Coffee price today October 26, 2024: All prices decreased by 1,200 VND/kg
Today's domestic coffee price, October 26, is at 108,400 - 108,800 VND/kg. Today's coffee price has decreased by 1,200 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 108,400 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 108,600 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 108,500 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 108,800 VND/kg in Gia Nghia and 108,700 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 108,600 VND/kg (Chu Prong), in Pleiku and La Grai the price is 108,500 VND/kg.
Today's coffee price in Kon Tum province is purchased at 108,600 VND/kg.
Information from the Vietnam Coffee and Cocoa Association (Vicofa) at the 2023-2024 coffee crop year summary conference, held in Ho Chi Minh City on the afternoon of October 25, showed that the global coffee industry has faced many challenges. Vicofa Chairman Nguyen Nam Hai said that climate change has greatly affected coffee productivity and quality, with prolonged drought and late-season storms.
In addition, political instability in many regions such as Russia, Ukraine, Israel and the Gaza Strip has negatively impacted the global economy. It is forecasted that in 2024, coffee prices will continue to increase, making it difficult to purchase and execute export contracts.
Vicofa Vice President Do Ha Nam said that falling coffee production in many major countries has pushed up export prices. Robusta coffee prices surpassed $5,000 per ton for the first time, higher than Arabica. In Vietnam, coffee prices reached a 30-year high, causing export output to fall 12.7% but value to increase 33%. Although coffee prices have now fallen, the market situation for the 2024-2025 crop year remains difficult to predict.
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 43 USD/ton, at 4,325 USD/ton, and for January 2025 delivery decreased by 2 USD/ton, at 4,335 USD/ton.
Arabica coffee price for December 2024 delivery increased by 1.10 cents/lb, to 246.55 cents/lb, and for March 2025 delivery increased by 1.25 cents/lb, to 245.70 cents/lb.
According to a report by the US Department of Agriculture (USDA), in the 2024-2025 coffee crop year, Brazil is expected to produce 69.9 million bags of coffee, including 48.2 million bags of Arabica and 21.7 million bags of Robusta. Vietnam has a total output of about 29 million bags, of which 24.4 million bags are exported and 4.6 million bags are consumed domestically.
Experts predict that Vietnam’s coffee output will increase in the coming years thanks to farmers investing more in their plantations due to high coffee prices. The replanting project of the Ministry of Agriculture and Rural Development, in collaboration with the World Bank (2014-2022), has brought positive results, increasing productivity. However, the new planting area in the Central Highlands has been increasing continuously but has not been recorded, which could lead to a coffee surplus if timely measures are not taken.
Mr. Nguyen Quang Binh said that 2024 will see a sharp increase in coffee prices, bringing benefits to farmers but also causing difficulties for many businesses. The market is still volatile, requiring the coffee industry to make early adjustments to maintain sustainable growth. The industry needs to overcome gaps in the supply chain, improve coffee quality and invest in deep processing to ensure long-term development.
