Coffee price today November 7, 2024: Slight increase of 600 VND/kg
Today's domestic coffee price, November 7, is at 106,500 - 107,000 VND/kg, a slight increase of 600 VND/kg compared to yesterday.
Domestic coffee prices today
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 106,500 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 107,000 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 106,900 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 107,000 VND/kg in Gia Nghia and 106,900 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 107,000 VND/kg (Chu Prong), in Pleiku and La Grai the price is 106,900 VND/kg.
Today's coffee price in Kon Tum province is purchased at 107,000 VND/kg.
After the recent price drop, coffee producers in Brazil have slowed down sales, allowing the coffee market to recover. Rains in Brazil have also helped coffee plants flower, raising hopes for a better crop next year.
In Vietnam, the Buon Ma Thuot Coffee Association forecasts that the 2024/25 coffee crop output in Dak Lak could decrease by 5-10% compared to the previous crop. The reason is that thousands of hectares of coffee suffered from drought and water shortages during the 2024 dry season, affecting the growth of the trees.
Honduras’ coffee exports are down 30% in August 2024, but Central America and Mexico are forecast to increase by 6.4% in the new crop year. Colombia is also recovering production, expected to reach 12.8 million bags, with domestic consumption up 1.6%.
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 99 USD/ton, at 4,273 USD/ton, and for January 2025 delivery decreased by 94 USD/ton, at 4,209 USD/ton.
Arabica coffee price for December 2024 delivery decreased by 4.50 cents/lb, to 249.65 cents/lb, and for March 2025 delivery decreased by 4.25 cents/lb, to 245.15 cents/lb.
Domestic coffee prices have been fluctuating during the harvest season of Vietnamese farmers, mostly decreasing more than increasing. Currently, coffee prices are still above 100,000 VND/kg, but the prolonged decline has many people worried.
At the beginning of the week, experts predicted that many factors would affect coffee prices, such as the US presidential election and the Fed's interest rate adjustment. In fact, the USD had already depreciated before the election, as investors awaited the results and the Fed's policies, helping coffee prices recover. These events are expected to have a profound impact on the global economy.
Experts and Vicofa believe that coffee prices are likely to continue to fall in the short term. This is a normal development when the market is fluctuating, so businesses and growers should trade cautiously and calculate properly to cope with this fluctuation.
