Coffee price today November 9, 2024: Sharp increase from 2,500 VND/kg
Today's domestic coffee price, November 9, is at 108,000 - 108,700 VND/kg, a sharp increase of 2,500 to 2,700 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 108,000 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 108,500 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 108,400 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 108,700 VND/kg in Gia Nghia and 108,600 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 106,000 VND/kg (Chu Prong), in Pleiku and La Grai the price is 105,900 VND/kg.
Today's coffee price in Kon Tum province is purchased at 106,000 VND/kg.
Both domestic and international coffee prices increased sharply, increasing by an average of VND2,600/kg, causing prices to fluctuate between VND108,500 and VND108,700/kg. In the Central Highlands provinces, the average purchase price reached VND108,600/kg. In the weekend trading session, domestic coffee prices increased significantly, approaching the VND110,000/kg mark after a series of price decreases.
According to Mr. Nguyen Huu Long, Director of Vietnam Coffee Academy Joint Stock Company, coffee prices are strongly affected by speculative factors, so they are difficult to predict. However, speculators still have to rely on actual market demand to decide on investments.
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 91 USD/ton, at 4,395 USD/ton, and for January 2025 delivery decreased by 90 USD/ton, at 4,334 USD/ton.
Arabica coffee price for December 2024 delivery decreased by 6.15 cents/lb, at 254.25 cents/lb, and for March 2025 delivery decreased by 5.90 cents/lb, at 253.85 cents/lb.
Coffee prices on two major exchanges rose more than 4%, while the US dollar weakened slightly. Arabica coffee was supported by concerns that an unusually dry spell in Brazil could reduce output. Robusta coffee also rose as heavy rains in Vietnam affected coffee farms. Heavy rains in the Central Highlands region have negatively affected the crop, increasing the risk of flooding for coffee trees.
However, the price increase may be limited by a sharp increase in Brazil's sales. According to the Brazilian government, green coffee exports in October increased 12% compared to the same period last year, reaching 4.65 million bags. Attractive prices have encouraged Brazilian producers to increase sales. In addition, the Vietnam Coffee - Cocoa Association said that fluctuations in coffee prices during the harvest season are normal, and the EU's 12-month delay in implementing anti-deforestation regulations has helped reduce supply pressure. Domestic coffee prices may only decrease in the short term, but in the long term, Vietnam's coffee growing area is expected to continue to expand to meet demand.
