Of which, Arabica coffee prices increased 3.1% to nearly 6,000 USD/ton, the highest level in nearly two months, and Robusta coffee prices increased 2.1% to 4,632 USD/ton, reaching the highest level in 4 weeks. Concerns about the weather in Brazil and Vietnam have overshadowed pressure from the rising Dollar Index and USD/BRL exchange rate.
Vietnam is entering the main harvest of the 2024-2025 crop year in the context of market concerns about the impact of La Nina, heavy rains that could disrupt harvesting progress and reduce coffee output. Meanwhile, Brazil is also facing the risk of lack of water for coffee trees to grow and harvest in the 2025-2026 crop year. Meteorologist Climatempo said that after a brief spell of rain midweek in Minas Gerais, Brazil’s largest Arabica coffee growing state, the area is expected to get hotter and drier in the next 10 days.
In addition, the Brazilian Coffee Exporters Association (CECAFE) announced that in October this country exported 4.93 million bags of coffee of all kinds, an increase of 11.5% over the same period in 2023. Strong exports are supported by available supply after the 2024 harvest and increased demand for coffee from abroad.
Notably, today is the last day of the meeting to decide when to implement the EUDR anti-deforestation-related import regulations of the European Union (EU). Previously, the European Commission (EC) proposed to postpone the implementation of EUDR for another 12 months and received approval from the European Council. If the meeting approves this proposal, coffee prices may face pressure when countries importing from Europe temporarily stop promoting purchases as recently.
In the domestic market, as of 11:30 a.m. today (November 14), the domestic and world coffee markets continued to gain momentum, increasing by an average of 400 VND/kg, causing prices to fluctuate between 110,500 – 110,800 VND/kg. kg. The average coffee purchasing price in the Central Highlands provinces is 110,700 VND/kg.
Similar to Gia Lai, Dak Lak province today purchased coffee at 110,700 VND/kg, an increase of 400 VND/kg.
Lam Dong is still the province with the lowest coffee purchasing price in the Central Highlands region. Compared to yesterday’s closing level, coffee prices in this area have changed, increasing by 400 VND/kg, standing at 110,500 VND/kg.
Notably, coffee prices in Dak Nong province still maintain the top position in the country, currently fluctuating around 110,800 VND/kg.
Today’s domestic coffee price has nearly reached 111,000 VND/kg after a series of days approaching 100,000 VND/kg.
