Coffee price today October 12, 2024: Continue to increase slightly
Today's domestic coffee price, October 12, is at 113,300 - 114,100 VND/kg, coffee price continues to increase slightly by 500 to 600 VND/kg compared to yesterday.
Domestic coffee prices today
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 113,300 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 114,000 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 113,900 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 114,100 VND/kg in Gia Nghia and 114,000 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 114,000 VND/kg (Chu Prong), in Pleiku and La Grai the price is 113,900 VND/kg.
Today's coffee price in Kon Tum province is purchased at 114,000 VND/kg.
Although the price of coffee raw materials is increasing, there is no need to worry too much about coffee becoming a luxury item. Mr. Nguyen Huu Long, Director of VCA, said that coffee is still a high-profit, low-cost business.
Raw coffee costs around VND120,000/kg, which allows for the production of 50 to 100 cups of coffee, at a cost of VND2,000 to VND4,000 per cup. Large coffee chains such as Highlands, Phuc Long, and The Coffee House charge VND30,000 to VND40,000 per cup, even when raw material prices have increased.
Experts recommend that coffee shops should adjust their prices carefully so as not to lose customers due to price sensitivity.
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 31 USD/ton, at 4,862 USD/ton, and for January 2025 delivery decreased by 28 USD/ton, at 4,706 USD/ton.
Arabica coffee prices for December 2024 delivery decreased by 1.05 cents/lb to 253.70 cents/lb, and for March 2025 delivery decreased by 1.30 cents/lb to 252.15 cents/lb.
Coffee prices are currently volatile and heavily influenced by speculators, making it extremely difficult to predict prices. Companies need to be cautious about buying and selling at high prices, and coffee prices are expected to remain high, above $4,000/ton for the next five years.
Global coffee consumption habits are changing, with consumers increasingly favoring organic coffee for its health benefits. To adapt to this trend, coffee producers need to innovate their products.
Commodity markets have been relatively quiet recently due to tensions in the Middle East, with investors awaiting financial data from the US to gauge the likelihood of a second rate cut.
