Coffee price today October 18, 2024: Down 500 VND/kg nationwide
Today's domestic coffee price, October 18, is at 112,800 - 113,400 VND/kg. Today's coffee price continues to decrease by 500 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 112,800 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 113,200 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 113,100 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 113,400 VND/kg in Gia Nghia and 113,300 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 113,300 VND/kg (Chu Prong), in Pleiku and La Grai the price is 113,200 VND/kg.
Today's coffee price in Kon Tum province is purchased at 113,300 VND/kg.
The price of raw coffee beans in Dak Nong currently ranges from 110,000 to 115,000 VND/kg, creating conditions for people to invest and improve product quality. Farmers in coffee growing areas are diligently taking care of coffee trees, supplementing nutrients for a good harvest.
Mr. K'So from Quang Khe commune, Dak Glong, Dak Nong, with more than 20 years of experience growing coffee, expects this crop's yield to be higher thanks to rising coffee prices and careful care. Mr. K'So hopes that the income from coffee will help him save more money and improve his family's life, especially when the expected yield reaches 3.5 - 4 tons/ha.
In Tuy Duc district, farmers are in an important stage of coffee care, with nutritional supplements and the use of biological products for good coffee growth. Mr. Nguyen Van Thanh from Dak Buk So commune, Tuy Duc, reported that coffee prices have increased since the beginning of 2024, encouraging coffee growers to invest more in care, thereby improving productivity and quality.
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 188 USD/ton, at 4,671 USD/ton, and for January 2025 delivery decreased by 170 USD/ton, at 4,582 USD/ton.
Arabica coffee prices for December 2024 delivery decreased by 2.10 cents/lb to 255.90 cents/lb, and for March 2025 delivery decreased by 2.05 cents/lb to 254.60 cents/lb.
Arabica coffee inventories fell to a 4-1/2-month low of 795,874 bags on Oct. 3. Robusta coffee inventories also fell, hitting a five-month low of 4,054 lots on Wednesday.
The Vietnam Coffee and Cocoa Association (VICOFA) announced the end of the 2023-2024 coffee crop year, from October 1, 2023 to September 30, 2024. In this crop year, Vietnam exported 1.46 million tons of coffee, down 12.1% compared to the previous crop year. However, the export value reached 5.43 billion USD, up 33.1%, marking the highest level in the history of Vietnam's coffee exports.
Despite the current high coffee prices, the Vietnamese coffee industry is facing challenges from climate change and economic competition from other crops. The EU is preparing to implement new anti-deforestation regulations, which will affect the coffee industry. VICOFA will soon organize a review event to assess the coffee production and trading situation, as well as forecast market trends for the next crop year.