Coffee prices today, September 25, 2024: Sharp increase across the board.
Today, September 25th, domestic coffee prices are at 120,200 - 120,700 VND/kg, with prices increasing sharply by 1,200 VND/kg across all localities compared to yesterday. Globally, Robusta London coffee prices surged strongly.
Specifically, in Di Linh, Lam Ha, and Bao Loc districts (Lam Dong province), the price of coffee today is being purchased at 120,200 VND/kg.
In Cu M'gar district (Dak Lak), the price of coffee today is 120,700 VND/kg. In Ea H'leo district (Dak Lak) and Buon Ho (Dak Lak), the price of coffee today is the same at 120,600 VND/kg.
Similarly, in Dak Nong province, today's coffee prices are being purchased at 120,700 VND/kg in Gia Nghia and 120,600 VND/kg in Dak R'lap.
In Gia Lai province, today's coffee price is 120,700 VND/kg (Chu Prong), while in Pleiku and La Grai it is 120,600 VND/kg.
Meanwhile, the price of coffee today in Kon Tum province is being purchased at 120,700 VND/kg.
Vietnam ranks second in the world for coffee exports and is a leading exporter of Robusta coffee. The quality of Vietnamese Robusta coffee is constantly improving, making it more popular in global production and consumption.
Volcafe, a major coffee trading company, predicts a global shortage of Robusta coffee from 2024 to 2025. Coffee acreage in Vietnam is decreasing as farmers switch to growing other crops such as durian and avocado. A USDA report indicates that reduced groundwater and shade pose challenges to coffee cultivation in Vietnam.
Despite expected yield reductions due to drought, current coffee prices still ensure good income for growers. It is projected that from October, when the coffee harvest season begins, Vietnam could achieve record export revenues of up to $6 billion in 2024.
At the close of the most recent trading session, Robusta coffee prices in London for November 2024 delivery rose by $93/ton to $5,369/ton, and for January 2025 delivery rose by $87/ton to $5,090/ton.
Arabica coffee prices for December 2024 delivery increased by 5.25 cents/lb to 268.90 cents/lb, and for March 2025 delivery increased by 5.50 cents/lb to 266.80 cents/lb.
World coffee prices have risen sharply due to concerns that tensions in the Middle East could affect deliveries in Europe.
The dry weather in Brazil, the leading coffee-producing country, is dampening the outlook for Arabica coffee production in 2025/26. Brazil's Minas Gerais region, which accounts for 30% of Arabica coffee production, has only received 62% of the average rainfall, harming the coffee plants.
Brazil's agricultural supply agency (Conab) has lowered its forecast for coffee production for the 2024 crop year to 54.8 million bags from 58.8 million bags.
