Coffee price today November 22, 2024: Sharp increase to 1,800 VND/kg
Today's domestic coffee price, November 22, is at 114,800 - 115,300 VND/kg, a sharp increase of 1,700 - 1,800 VND/kg compared to yesterday. World coffee prices skyrocketed due to supply concerns.
Domestic coffee prices today
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 114,800 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 115,300 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 115,200 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 115,300 VND/kg in Gia Nghia and 115,200 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 115,200 VND/kg (Chu Prong), in Pleiku and La Grai the price is 115,100 VND/kg.
Today's coffee price in Kon Tum province is purchased at 115,200 VND/kg.
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 10 USD/ton, at 4,788 USD/ton, and for January 2025 delivery decreased by 8 USD/ton, at 4,734 USD/ton.
Arabica coffee prices for December 2024 delivery increased by 0.80 cent/lb to 291.70 cent/lb, and for March 2025 delivery increased by 0.90 cent/lb to 289.35 cent/lb.
According to expert Nguyen Quang Binh, the sharp increase in coffee prices was due to hedge funds buying in after the previous sell-off. At the same time, concerns about supply in Brazil and Vietnam - the world's two leading coffee producing countries - also contributed to the price increase.
In Brazil, lower-than-average rainfall since April has damaged coffee plants during the flowering stage, dampening prospects for the 2025-2026 Arabica crop. According to StoneX consultancy, Brazil's Arabica output this season will fall 10.5% compared to the previous season, reaching only 40 million bags (60kg/bag).
In Vietnam, coffee production has declined in recent years due to severe weather. It is forecast that the 2024-2025 crop year could decrease by 10-15%, affecting exports. Currently, although the main harvest is underway, the coffee industry still faces risks from the La Niña phenomenon, which can cause heavy rains that disrupt harvests and reduce output.
