Coffee price today October 29, 2024: Domestic price decreases, world price increases
Today, October 29, domestic coffee prices are at 108,500 - 109,100 VND/kg, down 800 - 900 VND/kg compared to yesterday. Meanwhile, on the two trading floors, coffee prices have increased slightly again.
Domestic coffee prices today
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 108,500 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 109,000 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 108,900 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 109,100 VND/kg in Gia Nghia and 109,000 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 109,000 VND/kg (Chu Prong), in Pleiku and La Grai the price is 108,900 VND/kg.
Today's coffee price in Kon Tum province is purchased at 109,000 VND/kg.
Although coffee prices have decreased in the past month, they are still nearly double the price compared to the same period last year, ranging from 60,200 to 61,000 VND/kg, an increase of more than 40,000 VND/kg compared to the beginning of the year. This price level makes coffee growers very excited, despite the long cost and effort of harvesting.
Coffee harvesting takes a long time, requiring picking ripe fruit to ensure quality and protect the plants for the next crop. Mr. Tran Mai Binh, Director of Hoa Linh Coffee Cooperative, said that harvesting is not only a picking step but also requires guarding and anti-theft, forcing gardeners to constantly assign people to watch over.
Di Linh district has 46,400 hectares of coffee, with an output of about 150,000 tons/year. The head of the district's Department of Agriculture and Rural Development said that the locality has not entered the harvest season yet, but high prices can easily lead to theft. The locality is coordinating with the district People's Committee and the police force to patrol, especially in areas far from residential areas to protect crops.
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 96 USD/ton, at 4,507 USD/ton, and for January 2025 delivery increased by 98 USD/ton, at 4,421 USD/ton.
Arabica coffee prices for December 2024 delivery increased by 4.50 cents/lb to 252.90 cents/lb, and for March 2025 delivery increased by 4.35 cents/lb to 251.85 cents/lb.
Global coffee prices have fallen recently as the Brazilian Real weakened against the US dollar, encouraging Brazilian producers to increase sales. In Vietnam, the Robusta coffee harvest is in full swing, leading to increased supply and putting pressure on prices.
The coffee market is also affected by the European Deforestation Regulation (EUDR), which requires exporting countries and traders to comply with the obligation to verify the origin of their products and is expected to be voted on by the European Parliament in November 2024.
In addition to supply and demand factors, Typhoon Tra Mi, which hit central Vietnam, also threatens Robusta coffee production in the Central Highlands. Heavy rains could cause the fruit to fall, affecting harvest and supply, creating market concerns and potentially increasing coffee prices in the near future.
