Coffee price today September 29, 2024: Weekend slight decrease of 400 VND
Today's domestic coffee price, September 29, is at 121,000 - 121,200 VND/kg, a slight decrease of 400 to 500 VND/kg in localities compared to yesterday. World coffee prices also decreased slightly on the weekend.
Domestic coffee prices today
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 121,100 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 122,100 VND/kg. In Ea H'leo district (Dak Lak), Buon Ho (Dak Lak), the coffee price today is purchased at the same level of 122,000 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 121,200 VND/kg in Gia Nghia and 121,100 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 121,000 VND/kg (Chu Prong), in Pleiku and La Grai the price is 120,900 VND/kg.
Today's coffee price in Kon Tum province is purchased at 121,000 VND/kg.
In the first half of September 2024, Vietnam exported 21,398 tons of coffee, down 16.2% year-on-year. Despite the decrease in export volume, the average export price of coffee increased by 75% to $5,469/ton.
The total value of coffee exports during this period was 117 million USD, up 46% over the same period. Robusta coffee was the main product, with 15,155 tons exported, earning 76.583 million USD. Only 1,119 tons of Arabica coffee were exported, with a value of 4.705 million USD.
From the beginning of the year to September 15, Vietnam exported 1.07 million tons of coffee, earning 4.13 billion USD. Although the export volume decreased by 12%, the export value increased by 35.8% compared to the same period last year. The average export price of coffee from the beginning of the year to September 15 increased by 54.7%, from 2,476 USD/ton to 3,833 USD/ton.
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 45 USD/ton, at 5,482 USD/ton, and for January 2025 delivery decreased by 39 USD/ton, at 5,203 USD/ton.
Arabica coffee price for December 2024 delivery decreased by 4.75 cents/lb, at 269.15 cents/lb, and for March 2025 delivery decreased by 4.85 cents/lb, at 266.90 cents/lb.
The Brazilian Crop Supply Agency (CONAB) has reduced its 2024 coffee production forecast to 54.79 million bags, down slightly from 2023 and 7% from its initial forecast. Arabica production is down 2.52 million bags, while Robusta is down 1.5 million bags to 15.2 million bags.
Vietnam's coffee exports, which account for 30% of the global Robusta supply, are facing drought and heavy rains, affecting the harvest season that began in October. The Buon Ma Thuot Coffee Association forecasts that the country's coffee output will decrease by 10% to 15% in the 2023-2024 crop year due to harsh weather conditions and reduced land area.
The majority of Vietnam’s coffee output will be Robusta, accounting for more than 95% of the total, according to the US Department of Agriculture. Robusta prices have doubled in the past year due to high demand and limited supply, and are now nearly on par with premium Arabica.
