Coffee price today October 5, 2024: Continued sharp decline

Domestic coffee prices today

Specifically, in Di Linh, Lam Ha, and Bao Loc districts ( Lam Dong province ), the price of coffee today is being purchased at 113,800 VND/kg.

In Cu M'gar district ( Dak Lak ), the price of coffee today is 114,700 VND/kg. In Ea H'leo district (Dak Lak) and Buon Ho (Dak Lak), the price of coffee today is the same at 114,600 VND/kg.

Similarly, in Dak Nong province, today's coffee prices are being purchased at 114,500 VND/kg in Gia Nghia and 114,400 VND/kg in Dak R'lap.

In Gia Lai province, today's coffee price is 114,500 VND/kg (Chu Prong), while in Pleiku and La Grai it is 114,400 VND/kg.

Meanwhile, the price of coffee today in Kon Tum province is being purchased at 114,500 VND/kg.

Province/district (survey area)	Average (Unit: VND/kg)	Change compared to yesterday (Unit: VND/kg)
Dak Lak	114,700	-2,500
Lam Dong	113,800	-2,500
Kon Tum	114,500	-1,700
Gia Lai	114,500	-1,700
Boeing Nong	114,500	-1,800

In March 2024, a majority of European Union (EU) member states proposed reducing or suspending the application of the EUDR regulation, fearing that the law could harm EU farmers by preventing them from exporting products from deforested land. This year, the EU has reduced some environmental protection measures to ease farmer opposition related to environmental policies and cheap imports, a move that has drawn criticism from environmental activists.

The EUDR regulations require companies importing certain products such as soybeans, beef, and coffee to demonstrate that their supply chains do not cause deforestation, or face heavy penalties. Companies need to create digital maps of their supply chains, including identifying the origin of raw materials from small farms in remote areas. Some argue that this is overly complex given that global supply chains involve millions of farms and numerous intermediaries with data that is difficult to verify.

Eurocommerce, representing the European retail sector, expressed gratitude to the EC for listening to their concerns about compliance and the risk of supply chain disruptions. Brussels believes that the EUDR regulation is necessary to prevent deforestation, one of the leading causes of climate change, second only to the burning of fossil fuels.

World coffee prices today

At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery increased by 33 USD/ton, at 4,954 USD/ton, and for January 2025 delivery increased by 38 USD/ton, at 4,758 USD/ton.

Arabica coffee price for December 2024 delivery increased by 0.20 cent/lb, at 252.25 cent/lb, and for March 2025 delivery increased by 0.35 cent/lb, at 250.85 cent/lb.

Despite falling coffee prices in the last two sessions, prices on the London exchange remain high compared to the beginning of the year and previous years. Strikes by workers at US East Coast ports have disrupted the unloading of imported coffee, causing supply shortages in the US, the world's leading coffee consumer.

Source: https://baodaknong.vn/gia-ca-phe-hom-nay-5-10-2024-tiep-tiep-giam-manh-230952.html