Coffee price today November 18, 2024: Increased by more than 6,000 VND/kg last week

Domestic coffee prices today

Coffee prices in the Central Highlands ranged from VND112,800 to VND113,400 per kilogram, up 6% (equivalent to VND6,100 to VND6,300 per kilogram) compared to the beginning of last week. This is the highest price in the past month.

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.

Mr. Ly Thong Ha, a long-time coffee farmer in Di Linh district, Lam Dong province, said he has never witnessed such a sharp increase in coffee prices right at the peak harvest time like this year. According to Mr. Ha, the price of fresh coffee in Lam Dong is currently being purchased from 20,000 - 22,000 VND/kg. With the rate of 4 - 4.5 kg of fresh coffee to process into 1 kg of coffee beans, growers are making a profit of 60 - 70%, which means 1 capital 2 profits.

Speaking to Nguoi Lao Dong Newspaper, Mr. Do Ha Nam, Chairman of the Board of Directors and General Director of Intimex Group Corporation and Vice Chairman of the Vietnam Coffee and Cocoa Association (VICOFA), emphasized the important role of Vietnamese farmers in regulating coffee prices. Mr. Nam said that the average price of green coffee beans of about 110,000 VND/kg is the "dream" number that the coffee industry has been aiming for for many years.

However, Mr. Nam also noted that the price of Vietnamese Robusta coffee is currently considered too high by importers. In the short term, importers still need Vietnamese coffee because consumers are familiar with its distinctive flavor. But if prices remain high for too long, importers may adjust their product formulas, causing consumers to get used to the new flavor and reducing demand for Vietnamese coffee.

"Therefore, a reasonable price, around VND100,000/kg, will be a solution that harmonizes the interests of farmers, exporters and the market, while helping Vietnamese coffee develop sustainably," Mr. Nam shared.

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.

Arabica coffee prices are currently trading above 280 cents per pound, reaching a 13-year high since mid-2011. Robusta coffee prices are at a one-month high, mainly due to concerns about future global supplies.

One of the factors driving up coffee prices is the European Parliament’s decision to change deforestation regulations. If the EU fails to reach a final agreement by next month’s deadline, the law will be enforced, requiring importers to ensure that coffee products are not produced on deforested land after 2020.

The new regulation (EUDR) could reduce supply from Brazil and Indonesia - where deforestation is severe, contributing to higher prices on the market.

In addition, adverse weather in Brazil, the world’s top coffee producer, has also added to supply concerns. Despite recent rains, soil moisture remains low, leading to poor berry development and excessive leaf growth.

In addition, forecasts for prolonged hot and dry weather in Minas Gerais, Brazil's main Arabica coffee growing region, continue to push coffee prices higher.

Arabica prices hit a three-week high on Monday, November 11, 2024, hitting 258.7 cents per pound. Robusta coffee prices also surged, hitting $4,490 per tonne in the same trading session on the same day. The main reason is believed to be the continued poor supply forecast for 2025.

At the end of the week, December Arabica coffee prices closed at 281.80 cents/pound, while Robusta prices reached 4,773 USD/ton. Technically, Robusta prices are considered to have just started an uptrend.