Coffee price today November 14, 2024: Coffee price increased slightly before the verdict
Today, November 14, domestic coffee prices are at 110,100 - 110,400 VND/kg, a slight increase of 300 - 600 VND/kg compared to yesterday. Coffee prices maintain their upward momentum while waiting for a decision on the implementation time of the EUDR.
Domestic coffee prices today
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 110,100 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 110,300 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 110,200 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 110,400 VND/kg in Gia Nghia and 110,300 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 110,300 VND/kg (Chu Prong), in Pleiku and La Grai the price is 110,200 VND/kg.
Today's coffee price in Kon Tum province is purchased at 110,300 VND/kg.
Currently, farmers in districts of Gia Lai province are entering the beginning of the coffee harvest season. The local price of fresh coffee fluctuates between 22,000 and 25,000 VND/kg, while coffee beans have reached a record high of over 109,000 VND/kg, making people very excited.
The Central Highlands region has more than 600,000 hectares of coffee, of which Gia Lai has more than 100,000 hectares, concentrated in the districts of Dak Doa, Ia Grai, Chu Prong, Chu Pah, Mang Yang, Duc Co, Kbang, Chu Se and Chu Puh. The commercial coffee area is about 87,000 hectares.
After years of poor harvests or low prices, the 2023-2024 coffee crop has improved with increased prices and yields. However, coffee growers in Gia Lai are still worried because coffee theft is common.
Mr. Nguyen Duc Tan, Chairman of the People's Committee of Ia Krai Commune, said that the locality has established 15 security teams with 48 members to patrol day and night. The government also requires agricultural businesses not to buy immature coffee or coffee from sellers of unknown origin, especially from underage children. When detecting suspicious cases, they must immediately report to the police.
Thefts are not only happening in Ia Grai but also in Duc Co, Dak Doa districts and Pleiku city. Many coffee gardens have had their fruits stolen and branches even destroyed by criminals. With the high price of coffee, farmers have had to install cameras, set up tents and hire people to guard them all night.
Faced with this situation, Gia Lai Provincial Police have advised people to take proactive precautions, install lighting, security cameras and alarm bells to protect property.
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 89 USD/ton, at 4,626 USD/ton, and for January 2025 delivery increased by 79 USD/ton, at 4,540 USD/ton.
Arabica coffee price for December 2024 delivery increased by 5.55 cents/lb, at 269.10 cents/lb, and for March 2025 delivery increased by 5.90 cents/lb, at 269.00 cents/lb.
Coffee prices rose sharply, with Arabica hitting a six-week high and Robusta hitting a three-week high. This was due to Brazilian farmers limiting sales in the expectation of further price increases, tightening the market supply and pushing up prices.
Robusta supplies have also become tight as exports from Vietnam slow, adding to the global coffee market’s tightness and supporting prices. Recent adverse weather in both Brazil and Vietnam has also raised concerns about the upcoming harvests in both countries.
One factor that could have a big impact on coffee prices next week is the EU's decision on November 13-14 on the implementation date of the European Deforestation Regulation (EUDR).
Investors are waiting for a clear signal from Trump, who just declared victory in the US presidential election, which could see capital flow into speculative markets, including coffee, contributing to the bullish trend this week.
The EU is currently the world’s largest coffee consuming market, with imports of 3.2 million tonnes, accounting for 31.2% of total global coffee trade. Germany, Italy, Spain and the Netherlands – four EU member states – are all in the top 10 largest coffee importers of Vietnam in 2024.