Coffee prices today, October 23, 2024: Slightly decreased by 200 VND.
Today, October 23rd, domestic coffee prices are at 111,000 - 111,600 VND/kg. This is a slight decrease of 200 VND/kg compared to yesterday. World coffee prices continue to fall sharply, by three digits.
Domestic coffee prices today
Specifically, in Di Linh, Lam Ha, and Bao Loc districts (Lam Dong province), the price of coffee today is being purchased at 111,000 VND/kg.
In Cu M'gar district (Dak Lak), the price of coffee today is 111,400 VND/kg. In Ea H'leo district (Dak Lak) and Buon Ho (Dak Lak), the price of coffee today is the same at 111,300 VND/kg.
Similarly, in Dak Nong province, today's coffee prices are being purchased at 111,600 VND/kg in Gia Nghia and 111,500 VND/kg in Dak R'lap.
In Gia Lai province, today's coffee price is 111,400 VND/kg (Chu Prong), while in Pleiku and La Grai it is 111,300 VND/kg.
Meanwhile, the price of coffee today in Kon Tum province is being purchased at 111,400 VND/kg.
In late October, many coffee plantations in Dak Nong province entered the harvesting stage, leading to an increase in theft. This year, the price of fresh coffee has doubled compared to last year, resulting in the theft of unripe coffee beans. The thefts mainly occur at night, when perpetrators take advantage of people's inattention to commit the crime.
According to coffee farmers, theft occurs annually and is concentrated during the harvest season. Thieves usually scout the area and monitor people's activities to plan their operations. They also observe vehicles and security equipment before committing thefts, causing losses to many households.
To prevent this situation, the local authorities of Nghia Thang commune, Dak R'lap district, have intensified propaganda and mobilization efforts to encourage people to be vigilant and protect their property. A night patrol team has been established to ensure security, and agricultural product purchasing agents have been urged not to buy coffee of unknown origin. Coffee plays a crucial role in the economy and livelihoods of many households in Dak Nong.
World coffee prices today
At the close of the most recent trading session, Robusta coffee prices in London for November 2024 delivery fell by $102/ton to $4,475/ton, and for January 2025 delivery fell by $92/ton to $4,411/ton.
Arabica coffee prices for December 2024 delivery fell by 2.50 cents/lb to 249.20 cents/lb, and for March 2025 delivery fell by 2.45 cents/lb to 248.00 cents/lb.
Robusta coffee prices continue to fall sharply, moving away from the record high of $4,665 per ton recorded in September. Currently, many coffee plantations in the Central Highlands have ripened, and farmers are entering the harvest season, increasing supply and putting downward pressure on prices. Although coffee prices remain above 100,000 VND/kg, the recent continuous decline has caused concern among many.
For the 2024-2025 crop year, Dak Nong province is expected to harvest approximately 131,000 hectares of coffee, requiring 15.2 million man-hours of labor. However, the local workforce only meets about 47.5% of the demand, necessitating the recruitment of labor from other areas. This labor shortage not only affects the harvesting schedule but also reduces the quality of the coffee, as harvesting cannot be done at the right time and is often only carried out once instead of multiple times.
Furthermore, this year's high coffee prices, coupled with labor shortages, have led to coffee theft from plantations right from the start of the season. The labor shortage could also drive up labor costs, adding to the difficulties faced by coffee growers.
