As of 11:30 a.m. today (November 4), the domestic and international coffee markets are in contrast, with an average decrease of VND500/kg, causing prices to fluctuate between VND105,500 - VND106,000/kg. The average coffee purchase price in the Central Highlands provinces is VND106,000/kg.
Similar to Dak Lak, Dak Nong province today simultaneously reduced 500 VND/kg, all purchasing at 106,000 VND/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 has now reached 105,500 VND/kg, down 500 VND/kg.
Notably, coffee prices in Gia Lai province are the highest in the country, currently fluctuating around 105,900 VND/kg.
The domestic coffee trading session at the beginning of the week witnessed a sharp decline in prices. After a sharp drop of VND1,200/kg, coffee prices continued to hit a low. The average price has returned to around VND105,000/kg.
On the London and New York exchanges, the coffee market remained unchanged. At the end of the most recent trading session, the price of Robusta coffee in London approached the $4,000/ton mark. The delivery terms for January 2025 and March 2025 remained unchanged, at $4,279/ton and $4,208/ton, respectively.
In the New York Arabica coffee market, contracts for delivery in December 2024 and March 2025 remained unchanged from yesterday's closing session, currently standing at 242.95 cents/lb and 242.40 cents/lb.
There are many different opinions on the forecast for the 2024-2025 coffee crop in Vietnam.
According to a report by the United States Department of Agriculture (USDA), Vietnam's coffee output in the 2024-2025 crop year will continue to remain high, estimated at around 29 million bags. Of these, 24.4 million bags will be exported and 4.6 million bags will be for domestic consumption.
However, some other sources said that coffee output this crop year could range from 26 to 27 million bags.
According to many experts, with the current situation, the domestic and foreign coffee markets are likely to continue to decline in the short term. This is considered a not very sudden development when the coffee market is experiencing many fluctuations. Therefore, businesses and growers should be cautious in trading activities to cope with unpredictable fluctuations.
Despite a significant increase in value thanks to the highest price in more than 30 years, the 2023-2024 crop year recorded a decrease in Vietnam's coffee export output. The total coffee export output in the previous crop year reached 1.45 million tons, with a turnover of about 5.4 billion USD - an increase of 33% in value but a decrease of 12.7% in volume.
