Coffee prices today, September 10, 2024: Slightly decreased by up to 600 VND/kg.

Specifically, in Di Linh, Lam Ha, and Bao Loc districts (Lam Dong province), the price of coffee today is being purchased at 117,700 VND/kg.

In Cu M'gar district (Dak Lak), the price of coffee today is 118,200 VND/kg. In Ea H'leo district (Dak Lak) and Buon Ho (Dak Lak), the price of coffee today is the same at 118,100 VND/kg.

Similarly, in Dak Nong province, today's coffee prices are being purchased at 118,300 VND/kg in Gia Nghia and 118,200 VND/kg in Dak R'lap.

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

Meanwhile, the price of coffee today in Kon Tum province is being purchased at 118,300 VND/kg.

The domestic coffee market saw an average decrease of 400 VND/kg. Dak Nong province experienced the largest drop, at 600 VND/kg. The highest domestic coffee prices were recorded at 118,300 VND/kg in Gia Lai and Dak Nong.

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

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

Experts predict a decrease in next season's coffee crop due to unfavorable weather conditions and reduced planting area. With no remaining stock from the 2023-2024 crop, coffee supply is expected to remain scarce. However, speculation and price manipulation are likely to decrease next year as coffee prices are already high.

At the close of the most recent trading session, Robusta coffee prices in London for September 2024 delivery rose by $75/ton to $4,845/ton, and for November 2024 delivery rose by $76/ton to $4,631/ton.

Arabica coffee prices for September 2024 delivery increased by 7.55 cents/lb to 243.55 cents/lb, while December 2024 delivery increased by 7.25 cents/lb to 241.70 cents/lb.

The EUDR regulations require importers to verify that agricultural products such as coffee and beef do not come from forest land destroyed after 2020.

Due to a 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 coffee supplies in Europe will be affected.

Europe's coffee supply relies on small-scale global farmers, creating a challenge in ensuring compliance with the EUDR. Traders are striving to import as much coffee as possible before the EUDR comes into effect at the end of 2024.