Coffee price today October 2, 2024: Slight increase of 100 VND
Today's domestic coffee price, October 2, is at 121,000 - 122,100 VND/kg, coffee prices increased slightly by 100 VND/kg in localities compared to yesterday. Dak Lak organizes the 9th Buon Ma Thuot Coffee Festival
Domestic coffee prices today
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 121,100 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 122,100 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 122,000 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 121,200 VND/kg in Gia Nghia and 121,100 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 121,000 VND/kg (Chu Prong), in Pleiku and La Grai the price is 120,900 VND/kg.
Today's coffee price in Kon Tum province is purchased at 121,000 VND/kg.
The Dak Lak Provincial People's Committee will organize the 9th Buon Ma Thuot Coffee Festival in 2025, from March 9 to 13. This event celebrates the 50th anniversary of the victory and liberation of Buon Ma Thuot (March 10, 1975 - March 10, 2025).
The festival aims to celebrate cultural heritage, foster community spirit and promote local coffee brands. Activities will include celebrating coffee growers and processors, and promoting investment in the coffee industry.
The festival also introduces the traditional culture of ethnic groups in Dak Lak, including the Central Highlands Gong Cultural Space. This event will attract domestic and foreign tourists, contributing to the development of tourism and agriculture in the province.
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 98 USD/ton, at 5,400 USD/ton, and for January 2025 delivery decreased by 85 USD/ton, at 5,140 USD/ton.
Arabica coffee prices for December 2024 delivery decreased by 6.55 cents/lb, to 263.70 cents/lb, and for March 2025 delivery decreased by 6.30 cents/lb, to 261.65 cents/lb.
Every year, when the third quarter comes, people in the Central Highlands begin harvesting coffee. This year, due to prolonged drought, coffee output is expected to decrease by 10-15%. Drought reduces the size of coffee berries and beans, leading to reduced productivity.
However, the current coffee price is very high, reaching a record of 120,000 VND/ton, three times higher than the average. With the current coffee price, coffee growers can rest assured and invest long-term in coffee trees.
In Lam Dong and Dak Lak, coffee has begun to ripen early. Although production has decreased due to drought, high coffee prices have helped growers earn better incomes than last year. It is expected that from the end of October 2024, when Vietnam enters the harvest season, coffee production will increase and exports could reach $6 billion.
