Coffee price today November 16, 2024: Increased to 114,000 VND/kg
Today's domestic coffee price, November 16, is 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, Bao Loc districts (Lam Dong), today's coffee price is purchased at 113,500 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 113,800 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 113,700 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 114,000 VND/kg in Gia Nghia and 113,900 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 113,700 VND/kg (Chu Prong), in Pleiku and La Grai the price is 113,600 VND/kg.
Today's coffee price in Kon Tum province is purchased at 113,700 VND/kg.
Amid supply concerns, BMI analysts predict the coffee market will remain tight into 2025, and average Arabica coffee prices will rise that year.
Some experts say the rise in coffee prices is partly due to concerns about the possibility of Donald Trump raising tariffs on imported goods, which has prompted buyers to rush imports early to avoid the new taxes.
In addition, the drought in early 2024 also negatively affected the coffee crop in Vietnam, causing many to predict a decrease in output. In addition, the trend of crop conversion or intercropping in coffee gardens also contributed to the decrease in output.
However, not all coffee growing areas have been adversely affected. Some areas have achieved good yields thanks to adequate irrigation and careful care by farmers. Therefore, Vietnam's coffee output this year is still unclear.
Notably, over the past year, coffee prices have increased sharply, surpassing the increase of gold. In just one year, the price has doubled and even tripled in two years. This has attracted many people to choose coffee as an investment channel with the expectation of high profits, despite facing many risks.
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 6 USD/ton, at 4,783 USD/ton, and for January 2025 delivery increased by 11 USD/ton, at 4,706 USD/ton.
Arabica coffee prices for December 2024 delivery increased by 0.70 cent/lb to 279.65 cent/lb, and for March 2025 delivery increased by 0.95 cent/lb to 280.35 cent/lb.
On November 13-14, the European Parliament (EP) approved the European Commission’s proposal to postpone the implementation of the EU Deforestation Regulation (EUDR) for another 12 months. At the same time, the EP also sought to relax the ban on imports of deforestation-related products such as beef and soybeans. With the new roadmap, imports will temporarily slow down, helping the world’s coffee supply and demand tend to be more balanced, especially when Vietnam is preparing to introduce new supplies.
The EPP group has put forward 15 proposed amendments, including extending the deferral period to two years, creating a list of “non-risk” countries and waiving most reporting obligations for traders.
The proposed changes, which the group says are aimed at reducing unnecessary administrative burdens and avoiding additional costs, are supported by a number of conservative and independent groups, comunicaffe reported.
