Coffee prices today, October 25, 2024: Slightly increased by 200 VND/kg
Today, October 25th, domestic coffee prices are at 109,600 - 110,000 VND/kg. Coffee prices have increased slightly by 200 - 300 VND/kg compared to yesterday.
Domestic coffee prices today
Specifically, in Di Linh, Lam Ha, and Bao Loc districts (Lam Dong province), the price of coffee today is being purchased at 109,600 VND/kg.
In Cu M'gar district (Dak Lak), the price of coffee today is 109,800 VND/kg. In Ea H'leo district (Dak Lak) and Buon Ho (Dak Lak), the price of coffee today is the same at 109,700 VND/kg.
Similarly, in Dak Nong province, today's coffee prices are being purchased at 110,000 VND/kg in Gia Nghia and 109,900 VND/kg in Dak R'lap.
In Gia Lai province, today's coffee price is 109,800 VND/kg (Chu Prong), while in Pleiku and La Grai it is 109,700 VND/kg.
Meanwhile, the price of coffee today in Kon Tum province is being purchased at 109,800 VND/kg.
With the 2023-2024 coffee crop year ending in September, Vietnam recorded a record volume of coffee imports, up 76% compared to the same period last year. According to the Vietnam Coffee and Cocoa Association (VICOFA), by the end of September, Vietnam had imported approximately 139,000 tons of coffee worth nearly $527 million, an increase of 36% in volume and nearly 76% in value compared to the previous year.
In the final months of the harvest season, coffee imports surged due to a shortage of domestic supply. In September alone, businesses imported 14,400 tons of coffee, worth nearly $65 million, representing a 54% increase in volume and a 132% increase in value compared to the same period last year. Vietnam imports both raw and finished coffee, but the average import price is usually lower than the export price. For example, green coffee beans are imported at an average price of $4,194 per ton, while the export price is $5,022 per ton.
Businesses primarily import cheap raw coffee beans to produce instant coffee and a small amount of processed coffee for consumption. Vietnam's imported coffee supply mainly comes from Laos, Indonesia, Brazil, Colombia, Ethiopia, and Peru.
World coffee prices today
At the close of the most recent trading session, Robusta coffee prices in London for November 2024 delivery fell by $70/ton to $4,412/ton, and for January 2025 delivery fell by $73/ton to $4,370/ton.
Arabica coffee prices for December 2024 delivery fell by 3.85 cents/lb to 248.50 cents/lb, and for March 2025 delivery fell by 3.85 cents/lb to 247.20 cents/lb.
World coffee prices are undergoing a correction as robusta and arabica continue to decline, while some new developments are emerging in the market. In major coffee-growing regions such as the Central Highlands, Lam Dong, and Dak Lak, the harvest is taking place under dry and favorable weather conditions, with the coffee beans fully ripe.
The strong US dollar has pushed gold and crude oil prices down. However, coffee prices have recovered after falling too much in the previous days. The market is facing resistance as the new crop supply from Vietnam has not yet entered the market. Traders say foreign demand for Vietnamese coffee is decreasing as many countries have secured their coffee supplies from other sources.
Speculators are also reducing their net long positions ahead of the harvest in the world's largest robusta producer, which is expected to see increased selling next month. The outlook for Vietnam's 2024-2025 coffee crop is not optimistic due to the impact of the drought earlier this year. However, the long-term outlook remains unclear, as the recovery and forecasting of supply for the 2025/2026 crop still need further monitoring due to delayed rainfall. Coffee farmers say the renewed flowering after the rains is a positive sign for the recovery of production after the prolonged drought.