As of 11:30 a.m. today (October 26), the domestic and international coffee markets unexpectedly increased sharply compared to the closing price, an average increase of VND1,200/kg, causing prices to fluctuate between VND109,400 - 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 reversed and increased sharply by 1,200 VND/kg, currently purchasing at 109,800 VND/kg.
Meanwhile, despite an increase of VND1,000/kg, 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 are currently at VND109,400/kg.
In the same direction, Dak Nong province also recorded a sharp increase, currently standing at 110,000 VND/kg.
Thus, domestic coffee prices changed direction, causing the average price at the end of the week to approach 110,000 VND/kg.
For the world market, the London and New York exchanges were covered in green. At the end of the most recent trading session, the price of Robusta coffee in London approached the peak of 4,500 USD/ton. The November 2024 delivery period increased by 1.42% (equivalent to 62 USD/ton), reaching 4,430 USD/ton. In the same direction, the January 2025 delivery period increased by nearly 2% (equivalent to 74 USD/ton), listed at 4,411 USD/ton.
On the New York Stock Exchange, the price of Arabica coffee for December 2024 delivery increased sharply by 2.95 cents/lb, reaching 248.40 cents/lb. The contract for March 2025 delivery increased by more than 0.1 cent/lb, standing at 247.50 cents/lb.
In the world market, the Brazilian Real continued to decline, causing the USD/BRL exchange rate to increase during trading hours. In this context, the market is concerned that Brazilian farmers will increase their selling. Because this decision will earn more foreign currency, thereby putting pressure on coffee prices.
According to the Vietnam Coffee and Cocoa Association (VICOFA), the global coffee industry is facing many difficulties and challenges, and climate change has greatly affected coffee productivity and quality.
In addition, political instability in many regions such as geopolitical tensions in the Middle East, Russia, Ukraine, etc. have significantly impacted the global economy. It is forecasted that this year, coffee prices will continue to fluctuate within a wide range, making it difficult to purchase and execute export contracts.
