As of 11:30 a.m. today (October 18), the domestic coffee market has dropped sharply, by an average of VND1,000/kg, causing prices to fluctuate between VND111,700 - VND112,300/kg. The average coffee purchase price in the Central Highlands provinces is VND112,300/kg.
In Dak Lak province, the coffee price today is 112,000 VND/kg, down 1,000 VND compared to early yesterday morning. Similarly, Gia Lai province is currently listed at 112,100 VND/kg, up 100 VND compared to the coffee price in Dak Lak province.
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 VND1,000/kg, currently at VND111,700/kg.
Today's coffee price in Dak Nong province fluctuates around 112,200 - 112,300 VND/kg depending on the region.
In the world market, the online price of Robusta coffee has plummeted. At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery decreased by 174 USD/ton, currently at 4,685 USD/ton. Meanwhile, the price of January 2025 delivery is currently fluctuating at 4,598 USD/ton, down 154 USD/ton.
On the New York online exchange, the price of Arabica coffee for December 2024 delivery decreased by more than 1% (equivalent to 2.85 cents/lb), reaching 255.15 cents/lb. The contract for March 2025 delivery decreased by 1.09% (equivalent to 2.80 cents/lb), standing at 253.85 cents/lb.
Thus, domestic and international coffee transactions took place in the same direction today. Vietnam's new harvest is putting strong downward pressure on the market as a large amount of goods is about to be released. In addition, rainy weather in coffee growing areas in Brazil has helped the market to ease concerns about upcoming supplies.
Not only that, the news that the European Committee is likely to postpone the implementation of the ban on agricultural products related to deforestation into the EU (EUDR) for 1 year today also strongly impacted Robusta prices, causing this type of coffee to fall even further.
