Coffee price today October 13, 2024: Closing the week down from 300 VND/kg
Today's domestic coffee price, October 13, is at 113,000 - 113,700 VND/kg, a slight decrease of 300 to 400 VND/kg over the weekend 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 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 district (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 113,700 VND/kg in Gia Nghia and 113,600 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 113,600 VND/kg (Chu Prong), in Pleiku and La Grai the price is 113,500 VND/kg.
Today's coffee price in Kon Tum province is purchased at 113,600 VND/kg.
Vietnam's coffee industry may face difficulties in the 2024-2025 crop year, affected by El Nino causing drought and disease, reducing output by 5-15%.
Global demand for sustainable coffee is growing, with a preference for organic coffee and products with sustainability certifications such as UTZ, Fair Trade, Rainforest Alliance, and USDA Organic. To boost the market and meet international standards, Vietnamese coffee businesses need to improve production quality.
Coffee exporting enterprises need flexible business strategies, market diversification and distribution channel expansion. The Vietnamese government needs support policies to help farmers stabilize production and increase income.
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 86 USD/ton, at 4,828 USD/ton, and for January 2025 delivery decreased by 64 USD/ton, at 4,678 USD/ton.
Arabica coffee prices for December 2024 delivery decreased by 2.70 cents/lb to 252.05 cents/lb, and for March 2025 delivery decreased by 2.70 cents/lb to 250.75 cents/lb.
World coffee prices are falling for a variety of reasons. Exchange rate fluctuations, weather conditions, and geopolitical issues all affect coffee prices.
The strengthening US dollar was a major factor in the fall in coffee prices, as it caused the currencies of coffee-producing countries like Brazil to depreciate. Investors in Brazil sold their coffee stocks, causing coffee prices to fall.
Favorable weather in Brazil may improve coffee supplies, but this is only temporary. Geopolitical issues have caused investors to seek safety in gold and the US dollar, reducing the amount of money invested in coffee and other commodities.