Coffee price today October 7, 2024: Sharp decrease of 5,800 VND/kg compared to last week
Today's domestic coffee price on October 7 is at 115,500 - 116,200 VND/kg. At the end of the week, coffee prices dropped sharply from 4,900 to 5,800 VND/kg compared to last week.
Domestic coffee prices today
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 115,500 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 116,200 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 116,100 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 116,200 VND/kg in Gia Nghia and 116,100 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 116,100 VND/kg (Chu Prong), in Pleiku and La Grai the price is 116,000 VND/kg.
Today's coffee price in Kon Tum province is purchased at 116,100 VND/kg.
| Province/district (survey area) | Average (Unit: VND/kg) | Change from last week (Unit: VND/kg) |
| Dak Lak | 116,200 | -5,800 |
| Lam Dong | 115,500 | -5.500 |
| Kon Tum | 116,100 | -4,900 |
| Gia Lai | 116,100 | -4,900 |
| Dak Nong | 116,200 | -4,900 |
The Import-Export Department forecasts high coffee prices next month due to tight supplies and rising demand. Vietnam could see its coffee output in the 2024-2025 crop year fall to its lowest level in 13 years.
The return of the coffee market after the Northern Hemisphere summer break will boost coffee trading, especially ahead of the winter roasting season in Europe and the U.S. Although the USDA forecasts a possible increase in the next harvest, many coffee industry experts believe that production will fall by about 15% due to unfavorable weather and reduced coffee planting area.
Severe drought during the last dry season reduced the size of coffee beans, especially during the crucial period when the coffee cherries develop rapidly. With no stocks remaining from the 2023-2024 crop year, coffee supplies are expected to be even tighter. Shortages have already begun in May of the current crop year.
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 146 USD/ton, at 5,067 USD/ton, and for January 2025 delivery increased by 139 USD/ton, at 4,859 USD/ton.
Arabica coffee price for December 2024 delivery increased by 5.30 cents/lb, to 257.35 cents/lb, and for March 2025 delivery increased by 5.15 cents/lb, to 255.65 cents/lb.
Experts say there may be a slight adjustment in coffee prices in the coming time due to the influence of a number of factors. The European Commission (EC) has proposed to delay the application of new regulations banning the import of goods that cause deforestation. This will help reduce the pressure on coffee exports to the EU and also reduce the demand for coffee from EU importers, which may cause a decline in coffee prices in the international and domestic markets.
Coffee production is expected to decline by 5-15% in the 2024-2025 crop year compared to the previous crop year, mainly due to unfavorable weather and the El Nino phenomenon. This reduction in production could cause coffee prices to increase due to insufficient supply to meet demand.
While coffee prices have risen recently, this could reduce demand, putting downward pressure on prices in the coming months. Domestic coffee prices are higher now than they were in 2023, but if consumers reduce their purchases, this will lead to lower consumption and put further pressure on coffee prices.