Currently, domestic coffee prices are just over 100,000 VND/kg, compared to a peak of over 125,000 VND/kg two months ago. The price drop is due to several reasons, most notably the fact that Vietnamese coffee is in harvest season, resulting in abundant supply.
On October 28th, the domestic market recorded the following prices. coffee Today the price is around 109,000 VND/kg.
Specifically, on October 28th, the price of coffee in Lam Dong was 108,000 VND/kg; coffee in Dak Lak and Gia Lai was over 109,000 VND/kg; while coffee in Dak Nong was slightly higher at 109,800 VND/kg; and coffee in Kon Tum province was purchased at 109,700 VND/kg.
Coffee prices on the international market have also seen a significant decline.
Robusta coffee prices in London, which were at $5,498 per ton for November 2024 delivery, are now only $4,430 per ton.
In less than a month, robusta coffee lost more than $1,000 per ton. And it's now only $4,411 per ton if delivered in January 2025.
Meanwhile, prices for Arabica coffee for December 2024 and March 2025 delivery fell sharply. Specifically, November and December delivery contracts decreased by $272/ton.
On October 28th, in a conversation with According to Tuoi Tre Online , Mr. Nguyen Nam Hai, chairman of the Vietnam Coffee and Cocoa Association, said the main reason is that Vietnamese coffee is currently in its harvest season.
"Vietnamese coffee is in harvest season, resulting in abundant supply. Furthermore, the European Commission (EC) is proposing a 12-month delay in the implementation of new import regulations, so there is no pressure to increase prices."
"And I'm sure coffee prices will continue to fall in the near future. This is normal because when the market fluctuates, prices will fluctuate accordingly," Mr. Hai said.
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