Coffee price on 04/09/2024: Rising above VND 104,000/kg

Coffee prices on April 9 around the world

In the world, the London and New York exchange prices on April 9 fluctuated slightly.

In particular, the price of Robusta on the London exchange for delivery in May 2024 decreased by $ 2; down to about $ 3,742/ton. And the July 2024 delivery term price still increased slightly by $ 4; up to $ 3,683/ton.

On the New York exchange, the price of Arabica delivered in May 2024 decreased slightly by 1.4 cents; down to 211.10 cents/lb. And the July 2024 delivery term decreased by 1.55 cents; at 209.45 cents/lb.

On the New York exchange, the price of Arabica delivered in May 2024 decreased slightly by 1.4 cents; down to 211.10 cents/lb. And the July 2024 delivery term decreased by 1.55 cents; at 209.45 cents/lb.

World coffee prices today simultaneously decreased slightly. However, according to experts, the July 2024 delivery date will increase due to market concerns about low supply from Vietnam in the context that the weather in key areas is also unfavourable and is affecting the upcoming harvest.

According to statistics from Eurostat, in 2023, the EU imports of coffee (HS code 0901) from the world reached 4.05 million tons, worth EUR 19.17 billion (equivalent to $ 0.79 billion), down 9% in volume and 10.2% in value compared to 2022.

The reason why the EU reduces imports of this agricultural product in 2023 is due to economic recession and high inflation, causing people to tighten spending. However, when the economy recovers, European people's demand for this product will increase again.

Thus, world coffee prices on 04/09/2024 mainly decreased compared to yesterday.

Coffee prices on April 9 in the country

Domestically, the coffee market on April 9 increased sharply by VND 1,000/kg compared to yesterday.

Specifically, in Lam Dong province, 3 districts of Di Linh, Bao Loc and Lam Ha are trading at the same level of VND 104,000/kg.

In Dak Lak, Cu M'gar district today is purchasing at VND 104,500/kg. Meanwhile, Ea H'leo and Buon Ho districts are trading at VND 104,300/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are trading at VND 104,500 and VND 104,400/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 104,300/kg, while Pleiku and La Grai are maintaining the same price at VND 104,200/kg.

The purchasing price in Kon Tum today is VND 104,200/kg.

Domestic coffee prices today increased sharply and easily surpassed a new peak - VND 104,000/kg, despite the world's decline. The reason is said to be due to the hot weather recently, which is greatly affecting the upcoming harvest.

According to records, in early April 2024, the Central Highlands provinces are entering the peak period of the dry season, and this year's drought is expected to be more severe than usual. Water levels and flows on rivers and streams gradually decrease and remain lower than average for many years. Thousands of ha of crops withered due to lack of water.

The situation of little rain, drought, and water shortage in the dry months of 2024 will greatly impact people's production and daily activities. The director of the Dak Nong Department of Agriculture and Rural Development said that according to forecasts, in the coming days, the temperature will increase to 37-38 degrees Celsius, and there is a risk of water shortage for 8,600 ha of crops.

In Dak Lak and Gia Lai provinces, according to statistics from the authorities, there are also hundreds of ha of crops and rice suffering from drought and lack of irrigation water. Meanwhile, in Lam Dong, the drought level is lower, but some localities also have serious water shortages, affecting people's lives.

Thus, the domestic coffee price on 04/09/2024 is trading around the threshold of VND 104,000 - 104,500/kg.