Coffee price today October 31: Still low at 41,000 VND/kg

Coffee market price today 31/10

World coffee price today

In the world market, the price of coffee today (October 31) remained stable at both major exchanges.

At the latest trading session, the price of Robusta coffee on the London floor for delivery in January 2023 kept at $1,849/ton. And the price of coffee delivered in March 2023 on this floor at 1,837 USD/ton.

The price of Arabica coffee on the New York Stock Exchange delivered in December 2022 was at 169.8 cents/lb. For delivery in March 2023, the price of coffee on this floor is 167.75 cents/lb.

The world coffee market continues to move sideways. Last week, world coffee prices dropped sharply.

The price of Robusta coffee on the London floor for delivery in January 2023 fell deeply to 147 USD/ton; and the price of Arabica coffee delivered in December 2022 fell sharply by 21.1 cents/lb.

With this decrease, Arabica coffee is having the lowest price in the past 14 months, and Robusta coffee has fallen to the lowest level in the last 13 months.

Currently, experts are betting on the next interest rate hike of the Fed, along with the European Central Bank also raising interest rates on the euro, making the domestic currencies of countries weaken.

With that context, exporters predict that the world's coffee will continue to go down, as Vietnam has entered a new coffee harvest. Vietnam's new crop is expected to hit the market in early December 2022.

Thus, today's coffee price on October 31, 2022 in the world market is flat compared to yesterday.

Price of domestic coffee today

Coffee price today October 31 in the domestic market has no new changes compared to yesterday.

Specifically, the price of Lam Dong coffee (in 3 districts of Di Linh, Bao Loc and Lam Ha) is being purchased at 40,400 VND/kg today.

In Cu M'gar district (Dak Lak), the price of coffee today is kept at 41,000 VND/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is kept at 40,900 VND/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at 41,000 and 40,900 VND/kg respectively.

In Gia Lai, the price of coffee in Chu Prong today is at 41,000 VND/kg; while at Pleiku and La Grai are keeping the same level of 41,000 VND/kg.

The price of coffee today in Kon Tum is being purchased at VND 41,600/kg.

The domestic coffee market is still maintaining a low level. Last week, the price of domestic coffee lost up to 2,500-2,800 VND/kg.

In general, in October 2022, the domestic coffee price dropped from 5,400 to 5,700 VND/kg. Previously, in September 2022, the domestic coffee market lost an average of 1,600-1,800 VND/kg.

Currently, coffee in Dak Nong is entering the harvest phase. It is expected that the total area of coffee for the crop year 2022 - 2023 in the whole province is over 122,000 ha.

Coffee harvest time mainly focuses on November - December, some areas may last until January 2023.

Experts expect that, for the whole year of 2022, Vietnam's coffee industry can still set a record turnover of 4 billion USD and the increase may last into 2023.

Agricultural prices today on October 31 in the domestic market simultaneously moved sideways in both pepper and coffee. In which, the domestic price of pepper remained trading at 56,000 - 59,000 VND/kg.

Thus, the price of coffee today on October 31, 2022 in the domestic market is trading around the threshold of 40,400 - 41,000 VND/kg.

Coffee price list today 31/10

Below is the latest domestic coffee price list today, October 31, 2022. Unit: VND/kg

Coffee price list today October 31, 2022 in the domestic market