Coffee prices today, November 16, 2024: Increased to 114,000 VND/kg
Today, November 16th, domestic coffee prices are at 113,500 - 114,000 VND/kg, continuing to increase by 2,700 to 2,800 VND/kg compared to yesterday, due to the impact of the USD exchange rate.
Domestic coffee prices today
Specifically, in Di Linh, Lam Ha, and Bao Loc districts (Lam Dong province), the price of coffee today is being purchased at 113,500 VND/kg.
In Cu M'gar district (Dak Lak), the price of coffee today is 113,800 VND/kg. In Ea H'leo district (Dak Lak) and Buon Ho (Dak Lak), the price of coffee today is the same at 113,700 VND/kg.
Similarly, in Dak Nong province, today's coffee prices are being purchased at 114,000 VND/kg in Gia Nghia and 113,900 VND/kg in Dak R'lap.
In Gia Lai province, today's coffee price is 113,700 VND/kg (Chu Prong), while in Pleiku and La Grai it is 113,600 VND/kg.
Meanwhile, the price of coffee today in Kon Tum province is being purchased at 113,700 VND/kg.
Amid concerns about supply, BMI analysts predict the coffee market will remain tight in 2025, and the average price of Arabica coffee will increase that year.
Some experts believe that the rise in coffee prices is partly due to concerns about the possibility of Donald Trump increasing tariffs on imported goods. This has prompted buyers to accelerate imports early to avoid the new tariffs.
Furthermore, the drought conditions at the beginning of 2024 also negatively impacted the coffee crop in Vietnam, leading many to predict a decrease in production. In addition, the trend of crop diversification or intercropping in coffee plantations also contributed to the reduction in yield.
However, not all coffee-growing regions have been negatively affected. Some areas, thanks to adequate irrigation and careful farming practices, have achieved good yields. Therefore, Vietnam's coffee production this year remains uncertain.
Notably, over the past year, coffee prices have surged, surpassing even the increase in gold prices. In just one year, prices have doubled, and in two years, they have even tripled. This has attracted many people to choose coffee as an investment channel with the expectation of high returns, despite facing considerable risks.
World coffee prices today
At the close of the most recent trading session, Robusta coffee prices in London for November 2024 delivery rose by $6/ton to $4,783/ton, and for January 2025 delivery rose by $11/ton to $4,706/ton.
Arabica coffee prices for December 2024 delivery increased by 0.70 cents/lb to 279.65 cents/lb, while prices for March 2025 delivery increased by 0.95 cents/lb to 280.35 cents/lb.
On November 13-14, the European Parliament (EP) approved the European Commission's proposal to postpone the implementation of the Anti-Deforestation Regulation (EUDR) for another 12 months. At the same time, the EP also sought to ease import bans on items linked to deforestation, such as beef and soybeans. With this new roadmap, imports will temporarily slow down, helping to balance global coffee supply and demand, especially as Vietnam prepares to introduce new sources of supply.
The EPP group has put forward 15 proposed amendments. Among them, they proposed extending the deadline to two years, creating a list of "risk-free" countries, and exempting traders from most reporting obligations.
According to this group, the proposed changes aim to reduce unnecessary administrative burdens and avoid incurring additional costs. These ideas are receiving support from some conservative and independent groups, according to comunicaffe.
