Coffee price today November 17, 2024: Weekend slight decrease of 200 VND
Today's domestic coffee price, November 17, is at 112,800 - 113,400 VND/kg, a slight decrease of 100 to 200 VND/kg over the weekend 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 112,800 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 113,200 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 113,100 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 113,400 VND/kg in Gia Nghia and 113,300 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 113,100 VND/kg (Chu Prong), in Pleiku and La Grai the price is 113,000 VND/kg.
Today's coffee price in Kon Tum province is purchased at 113,100 VND/kg.
Although coffee prices are high and it is harvest season, the slight increase in prices is still surprising. However, coffee purchasing is facing many difficulties because growers expect prices to increase by the end of the year, so they do not want to sell early.
In addition, many gardeners have income from other products such as durian and pepper, so their finances are abundant. Some have also turned to buying coffee for storage as an investment, making the supply not as abundant as in previous years, even though it is the peak harvest season. This contributes to pushing coffee prices higher.
At this time, farmers in the Southeast and Central Highlands have begun the coffee harvest with a small yield but prices are stable at a high level. However, in Dak Nong, many farmers are worried about labor shortages, theft or price drops, so they harvest en masse when the fruit ripeness rate has not reached the required level. This affects the quality of the coffee.
To ensure proper harvesting, processing and preservation of coffee, the Department of Agriculture and Rural Development of Dak Nong has instructed farmers and localities to be proactive in terms of time and human resources. According to recommendations, coffee should only be harvested when the fruit ripens to 80-90%. At the same time, people should avoid picking the whole bunch of fruit along with leaves and small branches, to protect the quality of branches reserved for the next crop.
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 4 USD/ton, at 4,773 USD/ton, and for January 2025 delivery increased by 4 USD/ton, at 4,699 USD/ton.
Arabica coffee prices for December 2024 delivery increased by 2.85 cents/lb to 281.80 cents/lb, and for March 2025 delivery increased by 3.90 cents/lb to 283.30 cents/lb.
Coffee prices on two derivatives exchanges surged this week, with arabica hitting a 13-year high and robusta hitting a one-month high, driven mainly by concerns about supply being affected by adverse weather in Brazil and slow harvest progress in Vietnam.
In Brazil, producers are holding back coffee in hopes of further price increases. This expectation is fueled by uncertainty over the 2024-25 crop, which has been hit hard by a prolonged drought. Forecasts for continued hot and dry weather in Minas Gerais, the country’s largest arabica-producing region, have added to concerns and pushed up arabica prices.
In Vietnam, recent bad weather has slowed down the harvest, even though it is currently the peak of the season.
In addition, the market continued to rise despite the EU’s decision to delay the implementation of the EUDR by one year, as speculators pushed up coffee prices while Brazilian farmers tightened supply due to the weakening of the domestic currency against the USD.
