/kg

Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 117,700 VND/kg.

In Cu M'gar district (Dak Lak), the coffee price today is at 118,200 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 118,100 VND/kg.

Similarly in Dak Nong province, today's coffee purchase price is at 118,300 VND/kg in Gia Nghia and 118,200 VND/kg in Dak R'lap.

In Gia Lai province, coffee price today is at 118,300 VND/kg (Chu Prong), in Pleiku and La Grai the price is 118,200 VND/kg.

Today's coffee price in Kon Tum province is purchased at 118,300 VND/kg.

The domestic coffee market decreased by an average of 400 VND/kg. Dak Nong province had the largest decrease of 600 VND/kg. The highest domestic coffee price was 118,300 VND/kg in Gai Lai and Dak Nong.

According to the International Coffee Organization, global coffee exports increased by 12.2% in July to 11.29 million bags. From October 2023 to July 2024, global coffee exports increased by 10.5% to 115.01 million bags.

Vietnam’s Import-Export Department predicts that coffee exports will decline in the remaining months of the third quarter due to supply constraints. Coffee supplies are expected to increase again in October, when the 2024-2025 coffee harvest begins.

Experts predict that coffee production will decline next season due to unfavorable weather conditions and reduced planting areas. With no inventories left from the 2023-2024 crop, coffee supplies are expected to remain tight. However, speculation and price inflation are likely to ease next year as coffee prices are already high.

At the end of the most recent trading session, the price of Robusta coffee in London for September 2024 delivery increased by 75 USD/ton, at 4,845 USD/ton, and for November 2024 delivery increased by 76 USD/ton, at 4,631 USD/ton.

Arabica coffee price for September 2024 delivery increased by 7.55 cents/lb, at 243.55 cents/lb, and for December 2024 delivery increased by 7.25 cents/lb, at 241.70 cents/lb.

The EUDR regulation requires importers to verify that agricultural products such as coffee and beef do not come from land cleared after 2020.

Due to the lack of specific information, many companies feel confused and unprepared to comply with this regulation. When the EUDR comes into effect, it is likely that the coffee supply in Europe will be affected.

Europe’s coffee supply relies on small farmers worldwide, making it challenging to ensure compliance with the EUDR. Traders are scrambling to import as much coffee as possible before the EUDR comes into effect at the end of 2024.