Coffee price today October 9, 2024: Domestic price drops sharply by 2,500 VND/kg
Today's domestic coffee price, October 9, is at 113,000 - 113,600 VND/kg, a sharp decrease of 2,500 VND/kg in localities compared to yesterday. Vietnam is about to enter the harvest season, causing the online coffee market to plummet.
Domestic coffee prices today
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 113,000 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 113,600 VND/kg. In Ea H'leo district (Dak Lak), Buon Ho (Dak Lak), the coffee price today is purchased at the same level of 113,500 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 113,600 VND/kg in Gia Nghia and 113,500 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 113,500 VND/kg (Chu Prong), in Pleiku and La Grai the price is 113,400 VND/kg.
Today's coffee price in Kon Tum province is purchased at 113,500 VND/kg.
| Province/district (survey area) | Average (Unit: VND/kg) | Change from yesterday (Unit: VND/kg) |
| Dak Lak | 113,600 | -2,500 |
| Lam Dong | 113,000 | -2,500 |
| Kon Tum | 113,500 | -2,500 |
| Gia Lai | 113,500 | -2,500 |
| Dak Nong | 113,600 | -2,500 |
In September, Vietnam exported 52,464 tons of coffee, earning US$287 million. Compared to the previous month, the export volume decreased by 31.2% and the revenue decreased by 28.7%. However, compared to the same period last year, the export volume increased by 3% and the revenue increased significantly by 70.1%.
In the third quarter of this year, total coffee exports were 214,935 tons, with revenue of 1.12 billion USD. Compared to the third quarter of 2023, export volume decreased by 12.1% but revenue increased by 52.6%. As of the first 9 months of 2024, total coffee exports are estimated to reach 1.1 million tons, with revenue of nearly 4.3 billion USD. Although export volume decreased by 11.5%, revenue increased by 37.8% compared to the same period last year thanks to high coffee prices.
The average export price of coffee in the first nine months of the year was $3,889 per ton, up 55.7% year-on-year. In September alone, the average export price reached a record $5,469 per ton, up 3.6% month-on-month and 65.2% year-on-year. The domestic coffee market is currently quiet as traders await supplies from the new 2024-2025 harvest.
World coffee prices today
At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery increased by 10 USD/ton, at 4,878 USD/ton, and for January 2025 delivery increased by 15 USD/ton, at 4,675 USD/ton.
Arabica coffee price for December 2024 delivery increased by 1.95 cents/lb, to 246.60 cents/lb, and for March 2025 delivery increased by 1.95 cents/lb, to 245.30 cents/lb.
Mordor Intelligence reports that the global coffee market is estimated to be worth around $132.13 billion by 2024. The market is expected to grow to $166.39 billion by 2029, growing at a CAGR of 4.72% from 2024 to 2029.
The popularity of drinking coffee as a daily beverage, especially among the youth in countries like India, Italy, the United States, China, Japan and the Philippines, is driving the coffee market growth.
Rising incomes and urbanization are also contributing to this growth. Health benefits of drinking coffee, including reduced risk of diabetes, fat burning ability and energy from caffeine, are also driving the market.
