As of 11:30 a.m. today (October 23), the domestic and world coffee markets have unexpectedly plummeted compared to the closing price, down an average of VND1,800/kg, causing prices to fluctuate between VND109,400 - VND109,700/kg. The average coffee purchase price in the Central Highlands provinces is VND109,600/kg.
Similar to Gia Lai province, Dak Lak province today purchased at 109,600 VND/kg, a sharp decrease of 1,800 VND/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 in this region decreased by VND1,600/kg, currently listed at VND109,400/kg.
Dak Nong province recorded the sharpest decrease in the country, currently standing at 109,700 VND/kg, down nearly 2,000 VND/kg.
Thus, domestic coffee prices gradually decrease every day, approaching the 100,000 VND/kg mark.
For the world market, the London and New York exchanges were dominated by red. At the end of the most recent trading session, Robusta coffee prices in London gradually moved away from the peak of 4,500 USD/ton. The November 2024 delivery period decreased by nearly 2% (equivalent to 90 USD/ton), reaching 4,487 USD/ton. In addition, the January 2025 delivery period also decreased by 1.73% (equivalent to 78 USD/ton), listed at 4,425 USD/ton. This is a level with low trading volume.
On the New York Stock Exchange, the price of Arabica coffee for December 2024 delivery continued to decrease by 1.85 cents/lb, reaching 249.85 cents/lb. The contract for March 2025 delivery decreased less by 1.70 cents/lb, standing at 248.75 cents/lb.
In contrast to Robusta coffee, Arabica coffee has a medium-high trading volume.
The world coffee market was affected by the USD, which rose to its highest level in more than 2 months in the last trading session. However, experts said that yesterday's session, the London and New York exchanges continued to decline due to manipulation by hedge funds on the exchanges. Coffee prices increased during the session, but due to speculation on the exchanges, selling strongly at the peak and liquidating short purchases, the two exchanges fell and closed at negative levels.
In addition, favorable rains in Brazil have shown positive signs for the new harvest, contributing to "cooling down" the market.
In Vietnam, this is an ideal time for our country's coffee granary because the supply will be significantly supplemented in the coming time. However, the sharp drop in domestic coffee prices of nearly 2,000 VND/kg has made many farmers worried about their income.
