Coffee price today October 24, 2024: Sharp decrease of nearly 2,000 VND/kg

Domestic coffee prices today

Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 109,400 VND/kg.

In Cu M'gar district (Dak Lak), the coffee price today is at 109,600 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 109,300 VND/kg.

Similarly in Dak Nong province, today's coffee purchase price is at 109,700 VND/kg in Gia Nghia and 109,600 VND/kg in Dak R'lap.

In Gia Lai province, coffee price today is at 109,600 VND/kg (Chu Prong), in Pleiku and La Grai the price is 109,500 VND/kg.

Today's coffee price in Kon Tum province is purchased at 109,600 VND/kg.

Coffee farmers see the re-blooming of coffee flowers after the rains as a positive sign for production recovery after a prolonged drought. However, further monitoring of the recovery and supply outlook for the 2025/26 crop year remains to be seen, given the relatively late arrival of rains.

Son La province is currently harvesting the 2024 coffee crop with a planting area of ​​over 21,000 hectares and an estimated output of 35,000 - 45,000 tons per year. Despite the decrease in output due to the impact of El Nino, Son La coffee still maintains good prices thanks to high demand from international markets such as the EU, the US and Japan for high-quality Arabica coffee and specialty coffee.

Although global demand for coffee remains strong, dealers say the Vietnamese coffee market is struggling as many countries have found alternative sources. The EU’s deforestation regulation, which was due to come into effect at the end of 2024, has been delayed, reducing buyers’ appetite for new deals. Domestically, coffee prices have fallen by nearly VND2,000 per kilogram, raising concerns among farmers about their income.

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 37 USD/ton, at 4,450 USD/ton, and for January 2025 delivery decreased by 15 USD/ton, at 4,410 USD/ton.

Arabica coffee prices for December 2024 delivery increased by 0.95 cents/lb to 250.80 cents/lb, and for March 2025 delivery increased by 0.75 cents/lb to 249.50 cents/lb.

Coffee prices have fallen due to a strong US dollar, supply pressure from Vietnam and favorable weather conditions in Brazil’s coffee growing regions. Rains are forecast to continue through October, creating ideal conditions for Brazil’s coffee trees to recover. However, Brazil’s 2025 coffee production is still forecast to decline due to late rains, which will prevent the trees from fully recovering.

The US dollar rose against the Brazilian real (USD/BRL), raising concerns that Brazil would boost exports as it earns more foreign currency. This put further downward pressure on coffee prices in the market. The last trading session was also affected by manipulation by hedge funds, as coffee prices rose at times but then fell sharply due to short-selling.

Important information for investors is that speculators in the coffee derivatives market have started to reduce their net long positions, as Vietnam prepares to enter its main harvest season in the next 1-1.5 months. This shows that the market is expecting new supplies from Vietnam to continue to put pressure on coffee prices in the coming time.