Coffee price today October 4, 2024: Shocking drop of 4,500 VND/kg
Today's domestic coffee price, October 4, is at 116,200 - 117,200 VND/kg, with a shocking drop of 4,500 VND/kg in localities compared to yesterday after the new proposal from the European Commission.
Domestic coffee prices today
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 116,300 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 117,200 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 117,100 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 116,300 VND/kg in Gia Nghia and 116,200 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 116,200 VND/kg (Chu Prong), in Pleiku and La Grai the price is 116,100 VND/kg.
Today's coffee price in Kon Tum province is purchased at 116,200 VND/kg.
| Province/district (survey area) | Average (Unit: VND/kg) | Change from yesterday (Unit: VND/kg) |
| Dak Lak | 117,200 | -4,500 |
| Lam Dong | 116,300 | -4,500 |
| Kon Tum | 116,200 | -4,500 |
| Gia Lai | 116,200 | -4,500 |
| Dak Nong | 116,300 | -4,500 |
Coffee prices both domestically and internationally fell sharply today due to the strengthening US dollar and issues with the EU's anti-deforestation law. The EU has adjusted some provisions of its anti-deforestation law, allowing coffee stored in standard warehouses to continue to be sold without deforestation certification.
The EU has decided to delay the introduction of anti-deforestation laws following pushback from countries exporting affected agricultural products such as coffee and palm oil. The anti-deforestation laws, which will come into effect in 2025, will require manufacturers to prove that their products are not linked to deforestation.
If the law had been implemented as scheduled, coffee supply could have decreased, causing coffee prices to rise. However, the announcement of the law’s postponement abruptly halted the coffee price fever, especially Robusta, causing a sudden reversal in the last session.
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 116 USD/ton, at 4,995 USD/ton, and for January 2025 delivery decreased by 77 USD/ton, at 4,785 USD/ton.
Arabica coffee prices for December 2024 delivery decreased by 1.80 cents/lb to 254.70 cents/lb, and for March 2025 delivery decreased by 1.65 cents/lb to 253.10 cents/lb.
Coffee production and exports are improving in several major countries, putting pressure on prices. Honduras, the top coffee producer in Central America, is expected to increase exports to 5.37 million bags, thanks to higher production. Vietnam is in the midst of its coffee harvest with positive forecasts, and growers are taking extra care of their coffee plants due to high prices.
Despite the recent decline in coffee prices in the last two sessions, London coffee prices are still high compared to the beginning of the year and previous years. A strike by dock workers in the US on October 2 disrupted the transportation of goods, including coffee, from Maine to Texas.
This could increase the price of coffee beans due to delays in shipments and supply constraints. Coffee inventories in the US are at record lows as importers are reluctant to stockpile large quantities to avoid higher costs amid rising interest rates. Experts believe the current labor issues could be resolved soon.
