Coffee price today October 17, 2024: Reversal down 1,000 VND/kg
Today's domestic coffee price, October 17, is at 113,300 - 113,900 VND/kg. Today's coffee price has decreased by 1,000 VND/kg 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 113,300 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 113,700 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 113,600 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 113,900 VND/kg in Gia Nghia and 113,800 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 113,800 VND/kg (Chu Prong), in Pleiku and La Grai the price is 113,700 VND/kg.
Today's coffee price in Kon Tum province is purchased at 113,800 VND/kg.
Son La is the leading province in Vietnam in growing Arabica coffee, accounting for 40% of the coffee area with more than 23,000 hectares. This year, the coffee bean yield in Son La is estimated to reach 1 to 2 tons/ha. The current price of fresh coffee is from 15,000 to 20,000 VND/kg, up from 10,000 to 15,000 VND/kg last year.
In the Central Highlands, the price of green coffee is currently between 113,300 - 113,900 VND/kg, double that of early October 2023. This is the first time that coffee prices in Vietnam have started a crop year with a price above 100,000 VND/kg.
The Vietnam Coffee and Cocoa Association forecasts that coffee prices may increase due to reduced supply and weather impacts. Vietnam’s coffee exports may reach $5 billion this year, a new record. The decline in output and increased global demand for Robusta coffee are the main reasons for the strong fluctuations in domestic coffee prices.
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 46 USD/ton, at 4,863 USD/ton, and for January 2025 delivery decreased by 40 USD/ton, at 4,738 USD/ton.
Arabica coffee prices for December 2024 delivery decreased by 0.75 cents/lb, to 255.95 cents/lb, and for March 2025 delivery decreased by 0.65 cents/lb, to 254.85 cents/lb.
A new report from Mordor Intelligence says the global coffee market is booming, with an estimated value of $132.13 billion by 2024. The market is forecast to grow to $166.39 billion by 2029, at a CAGR of 4.72%. This growth is driven by rising demand for coffee among young people, especially in countries such as India, Italy, the United States, China, Japan, and the Philippines.
Coffee is one of Vietnam's key export commodities, regularly on the list of billion-dollar export items. As of the first 9 months of 2024, Vietnam exported 1.12 million tons of coffee, with a total value of up to 4.37 billion USD, up 40% over the same period last year. This is the first time Vietnam's coffee exports have surpassed the 4 billion USD threshold in just three quarters.
One of the main reasons for this growth is the high export price of coffee, with the average price in the first 9 months of 2024 being 3,897 USD/ton, up 56% compared to the previous year. In September alone, the export price of coffee reached 5,469 USD/ton, up 65% compared to September 2023.
