Coffee price today November 12, 2024: Stable domestic price
Today's domestic coffee price, November 12, is at 106,500 - 107,200 VND/kg, stable 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 106,500 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 107,000 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 106,900 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 107,200 VND/kg in Gia Nghia and 107,100 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 107,000 VND/kg (Chu Prong), in Pleiku and La Grai the price is 106,900 VND/kg.
Today's coffee price in Kon Tum province is purchased at 107,000 VND/kg.
The sharp rise in coffee prices has prompted Vietnam to expand its coffee growing area and increase its productivity. Despite the shortage of Robusta coffee, domestic coffee prices are now at a record high in more than 30 years. As a result, despite the decrease in coffee exports, Vietnam's export revenue in the 2023/24 crop year will still reach 5.43 billion USD.
Forecasts show that coffee production will reach about 26-27 million bags, lower than the forecast of the US Department of Agriculture. Coffee growing area is expected to reach 718,000 hectares by the end of 2023 and will continue to increase in 2024.
According to experts, the pressure from Vietnam's new crop will cause coffee prices to fall. However, the US Federal Reserve's interest rate cut last week has had a positive impact on the market. Investors are waiting for clearer signals on the policies of Mr. Trump, who just declared victory in the US presidential election. This situation could cause capital to shift to speculative exchanges, including coffee, and create a basis for an upward trend this week.
In addition, an important factor that could have a strong impact on coffee prices next week is the EU's decision on November 13-14 on the implementation date of the European Deforestation Regulation (EUDR).
The market is currently divided into two opinions: One side believes that the EU should implement the EUDR on schedule to maintain its commitments on climate change (IPCC), while the other side proposes to postpone the implementation of this regulation as proposed by the European Commission (EC).
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 13 USD/ton, at 4,363 USD/ton, and for January 2025 delivery was stable, at 4,318 USD/ton.
Arabica coffee price for December 2024 delivery increased by 1.25 cents/lb, at 254.60 cents/lb, and for March 2025 delivery increased by 1.40 cents/lb, at 254.50 cents/lb.
The top coffee-producing countries all recorded growth in coffee exports in October compared to the same period last year. The Brazilian government reported exporting more than 270,300 tons of green coffee, up nearly 12%. Colombia produced 1.33 million 60-kg bags, up 16%, of which exports reached 1.04 million bags, up 15%. Honduras exported more than 35,200 60-kg bags, up 41.7%, while Vietnam is estimated to have exported more than 44,000 tons, up 1.5%.
These data suggest that global coffee supplies are stabilizing, easing upward pressure on prices. Coffee inventories in Europe are also improving thanks to recent increases in imports. According to the European Coffee Federation (ECF), coffee inventories in the European Union (EU) reached 8.85 million 60kg bags at the end of August, marking the fifth consecutive month of increase.
The International Coffee Organization (ICO) also said that global coffee exports in September reached nearly 10.8 million bags, up 24.9% compared to September 2023. In total for the 2023-2024 crop year, global coffee exports reached 137.3 million bags, up 11.7% compared to the previous crop year.
