As of 11am today (October 31), the domestic and international coffee markets have reversed sharply, increasing by an average of VND600/kg, causing prices to fluctuate between VND108,800 - VND109,200/kg. The average coffee purchase price in the Central Highlands provinces is VND109,200/kg.
Similar to Dak Lak, Gia Lai province today simultaneously increased by 600 VND/kg, purchasing at 109,200 VND/kg and 109,100 VND/kg respectively.
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 VND108,800/kg, an increase of VND600/kg.
Notably, Dak Nong province is currently at 109,200 VND/kg, an increase of 600 VND/kg.
Over the past week, domestic coffee prices have been increasing and decreasing continuously. After a sudden sharp decrease (October 30, 2024), coffee prices continued to increase again with green covering the whole area. The average price approached the mark of 110,000 VND/kg.
On the London and New York exchanges, the coffee market showed signs of improvement. 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 January 2025 delivery period increased by more than 1% (equivalent to 55 USD/ton), reaching 4,453 USD/ton. In the same direction, the March 2025 delivery period increased by 1.18% (equivalent to 51 USD/ton), listed at 4,363 USD/ton.
In the New York Arabica coffee market, the December 2024 contract increased slightly by 1.50 cents/lb, reaching 249.60 cents/lb. The March 2025 contract increased by 0.30 cents/lb compared to yesterday's closing session, currently standing at 249.05 cents/lb.
After yesterday's sharp decline, price recovery has returned on both exchanges, under pressure from the ongoing harvest in Vietnam's supply.
According to the International Coffee Organization (ICO), coffee supplies are gradually recovering after two consecutive years of record shortages. The world's coffee output in the 2023-2024 crop year is expected to reach 10.68 million tons, up 5.8% over the previous crop year. Of which, Arabica coffee output increased by 8.8% to 6.13 million tons; while Robusta coffee increased by only 2.1% to 4.53 million tons.
Therefore, the world coffee market in the 2023-2024 crop year is expected to have a surplus of about 100,000 tons. However, previously in the 2022-2023 crop year, the global coffee supply was short by about 300,000 tons, and in the 2021-2022 crop year, there was a record shortfall of 516,000 tons.
In the international market, coffee supply in Africa increased the most with an increase of 12.1% to 1.2 million tons. The world's largest coffee supply, South America, increased by 9.8% to 5.35 million tons.
