Coffee price today September 30, 2024: Slight decrease from last 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 district (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 recent years, coffee prices have typically peaked in April and gradually declined as the harvest season in coffee-producing countries began. This year, by the end of September, Robusta coffee prices on the international market were still at a record high, surpassing $5,500 per ton, while domestic coffee prices ranged from VND120,000 to VND125,000 per kilogram.

Compared to two years ago, the price of raw coffee has nearly tripled, up to 316%, increasing the cost of products, affecting coffee production and trading enterprises. To reduce costs, some enterprises have increased the ratio of corn and soybeans mixed into coffee, which requires the authorities to control more closely to ensure a fair competitive market.

Mr. Trinh Duc Minh, Chairman of Buon Ma Thuot Coffee Association, predicted that coffee prices could increase to about 6,000 USD/ton next year due to supply shortage, especially for Robusta coffee.

Nguyen Huu Long, director of Vietnam Coffee Academy JSC, said the company’s diversified business model helps them be proactive and minimize risks from coffee price fluctuations. He also stressed that inaccurate price predictions can lead to huge losses, as happened to many coffee traders in the recent crop season.

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 prices for December 2024 delivery decreased by 4.75 cents/lb to 269.15 cents/lb, and for March 2025 delivery decreased by 4.85 cents/lb to 266.90 cents/lb.

In September 2024, Vietnam exported 21,398 tons of coffee, down 16.2% year-on-year. The average export price of coffee increased by 75% to $5,469/ton. The total value of coffee exports reached $117 million, up 46% year-on-year.

Robusta coffee dominated with 15,155 tons exported, bringing in 76.583 million USD. Arabica coffee was only exported 1,119 tons, with a value of 4.705 million USD. From the beginning of the year to September 15, the total coffee export volume was 1.07 million tons, 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 coffee export price during this period increased by 54.7%, from $2,476/ton to $3,833/ton. According to VITIC, despite favorable weather conditions for crops, the coffee market remains sluggish. Traders in the Central Highlands have begun to look for coffee cautiously due to financial problems since late last year and uncertainty about the upcoming weather.