Shocking price reduction of VND 4,500/kg after new proposal of European Commission

Domestic coffee prices today

Specifically, in Di Linh, Lam Ha, Bao Loc districts ( Lam Dong ), today's coffee price is purchased at 116,300 VND/kg.

In Cu M'gar district ( Dak Lak ), today's coffee price is at 117,200 VND/kg. In Ea H'leo district (Dak Lak), Buon Ho district (Dak Lak), today's coffee price is purchased at the same level of 117,100 VND/kg.

Similarly in Dak Nong province, today's coffee purchase price is at 116,300 VND/kg in Gia Nghia and 116,200 VND/kg in Dak R'lap.

In Gia Lai province, coffee price today is at 116,200 VND/kg (Chu Prong), in Pleiku and La Grai the price is 116,100 VND/kg.

Today's coffee price in Kon Tum province is purchased at 116,200 VND/kg.

Province/district (survey area)	Average (Unit: VND/kg)	Change from yesterday (Unit: VND/kg)
Dak Lak	117,200	-4,500
Lam Dong	116,300	-4,500
Kon Tum	116,200	-4,500
Gia Lai	116,200	-4,500
Dak Nong	116,300	-4,500

Coffee prices both domestically and internationally fell sharply today due to the strengthening US dollar and problems with the EU's anti-deforestation law. The EU has adjusted some provisions of its anti-deforestation law, allowing coffee stored in standard warehouses to continue to be sold without deforestation certification.

The EU has decided to delay the introduction of anti-deforestation laws following protests from countries exporting affected agricultural products such as coffee and palm oil. The anti-deforestation laws, which will come into effect in 2025, will require producers to prove their products are not linked to deforestation.

If the law had been implemented as planned, the coffee supply could have decreased, increasing coffee prices. However, the announcement of the postponement of the law has abruptly stopped the price fever of coffee, especially Robusta, creating a surprising reversal in the last session.

World coffee prices today

At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery decreased by 116 USD/ton, at 4,995 USD/ton, and for January 2025 delivery decreased by 77 USD/ton, at 4,785 USD/ton.

Arabica coffee price for December 2024 delivery decreased by 1.80 cents/lb, at 254.70 cents/lb, and for March 2025 delivery decreased by 1.65 cents/lb, at 253.10 cents/lb.

Major coffee exporting countries are seeing positive production and export prospects, putting pressure on coffee prices. Honduras, Central America’s largest coffee producer, is expected to increase exports to 5.37 million bags, up 14.5% from the previous year. Vietnam is in the midst of its coffee harvest with positive forecasts, and growers are focusing on caring for their coffee trees due to rising prices.

Despite the recent decline in coffee prices in the last two sessions, London coffee prices are still 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 a shortage in the US, the world's top coffee consumer.

Source: https://baodaknong.vn/gia-ca-phe-hom-nay-4-10-2024-giam-soc-4-500-dong-kg-sau-de-xuat-moi-cua-uy-ban-chau-au-230862.html