Coffee price today November 23, 2024: Slight increase to over 115,000 VND/kg
Today's domestic coffee price, November 23, is at 115,000 - 115,500 VND/kg, a slight increase of 200 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 115,000 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 115,500 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 115,400 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 115,500 VND/kg in Gia Nghia and 115,400 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 115,400 VND/kg (Chu Prong), in Pleiku and La Grai the price is 115,300 VND/kg.
Today's coffee price in Kon Tum province is purchased at 115,400 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 increased by 18 USD/ton, at 4,805 USD/ton, and for January 2025 delivery increased by 14 USD/ton, at 4,746 USD/ton.
Arabica coffee price for December 2024 delivery increased by 1.05 cents/lb, to 296.75 cents/lb, and for March 2025 delivery increased by 1.10 cents/lb, to 295.65 cents/lb.
According to the Vietnam Coffee and Cocoa Association (Vicofa), in the first half of November, Vietnam exported 20,933 tons of coffee, reaching 121.8 million USD, down 44.8% in volume but up 1.8% in value compared to the same period last year. From the beginning of the year to November 15, coffee exports reached 1.17 million tons, earning 4.7 billion USD, down 13.5% in volume but up 38.1% in value. Of which, Robusta coffee accounted for 964,610 tons with a turnover of 3.48 billion USD, and Arabica reached 49,802 tons with 202.4 million USD.
Dry weather in Brazil and Colombia is putting pressure on Arabica supplies, while import demand from the US, Europe, and Japan is rising for the year-end holiday season. Shortages of Robusta from Vietnam and Brazil are further boosting Arabica prices. In addition, in Brazil, farmers have sold 70% of the year’s crop, higher than the five-year average, increasing attention to next year’s crop.
Growers and businesses should be flexible in their business strategies to take advantage of increased demand, while preparing for price fluctuations due to weather and policy factors. Experts say world coffee prices may fluctuate strongly in the coming time, requiring proactive responses from all relevant parties.
