Coffee price on 03/11/2024: Approaching VND 91,000/kg

Coffee prices on March 11 in the world

In the world, the London and New York exchange prices on March 11 remained stable.

In particular, Robusta's price on the London exchange for delivery in May 2024 remained at $ 3,297/ton. And the July 2024 delivery term price returned and anchored at $ 3,190/ton.

On the New York exchange, Arabica's price for delivery in May 2024 remained at 185.20 cents/lb. The price of the July 2024 delivery date is 183.45 cents/lb.

World coffee prices today continue to fluctuate sideways. Last week, prices on both exchanges increased sharply, in which the prices of Robusta and Arabica futures for May delivery increased by $ 154 and 1.9 cents, respectively.

The ICO organization said that the recent increase in green coffee exports mainly reflects that production conditions have returned to normal in some countries after a year of decline.  

Total global exports of this commodity in the first 3 months of the 2023/24 crop year have reached 29.2 million bags, up 6.8% over the same period of the previous crop year. Production conditions in Peru have returned to normal this season after a decline last season. Meanwhile, production activities in Mexico are also going relatively smoothly. 

However, the output of some large coffee-growing areas is forecast to decrease. In Indonesia, the country's 2023/24 harvest is estimated to decrease by 16.6% compared to the previous crop year to 10 million bags due to too much rain in the period from April to May 2023, which has caused damage to this agricultural crop.

In Brazil, excessively dry conditions can reduce coffee production and be a factor in driving up prices. Rainfall in the Minas Gerais region of Brazil in the first week of February only reached 30.9 mm, equivalent to 49% of the historical average. Minas Gerais accounts for about 30% of Brazil's Arabica production.

Thus, world coffee prices on 03/11/2024 have no new fluctuations compared to yesterday.

Coffee price on March 11 in the country

The domestic market prices on March 11 continued to move sideways compared to yesterday.

Specifically, in Lam Dong province, 3 districts of Di Linh, Bao Loc and Lam Ha are trading at the same price level of VND 89,800/kg.

In Dak Lak, Cu M'gar district today is purchasing at VND 90,700/kg. Ea H'leo and Buon Ho districts are trading at a price of VND 90,600/kg. 

In Dak Nong province, traders Gia Nghia and Dak R'lap are trading at VND 90,800 and VND 90,700/kg, respectively. 

In Gia Lai province, Chu Prong district is trading at VND 90,600/kg, while Pleiku and La Grai are both maintaining the price of VND 90,500/kg.

The purchasing price in Kon Tum today is VND 90,500/kg.

Domestic coffee prices today have no new fluctuations and are approaching the threshold of VND 91,000/kg. Last week, the price of this agricultural product increased sharply to VND 5,000/kg.

Thus, the domestic coffee price on 03/11/2024 is trading around the threshold of VND 89,800 - 90,800/kg.