As of 2 p.m. today (November 1), the domestic and international coffee markets have reversed sharply, with an average decrease of VND1,500/kg, causing prices to fluctuate between VND107,300 - VND107,700/kg. The average coffee purchase price in the Central Highlands provinces is VND107,700/kg.
Similar to Dak Lak, Dak Nong province today simultaneously reduced 1,500 VND/kg, all purchasing at 107,700 VND/kg.
Lam Dong is still the province with the lowest coffee purchasing price in the Central Highlands. Compared to yesterday's closing price, coffee prices in this region are currently at VND107,300/kg, down VND1,500/kg.
Notably, coffee prices in Gia Lai province are the second highest in the country, currently fluctuating around 107,600 VND/kg.
As the weekend drew to a close, domestic coffee prices saw large fluctuations, alternating increases and decreases. After a slight increase of VND600/kg, coffee prices continued to hit a low. The average price moved away from the VND110,000/kg mark.
On the London and New York exchanges, the coffee market turned red. At the end of the most recent trading session, the price of London Robusta coffee futures for delivery in January 2025 decreased by nearly 2% (equivalent to 84 USD/ton), reaching 4,369 USD/ton. In the same direction, the futures for delivery in March 2025 decreased by 1.88% (equivalent to 82 USD/ton), listed at 4,281 USD/ton.
In the New York Arabica coffee market, the December 2024 contract fell sharply by 3.70 cents/lb, reaching 245.90 cents/lb. The March 2025 contract fell by 0.25 cents/lb compared to yesterday's closing session, currently standing at 245.50 cents/lb.
Weather conditions in Brazil - the world's largest coffee producing country, along with pressure from a new harvest in Vietnam, have caused the world coffee market to fall sharply.
Looking back at October 2024, the price of domestic coffee continuously decreased sharply, losing an average of 14,000 VND/kg.
According to the Vietnam Coffee and Cocoa Association (Vicofa), total coffee exports in the 2023/2024 crop year will reach about 1.45 million tons, mainly Robusta with more than 1.2 million tons.
Although the 2023/2024 crop year output decreased by 12.7%, coffee exports contributed more than 5.4 billion USD to Vietnam's export turnover. Due to high agricultural prices, the export value still increased sharply by 33%. This is the highest turnover in the history of Vietnam's coffee exports to date.
