As of 11:30 a.m. today (October 17), the domestic coffee market continued to decline slightly, down an average of VND500/kg, causing prices to fluctuate between VND112,800 - VND113,400/kg. The average coffee purchase price in the Central Highlands provinces is VND113,300/kg.
In Dak Lak province, coffee prices today were purchased at VND113,200/kg. Similarly, Gia Lai province also decreased by VND500/kg compared to early yesterday morning (October 16), currently listed at VND113,300/kg.
Meanwhile, Lam Dong is still the province with the lowest coffee purchasing price in the Central Highlands. Compared to yesterday's closing price, coffee prices decreased by VND500/kg, currently at VND112,800/kg.
Today's coffee price in Dak Nong province is purchased at 113,400 VND/kg.
In the world market, Arabica coffee prices have increased again, Robusta is under pressure from the new crop. At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery decreased by 50 USD/ton, currently at 4,859 USD/ton. Meanwhile, the price of January 2025 delivery is currently fluctuating at 4,752 USD/ton, down 26 USD/ton.
On the New York Stock Exchange, the price of Arabica coffee for December 2024 delivery increased by nearly 1% (equivalent to 1.30 cents/lb), reaching 258 cents/lb. The contract for March 2025 delivery increased by 0.45% (equivalent to 1.15 cents/lb), standing at 256.65 cents/lb.
Thus, in the world market, coffee prices moved in opposite directions today. Accordingly, Arabica prices increased when rainfall in key growing areas in Brazil did not meet market expectations. Meanwhile, the crop being harvested in Vietnam put new pressure on Robusta prices.
For the domestic market, localities are starting the new harvest season. For example, in Dak Nong, coffee is the main crop with about 143,000 hectares, accounting for 35% of the province's total agricultural land area.
The quality of coffee beans depends largely on timely harvesting. For the best coffee beans, coffee should be harvested when red or just ripe. This ensures that the beans inside have all the flavours of the coffee bean, giving them a rich flavour and aroma when roasted.
According to experts, coffee harvesting should be done in batches. This not only optimizes quality but also increases yield.
