Coffee price today October 22, 2024: Slight increase of 100 VND/kg
Today's domestic coffee price, October 22, is at 111,200 - 111,800 VND/kg. Today's coffee price increased slightly by 100 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 111,200 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 111,600 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 111,500 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 111,800 VND/kg in Gia Nghia and 111,700 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 111,600 VND/kg (Chu Prong), in Pleiku and La Grai the price is 111,500 VND/kg.
Today's coffee price in Kon Tum province is purchased at 111,600 VND/kg.
Vietnam, the world’s largest producer of robusta coffee, is facing a crop decline of more than 10% while other countries are having good harvests. Vietnam’s coffee output is forecast to continue to decline next year due to drought and shrinking planting areas as farmers switch to other economic crops. This affects coffee supply, contributing to the recent decline in global coffee prices.
In Dak Nong, one of Vietnam’s major coffee growing regions, farmers are facing severe drought, especially in areas such as Dak Mil, Cu Jut, and Krong No, leading to a sharp drop in coffee yields. However, in areas with adequate irrigation and proper care, coffee yields and quality are higher than in previous years. Weather forecasts indicate that rain will continue into the weekend, making harvesting more difficult.
Local authorities and the agricultural sector are making efforts to encourage farmers to apply technical measures to ensure good yield and quality of the harvest. Dak Nong currently has 140,000 hectares of coffee with an annual output of 240,000 tons, contributing 35% to GRDP and accounting for 80% of the province's export turnover, creating jobs for more than 105,000 workers.
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 142 USD/ton, at 4,560 USD/ton, and for January 2025 delivery decreased by 135 USD/ton, at 4,480 USD/ton.
Arabica coffee price for December 2024 delivery decreased by 6.75 cents/lb, at 250.55 cents/lb, and for March 2025 delivery decreased by 6.55 cents/lb, at 249.45 cents/lb.
In recent weeks, domestic green coffee prices have fallen from VND120,000/kg to around VND110,000/kg, just before the coffee growing areas in the Central Highlands enter the year-end harvest. The VND120,000/kg price, which had been stable for the previous few months, has now dropped continuously over the past three weeks.
Nguyen Nam Hai, chairman of the Vietnam Coffee and Cocoa Association (VICOFA), said this phenomenon usually occurs before the coffee season begins. Another important factor contributing to the decline in coffee prices is the European Union's decision to postpone anti-deforestation regulations in agricultural production, including coffee, for another 12 months, reducing supply pressure.
However, Vietnam's coffee output this year is expected to decrease slightly by about 10% due to the impact of heat and drought in some growing areas in the Central Highlands, causing productivity to decrease compared to previous years.
