Coffee price today November 4, 2024: Sharp decrease of nearly 3,500 VND/kg compared to last week
Today's domestic coffee price on November 4 is at 106,000 - 106,500 VND/kg, a sharp decrease of nearly 3,500 VND/kg compared to last week. Since October 2024, domestic coffee prices have decreased by more than 14,000 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.
There are many different opinions on the forecast of coffee output in Vietnam – the world’s second largest coffee producer. According to the USDA report, Vietnam’s coffee output in the 2024-2025 crop year is estimated at about 29 million bags, of which 24.4 million bags will be exported and 4.6 million bags for domestic consumption. However, some other sources believe that coffee output in this crop year may fluctuate between 26-27 million bags (equivalent to 1.6 million tons).
Industry experts and the Vietnam Coffee and Cocoa Association (Vicofa) believe that, given the current situation, both domestically and internationally, coffee prices are likely to continue to decline in the short term. This is considered a normal development when the coffee market is experiencing many fluctuations. Therefore, experts recommend that businesses and growers should be cautious in transactions and make reasonable calculations to cope with unpredictable fluctuations.
According to Vicofa, the 2023-2024 crop year has recorded a decrease in Vietnam's coffee export volume, but the value has increased significantly thanks to the highest price in more than 30 years. The total coffee export volume in this crop year reached 1.45 million tons, with a turnover of about 5.4 billion USD - an increase of 33% in value despite a decrease of 12.7% in volume.
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.
Robusta coffee futures have just dropped to their lowest level in the past 2.5 months, in the context that Vietnam is about to enter the peak harvest season in November. The price ended the trading session down more than 2%, to 4,279 USD/ton, after hitting a low of 4,259 USD/ton under the January 2025 contract. In addition, traders commented that strong exports of robusta (conilon) coffee from Brazil are also putting great pressure on Robusta coffee prices.
Meanwhile, Arabica coffee prices also fell 1.2% to 242.95 cents/lb, on news that recent rains in Brazil will improve the coffee crop after a long dry period. Coffee growing areas in Brazil have blossomed in October when rains returned, according to cooperatives and agronomists. However, coffee prices are still down 5.06% over the past four weeks. Climatempo forecasts heavy rains in the Minas Gerais region later this week, which could have a positive impact on coffee production.
Another factor driving down coffee prices is the weakening of the Brazilian real, which hit a nearly three-month low against the dollar at 5.780 reals to $1. The spread between New York and London futures prices widened further on Thursday to 47.73 cents per pound, suggesting that Robusta is losing ground to Arabica, especially in a market that is under pressure.
