Coffee price today November 15, 2024: Coffee price increased by 400 VND/kg
Today's domestic coffee price, November 15, is at 110,500 - 110,800 VND/kg, an increase of 400 VND/kg compared to yesterday. Vietnamese coffee is 'alone in the market'
Domestic coffee prices today
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 110,500 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 110,700 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 110,600 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 110,800 VND/kg in Gia Nghia and 110,700 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 110,700 VND/kg (Chu Prong), in Pleiku and La Grai the price is 110,600 VND/kg.
Today's coffee price in Kon Tum province is purchased at 110,700 VND/kg.
In the domestic market of Vietnam, according to Kon Tum Newspaper, coffee farmers in Kon Tum province are entering the 2024 harvest season, and coffee prices are currently high, making people very excited.
Although this year's coffee gardens were affected by drought, causing the trees to bear fruit unevenly and reducing output, thanks to high purchase prices, growers were still able to partially offset the loss in output.
To get a good price, people wait until the fruit reaches a high percentage of ripeness on the branch before harvesting, or only pick ripe fruit.
Currently, traders come to the garden to buy fresh coffee at 22,000-23,000 VND/kg. The high selling price helps farmers earn more profit than in previous years.
By 2024, Kon Tum will have a total area of over 30,500 hectares of coffee. Newly put into operation gardens yield about 11-12 tons of fresh coffee/ha, while long-standing gardens yield over 20 tons/ha. High coffee prices not only increase income but also motivate people to stick with coffee trees for the long term.
World coffee prices today
At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery increased by 139 USD/ton, at 4,771 USD/ton, and for January 2025 delivery increased by 132 USD/ton, at 4,684 USD/ton.
Arabica coffee prices for December 2024 delivery increased by 5.90 cents/lb to 277.55 cents/lb, and for March 2025 delivery increased by 5.70 cents/lb to 276.90 cents/lb.
Vietnam's Robusta coffee is very popular thanks to its unique flavor, and is rated higher than products from countries such as Brazil, India, Indonesia, etc. Currently, Vietnam is almost "alone" in the world coffee market because other countries have not entered the harvest season. This gives Vietnam the opportunity to maintain good prices.
Mr. Do Ha Nam, Vice President of the Vietnam Coffee and Cocoa Association (VICOFA), said that Robusta coffee accounts for 95% of the coffee growing area in Vietnam and is highly appreciated by international customers. Vietnam's coffee harvest season lasts from early November to late December, a time when many countries do not harvest or harvest very little coffee.
“During the harvest season, Vietnam has almost no competitors and is the preferred choice of customers thanks to its delicious flavor that suits their taste. Therefore, although output will increase sharply during the main harvest season and prices may fluctuate, we still have a certain advantage to expect higher prices than in previous years," Mr. Nam shared.
According to many experts, Brazil – the world’s largest coffee producer – has a crop season from May to September, but due to reduced production, their current inventory is not large. Thus, if Vietnam exports coffee at a reasonable price, the possibility of maintaining good prices is very high, at least in the short term.
