Coffee prices have dropped sharply to just over 100,000 VND/kg, and are expected to drop further.

Currently, domestic coffee prices are just over 100,000 VND/kg, while 2 months ago the peak was over 125,000 VND/kg. There are many reasons for the price drop, the most prominent being that Vietnamese coffee is in season, with abundant supply.

Vietnamese coffee is in harvest season, domestic coffee prices have decreased, only about 100,000 VND/kg - Photo: NGUYEN KHANH

October 28, recorded domestic market, price coffee Today at about 109,000 VND/kg.

Specifically, the price of coffee on October 28 in Lam Dong was 108,000 VND/kg; coffee in Dak Lak and Gia Lai was over 109,000 VND/kg; coffee in Dak Nong was "slightly" higher, 109,800 VND/kg; coffee in Kon Tum province was purchased at 109,700 VND/kg.

Coffee prices on the international market also recorded a significant decrease.

The price of robusta coffee in London, if delivered in November 2024, was at 5,498 USD/ton, now only 4,430 USD/ton.

In less than a month, robusta coffee lost more than $1,000/ton. And only $4,411/ton, if delivered in January 2025.

Meanwhile, Arabica coffee for delivery in December 2024 and March 2025 fell sharply. Specifically, futures for delivery in November and December decreased by 272 USD/ton.

October 28, exchange with Tuoi Tre Online , Mr. Nguyen Nam Hai, Chairman of the Vietnam Coffee and Cocoa Association, said the main reason is that Vietnamese coffee is in harvest season.

"Vietnamese coffee is in harvest season, supply is abundant. In addition, the European Commission (EC) is proposing to postpone the implementation of new regulations on goods imports by 12 months, so there is no pressure to increase prices.

And surely the price of coffee will decrease in the future. This is normal because when the market fluctuates, the price will "hold" accordingly," said Mr. Hai.

Source: https://baoquangninh.vn/gia-ca-phe-giam-manh-chi-con-tren-100-000-dong-kg-du-doan-se-con-giam-nua-3326472.html