Coffee price today October 23, 2024: Slight decrease of 200 VND.
Today's domestic coffee price, October 23, is at 111,000 - 111,600 VND/kg. Today's coffee price decreased slightly by 200 VND/kg compared to yesterday. World coffee prices continued to drop sharply to 3 digits.
Domestic coffee prices today
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 111,000 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 111,400 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 111,300 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 111,600 VND/kg in Gia Nghia and 111,500 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 111,400 VND/kg (Chu Prong), in Pleiku and La Grai the price is 111,300 VND/kg.
Today's coffee price in Kon Tum province is purchased at 111,400 VND/kg.
At the end of October, many coffee areas in Dak Nong province entered the harvest preparation stage, causing theft to increase. This year, the price of fresh coffee has doubled compared to last year, causing the situation of stealing green coffee. The theft mainly occurs at night when the subjects take advantage of the time when people are not paying attention to carry out the act.
According to coffee growers, theft occurs every year and is concentrated during the harvest season. Thieves often scout the terrain and monitor people’s activities to plan their activities. They also observe vehicles and security equipment before committing theft, causing damage to many households.
To prevent this situation, the local government of Nghia Thang commune, Dak R'lap district has stepped up propaganda, mobilizing people to be vigilant and protect their property. A night patrol team has been established to ensure security, and agricultural product purchasing agents have also been called upon not to purchase coffee of unknown origin. Coffee plays an important role in the economy and life of many households in Dak Nong.
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 102 USD/ton, at 4,475 USD/ton, and for January 2025 delivery decreased by 92 USD/ton, at 4,411 USD/ton.
Arabica coffee price for December 2024 delivery decreased by 2.50 cents/lb, at 249.20 cents/lb, and for March 2025 delivery decreased by 2.45 cents/lb, at 248.00 cents/lb.
Robusta coffee prices continued to fall sharply, far from the record of 4,665 USD/ton recorded in September. Currently, many coffee plantations in the Central Highlands have ripened and people have entered the harvest season, increasing supply and putting downward pressure on prices. Although coffee prices are still above 100,000 VND/kg, the recent continuous decline has made many people worried.
It is expected that in the 2024-2025 crop year, Dak Nong province will harvest about 131,000 hectares of coffee, requiring 15.2 million workers. However, the local labor force only meets about 47.5% of the demand, forcing laborers to be attracted from other places. The lack of labor not only affects the progress but also reduces the quality of coffee because the harvest cannot take place at the right time and is often done only once instead of many times.
In addition, this year's high coffee prices, combined with labor shortages, have led to coffee theft from the plantations early in the season. Labor shortages may also lead to higher labor costs, making it more difficult for coffee growers.
