The EU is a market that consumes more than 40% of Vietnam's coffee output. For coffee exporting enterprises, the regulation that agricultural products exported to this market must not be grown on deforested or degraded land is creating challenges but also a new driving force for the strategy of developing the coffee industry in a sustainable manner.
Coffee price today 11/17/2024
World coffee prices adjusted slightly this weekend, after many consecutive strong increases.
Domestic coffee prices fell slightly last weekend, currently trading at around VND112,800 - 113,400/kg. Vietnam's coffee harvest season runs from early November to late December, a time when many countries do not harvest or harvest very little coffee.
In the world market, after 4 consecutive days of increase with more than 400 USD/ton, robusta has slowed down for a moment to adjust the market. Meanwhile, the price of arabica continues to increase, reaching a 13-year high.
Arabica prices continued to rise, hitting a 13-year high as investors reassessed next year’s crop outlook in top coffee producer Brazil and grew concerned about the crop in top robusta producer Vietnam.
Recent storms have slowed Vietnam’s coffee harvest, and rain remains a concern as traders expect the crop could fall by as much as 10%.
Vietnam's robusta coffee is very popular thanks to its unique flavor, and is rated higher than products from countries such as Brazil, India, Indonesia, etc. Currently, Vietnam is almost "alone" in the world coffee market because other countries have not entered the harvest season. This gives Vietnam the opportunity to maintain good prices.
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| Domestic coffee prices on November 16 decreased by 100 - 200 VND/kg in some key purchasing localities. (Source: aivivu) |
According to World & Vietnam , at the end of this weekend's trading session (November 16), the price of robusta coffee on the ICE Futures Europe London exchange slightly adjusted in opposite directions, the delivery period for January 2025 decreased by 4 USD, trading at 4,773 USD/ton. The delivery period for March 2025 increased by 4 USD, trading at 4,669 USD/ton. Trading volume was low.
Arabica coffee prices on the ICE Futures US New York exchange continued to increase sharply, with the December 2024 delivery period increasing by 2.85 cents, trading at 281.80 cents/lb. Meanwhile, the March 2025 delivery period increased by 3.9 cents, trading at 283.30 cents/lb. Trading volume was high.
Domestic coffee prices on November 16 decreased by 100 - 200 VND/kg in some key purchasing localities. Unit: VND/kg
(Source: giacaphe.com) |
The EU has made a final decision on the implementation date of the EU Deforestation Regulation (EUDR). Accordingly, the European Parliament (EP) has voted in favor of delaying and amending the application of the EUDR to give businesses more time to prepare for compliance with the EUDR. Accordingly, the EP has agreed to postpone the implementation for 12 months.
The European Union is a large coffee market, accounting for about 38% of Vietnam's total annual coffee exports. Among the top 10 coffee importing markets of Vietnam, there are 5 EU countries.
The EU is also the world's largest coffee importer, accounting for 33-35% of the global market share. The market's coffee consumption is expected to reach nearly 48 billion USD in 2024 and will increase to over 58 billion USD in 2029.
But while many people want to delay the regulation for another 12 months, many Vietnamese businesses said that some European importers have invested resources and are ready to implement the EUDR, and they also encourage Vietnamese businesses to actively implement this regulation.
Currently, some coffee trade contracts between Vietnamese enterprises and European partners include certificates of origin unrelated to deforestation.
EU anti-deforestation rules requiring key agricultural imports (coffee, cocoa, palm oil, soy, cattle, rubber and timber) not to be produced on deforested land have been delayed by a year.
This gives countries more time to better prepare for implementation. In the Central Highlands provinces, the coffee production and export industry has been taking steps to meet all strict regulations, especially the issue of environmentally responsible production.
European consumers in particular and the world in general are increasingly interested in safe agricultural products. Therefore, the EUDR law can be a lever to promote the coffee industry to develop in the direction of improving quality while protecting the environment.
In the context of climate change, in many places, farmers have backward farming techniques, overuse of chemical fertilizers causing ecosystem degradation and coffee encroachment on forestry land still occurs. Therefore, the strict regulations of the EU are both a challenge and an opportunity for us to make greater efforts in transparency from production to consumption, the first key of which is to raise awareness for farmers from the production stage.
Source: https://baoquocte.vn/gia-ca-phe-hom-nay-17112024-gia-ca-phe-trong-nuoc-dieu-chinh-phien-cuoi-tuan-tam-quan-trong-cua-thi-truong-eu-va-dong-luc-eudr-294022.html
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