As of 11:30 a.m. today (November 11), the domestic and world coffee markets remained stable, maintaining an average purchase price of VND 107,100/kg.
Similar to Dak Lak, Gia Lai province today purchased coffee at 107,000 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 unchanged, standing at 106,500 VND/kg.
Notably, coffee prices in Dak Nong province still maintain the top position in the country, currently fluctuating around 107,200 VND/kg.
On the London and New York exchanges, the coffee market was also in the red. At the end of the most recent trading session, the price of Robusta coffee in London approached the $4,000/ton mark. The January 2025 delivery term decreased by more than 2% (equivalent to $110/ton), listed at $4,376/ton. The March 2025 delivery term also decreased by 2.40% (equivalent to $106/ton), currently standing at $4,318/ton.
In the New York Arabica coffee market, the December 2024 contract fell more sharply than the London Robusta coffee futures, down 7.05 cents/lb, standing at 253.35 cents/lb. The March 2025 contract recorded a reversal compared to yesterday's closing session, currently standing at 253.10 cents/lb.
Coffee production in recent years has depended heavily on climate conditions, directly affecting producers and consumers.
Rising coffee prices have prompted Vietnam to expand its coffee growing area and improve productivity. Despite a shortage of Robusta, domestic coffee prices have hit a record high in more than 30 years. This has helped export revenue in the 2023/24 crop year reach $5.43 billion despite a decline in export volume.
Production is expected to reach around 26-27 million bags, lower than the forecast of the US Department of Agriculture. The planted area will reach 718,000 hectares by the end of 2023 and continue to increase in 2024.
