As of 3:00 p.m. today (October 14), the domestic coffee market continued to decline, down an average of 100 VND/kg to between 113,100 - 113,600 VND/kg, the average purchase price in the Central Highlands provinces was 113,600 VND/kg.
Dak Nong and Dak Lak provinces both purchased coffee at VND113,600/kg. Of which, the coffee price in Dak Nong province decreased by VND100/kg compared to yesterday's trading session (October 13).
In the same direction, Gia Lai province's coffee purchasing price decreased by 100 VND/kg, currently at 113,500 VND/kg.
On the other hand, coffee in Lam Dong province increased by 100 VND/kg, currently purchased at 113,100 VND/kg. This is the province with the lowest coffee purchasing price in the country.
For the world market, at the end of the most recent trading session, the price of Robusta coffee in London for delivery in November 2024 and delivery in January 2025 remained unchanged, at 4,828 USD/ton and 4,678 USD/ton, respectively.
Arabica coffee futures prices for December 2024 delivery and March 2025 delivery remained unchanged compared to yesterday's closing price, at 252.05 cents/lb and 250.75 cents/lb, respectively.
Global coffee supplies are being controlled by weather conditions in Brazil, the world’s largest coffee producer. The drought in the country shows no signs of abating, significantly affecting coffee yields.
In contrast, in Vietnam, coffee prices have experienced unprecedented volatility. At the beginning of 2023, coffee prices were only at VND40 million/ton, but by January 2024, this figure had nearly doubled to VND70 million/ton. Currently, coffee prices are constantly fluctuating around VND113-114 million/ton.
Although this price has decreased compared to the peak of 134 million VND/ton in April 2024, it is still twice as high as at the beginning of this year.
Coffee prices have fallen sharply for two consecutive weeks due to many factors, including: growers are cautious about selling coffee after many months of strong growth. This is also the time of the new coffee harvest in Vietnam, the supply is expected to be more abundant in the coming time. Heavy rain during the harvest can affect the quality of coffee and lead to a decrease in prices.
