Coffee price today 11/11/2024: Slight increase from 500 VND/kg
Today's domestic coffee price, November 11, is at 106,500 - 107,200 VND/kg, a slight increase of 500 VND/kg compared to the same period last week.
Domestic coffee prices today
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 106,500 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 107,000 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 106,900 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 107,200 VND/kg in Gia Nghia and 107,100 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 107,000 VND/kg (Chu Prong), in Pleiku and La Grai the price is 106,900 VND/kg.
Today's coffee price in Kon Tum province is purchased at 107,000 VND/kg.
At the beginning of the coffee harvest season, the Central Highlands provinces have seen many thefts, making farmers worried despite high coffee prices. The Central Highlands currently has more than 600,000 hectares of coffee in season, and to protect the coffee, people set up tents in their gardens, install cameras, light lamps, make fires, and hire patrols.
Mr. Tran Ngoc Phan, Vice Chairman of the People's Committee of Duc Co District (Gia Lai), said that the authorities have advised people to be vigilant, directed the police to increase nighttime inspections and use security cameras at intersections near coffee plantations. In addition, the district also requested purchasing points not to buy green coffee from suspicious subjects and called for immediate reporting upon discovery.
In Dak Nong, the provincial police coordinated with the Security and Order Protection Team and crime prevention models to prevent coffee theft. Dak Nia Commune (Gia Nghia City, Dak Nong) also has an agricultural product protection patrol team with 15 members, coordinating with the commune police to patrol, promptly detect incidents and propagate to raise awareness of theft prevention for the people.
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 110 USD/ton, at 4,376 USD/ton, and for January 2025 delivery decreased by 106 USD/ton, at 4,318 USD/ton.
Arabica coffee prices for December 2024 delivery decreased by 7.05 cents/lb, to 253.35 cents/lb, and for March 2025 delivery decreased by 6.65 cents/lb, to 253.10 cents/lb.
Last week, Robusta coffee prices increased to $4,376/ton compared to $4,279/ton last week, up nearly $100/ton (based on January 2025 prices). December Arabica coffee also increased, closing at 253.35 cents/pound, up 10.4 cents compared to last week.
Coffee prices, especially Robusta, recovered after 5 weeks of decline thanks to factors: On November 7, the FED cut interest rates by 0.25%, weakening the USD and boosting demand for coffee; along with that, fluctuations from the US presidential election also affected the currency market and commodity prices.
Arabica prices hit a three-week high, while Robusta hit a one-week high on concerns that drought in Brazil could cut production. Rainfall in Minas Gerais, Brazil’s largest Arabica growing region, was just 27.4 mm, about 64% of the historical average, according to Somar Meteorologia.
Robusta prices were also supported by concerns that storm No. 7 in the East Sea could cause heavy rains in the Central Highlands, disrupting harvests. However, the storm is likely to dissipate before making landfall, with little impact on the Central Highlands.
However, the coffee market quickly stabilized after the International Coffee Organization (ICO) reported that global coffee exports in September increased by 25% year-on-year to 10.76 million bags, and total exports for the crop year increased by 11.7% to 137.27 million bags. Notably, exports from South America increased by 30.8% in September, bringing the region's crop year exports to 66.13 million bags, up 30.7% year-on-year.