Coffee price today October 14, 2024: Down for the second consecutive week
Today, October 14, domestic coffee prices are at 113,000 - 113,700 VND/kg. Domestic and world coffee prices recorded the second consecutive week of price decline.
Domestic coffee prices today
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 113,000 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 113,600 VND/kg. In Ea H'leo district (Dak Lak), Buon Ho (Dak Lak), the coffee price today is purchased at the same level of 113,500 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 113,700 VND/kg in Gia Nghia and 113,600 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 113,600 VND/kg (Chu Prong), in Pleiku and La Grai the price is 113,500 VND/kg.
Today's coffee price in Kon Tum province is purchased at 113,600 VND/kg.
Producers in Asia, from Malaysia's palm oil industry to Vietnam's coffee industry, have welcomed the European Union's (EU) delay in implementing anti-deforestation laws.
The year-long delay has drawn protests from environmental groups, but also eased pressure on many governments and industries.
The new EU rules, aimed at preventing imports of deforestation-causing products, have been criticized as disruptive and requiring too many complicated procedures, making it difficult for small producers. Trinh Duc Minh, chairman of the Buon Ma Thuot Coffee Association, said the decision to postpone was “necessary and reasonable,” and noted that coffee prices could fall due to pre-emptive stockpiling.
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 86 USD/ton, at 4,828 USD/ton, and for January 2025 delivery decreased by 64 USD/ton, at 4,678 USD/ton.
Arabica coffee price for December 2024 delivery decreased by 2.70 cents/lb, at 252.05 cents/lb, and for March 2025 delivery decreased by 2.70 cents/lb, at 250.75 cents/lb.
Robusta coffee prices for November delivery fell by $241 per ton this week. Arabica coffee prices for December delivery also fell by 5.3 cents per lb. Domestically, coffee prices fell by around VND2,500 to VND3,000 per kg.
This is the second consecutive week of declines for coffee. Last week, Robusta coffee prices for November delivery fell more sharply, down $415/ton. Arabica coffee prices for December delivery also fell 11.8 cents/lb. Domestic coffee prices fell by an average of VND6,000/kg.
The main reason for the decline in coffee prices last week was the weakening of the Brazilian real. The real fell to a one-month low on the last trading day of the week. Brazilian coffee producers increased selling to the market. New coffee supplies from Vietnam decreased as the coffee harvest season began in the Central Highlands provinces. The difference between November Robusta and December Arabica coffee prices between the London and New York markets has narrowed, currently at 31.85 cents per pound. This shows that Robusta coffee prices are on an upward trend again.
