As of 11:30 a.m. today (November 2), the domestic and international coffee markets continued to fall in price, with an average decrease of VND1,200/kg, causing prices to fluctuate between VND106,000 - VND106,500/kg. The average coffee purchase price in the Central Highlands provinces is VND106,500/kg.
Similar to Dak Lak, Dak Nong province today simultaneously reduced 1,200 VND/kg, all purchasing at 106,500 VND/kg.
Lam Dong is still the province with the lowest coffee purchasing price in the Central Highlands. Compared to yesterday's closing price, the coffee price in this region has now reached 106,000 VND/kg, down 1,300 VND/kg.
Notably, coffee prices in Gia Lai province are the second highest in the country, currently fluctuating around 106,400 VND/kg.
This weekend, domestic coffee prices witnessed a sharp decline. After a slight decrease of VND600/kg, coffee prices continued to hit a low. The average price is increasingly moving away from the VND110,000/kg mark.
On the London and New York exchanges, the coffee market was deep in 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 period decreased by more than 2% (equivalent to $90/ton), reaching $4,279/ton. In the same direction, the March 2025 delivery period decreased by 1.71% (equivalent to $73/ton), listed at $4,208/ton.
In the New York Arabica coffee market, the December 2024 contract fell slightly by 2.95 cents/lb, reaching 242.95 cents/lb. The March 2025 contract also fell by more than 0.15 cents/lb compared to yesterday's closing session, currently standing at 242.40 cents/lb.
Favorable weather in Brazil and increasing coffee supplies from the harvest in Vietnam have put pressure on global coffee prices.
According to the Brazilian Institute of Geography and Statistics (IBGE), in the 2024-2025 crop year, thanks to increased planting area and productivity, Brazil is estimated to reach 3.6 million tons of coffee, an increase of 4.8% compared to the previous crop year.
Brazil's Arabica output is forecast to reach 2.5 million tons, up 6.5%, while Robusta coffee will reach 1.06 million tons. In the first two months of the new crop year, Brazil exported 451,000 tons of coffee worth nearly $1.9 billion, up 39% over the same period last year.
The country's Robusta coffee exports alone increased by 53%, increasing supply and putting downward pressure on prices on the world market.
Notably, in the report on Vietnam's coffee export turnover in the 2023-2024 crop year, Trung Nguyen Group ranked only 16th with an export value of 114 million USD. The ranking of enterprises with large coffee export turnover in Vietnam also changed when Vinh Hiep Company Limited (Gia Lai) surpassed Intimex Group Joint Stock Company (HCMC) to take the top spot.
Currently, Vietnamese coffee has been exported to over 80 countries and territories. Of which, Europe accounts for about 48% of the market share, Asia 21% and America 6%.
