Coffee price today November 3, 2024: Continue to decrease by 1,200 VND/kg

Domestic coffee prices today

Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 106,000 VND/kg.

In Cu M'gar district (Dak Lak), the coffee price today is at 106,500 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 106,400 VND/kg.

Similarly in Dak Nong province, today's coffee purchase price is at 106,500 VND/kg in Gia Nghia and 106,400 VND/kg in Dak R'lap.

In Gia Lai province, coffee price today is at 106,400 VND/kg (Chu Prong), in Pleiku and La Grai the price is 106,300 VND/kg.

Today's coffee price in Kon Tum province is purchased at 106,400 VND/kg.

In the first 10 months of 2024, Vietnam's agricultural sector recorded strong growth with agricultural, forestry and fishery export turnover reaching nearly 52 billion USD, of which rice, coffee, and vegetables had record export levels. In particular, the recovery of aquatic and forestry products also contributed significantly to this achievement.

According to information from Deputy Minister of Agriculture and Rural Development Phung Duc Tien, export turnover in October reached about 5.91 billion USD, up 24% over the same period last year. This is a positive signal for the agricultural sector, showing a clear growth trend in production and export.

In particular, Vietnam's coffee exports reached nearly 1.2 million tons with a value of 4.6 billion USD, although the volume decreased by 11% but the value increased by 40% compared to 2023. The average export price of coffee is estimated at 3,981 USD/ton, up 57% over the same period last year, with Germany, Italy and Spain being the three largest consuming markets in the first 9 months of 2024.

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 90 USD/ton, at 4,279 USD/ton, and for January 2025 delivery decreased by 73 USD/ton, at 4,208 USD/ton.

Arabica coffee prices for December 2024 delivery decreased by 2.95 cents/lb to 242.95 cents/lb, and for March 2025 delivery decreased by 3.10 cents/lb to 242.40 cents/lb.

European countries are the largest importers of Vietnamese coffee, but have the lowest average prices. According to the Vietnam Coffee and Cocoa Association (VICOFA), in the 2023-2024 crop year, Vietnam's average export coffee price will reach $3,792 per ton. Of the 10 largest markets, five are European countries, all with import prices below $4,000 per ton, while four Asian countries have prices above $4,000 per ton.

Specifically, five European countries, including Germany, Italy, Spain, Russia and the Netherlands, all have import prices below $4,000 per ton. Germany ranks first in import volume, with 179,000 tons and a value of $607 million, but the average price is only $3,392 per ton. Italy ranks second in import value but has the lowest unit price, only $3,262 per ton. Meanwhile, Spain, with a price of $3,915 per ton, is the country with the highest import price of Vietnamese coffee in Europe.

In contrast, Asian countries are becoming the leading importers of Vietnamese coffee, with the Philippines being the market with the highest average price of 4,424 USD/ton. Japan, the third largest importer in the world, also has a higher average price than European countries, reaching 3,866 USD/ton. The main reason is that Europe mainly imports green coffee for processing, while Asian countries also import processed products and instant coffee, thereby increasing added value and higher average selling prices.