As of 1:00 p.m. today (November 20), the domestic coffee market has reversed sharply, increasing by an average of VND1,800/kg, causing prices to fluctuate between VND114,800 - VND115,300/kg. The average coffee purchase price in the Central Highlands provinces is VND115,300/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 stood at 114,800 VND/kg, although it has increased by 1,800 VND/kg.
In the same direction, the coffee purchase price in Gia Lai province today increased by 1,700 VND/kg, ranking second on the chart with a price of 115,200 VND/kg.
Notably, Dak Lak and Dak Nong together hold the leading position in the province and city with the highest coffee purchasing price in the country, both increasing by 1,800 VND/kg, setting the mark at 115,300 VND/kg.
After a shocking drop on the trading floor, domestic coffee prices have made an unprecedented breakthrough, increasing sharply by nearly VND2,000/kg. Up to this point, domestic coffee prices have increased by VND6,000/kg.
On the London and New York exchanges, the coffee market recorded an upward movement in all terms. The contract for delivery in January 2025 increased by more than 3% (equivalent to 142 USD/ton), listed at 4,798 USD/ton. Similarly, the contract for delivery in March 2025 increased by less than 9 USD/ton, currently standing at 4,742 USD/ton.
In the same direction, developments in the New York Arabica coffee market for December 2024 and March 2025 delivery terms also recorded a remarkable increase of nearly 4% compared to yesterday's closing session, currently standing at 292.50 cents/lb and 290.25 cents/lb.
World coffee prices are on a strong uptrend today despite the US dollar peaking at a high level. Hedge funds are increasing their buying after previous days of short selling. Unstable weather in Brazil - the world's largest coffee producer - has the market "holding its breath" before the forecast for the next crop's output.
Meanwhile, Vietnam's export figures for the first half of November 2024 all decreased, also contributing to the increase in coffee prices.
According to statistics from the General Department of Customs, Vietnam's coffee exports in the third quarter of 2024 reached 1.12 billion USD, up 52.6% over the same period last year. However, the export volume decreased by 12.9%, at 212,926 tons.
Although output decreased, thanks to strong price increases, the export turnover of this item exceeded 4.24 billion USD in the whole year of 2023, setting a new record.
At the end of the 2023-2024 crop year (from October last year to September this year), Vietnam exported a total of 1.47 million tons of coffee, down 11.3% compared to the previous crop year, but the export turnover value in the crop year still increased by 33%, to a historical high of 5.42 billion USD.
