As of 11am today (October 24), the domestic and international coffee markets have slightly increased compared to the closing price, increasing by an average of VND200/kg, causing prices to fluctuate between VND109,600 - VND110,000/kg. The average coffee purchase price in the Central Highlands provinces is VND109,900/kg.
Similar to Gia Lai province, Dak Lak province simultaneously increased slightly by 200 VND/kg, currently purchasing at 109,800 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 edged up slightly to 109,600 VND/kg.
Dak Nong province recorded the strongest increase in the country, currently standing at 110,000 VND/kg, an increase of 300 VND/kg.
Thus, domestic coffee prices have tended to increase again after a series of days of falling to the lowest level in the past 2 months.
For the world market, the London and New York exchanges are mixed with green and red. At the end of the most recent trading session, Robusta coffee prices in London are still far from the peak of 4,500 USD/ton. The November 2024 delivery period decreased slightly by 0.11% (equivalent to 5 USD/ton), reaching 4,482 USD/ton. On the other hand, the January 2025 delivery period increased by nearly 1% (equivalent to 18 USD/ton), listed at 4,443 USD/ton.
On the New York Stock Exchange, the price of Arabica coffee for December 2024 delivery increased again by 2.50 cents/lb, reaching 252.35 cents/lb. The contract for March 2025 delivery increased by less than 0.2 cents/lb, standing at 251.05 cents/lb.
Although coffee prices have recovered on the London and New York exchanges, the increase is still insignificant. Meanwhile, global coffee supply is forecast to continue to be lower than consumption demand.
According to statistics from coffee trader I&M Smith, in the 2024-2025 crop year, world coffee production is expected to reach 10.17 million tons. However, coffee consumption demand is estimated to be 0.12 tons higher, standing at 10.29 million tons.
Many countries are preparing for the 2024-2025 coffee harvest, such as Vietnam and India. Some Central American countries such as Brazil, Colombia, Peru and Indonesia are almost finished.
Coffee exports from Brazil, the world’s largest supplier, are currently facing transport problems. The main reason is a lack of containers and constant congestion at ports, which has affected the process of receiving and unloading goods. According to the Brazilian Coffee Exporters Association, in September alone, about 130,000 tons of coffee were affected by transport problems.
