Coffee prices on 09/09/2024: Approaching VND 119,000/kg

Coffee prices on September 9 globally

On the global market, both the London and New York exchanges remained steady on September 9.

Robusta prices on the London exchange for November 2024 delivery held at $ 4,770/ton, while the January 2025 contract was at $ 4,555/ton.

Meanwhile, on the New York exchange, Arabica prices for December 2024 delivery stood at 236.00 cents/lb, and the March 2025 contract was at 234.55 cents/lb.

Global coffee prices remained stable today. However, summarizing this week's performance, both exchanges experienced significant declines. Robusta prices for November delivery dropped by $ 178/ton, while Arabica prices for December delivery fell by 8.05 cents/lb.

The steep decline at the end of the week was driven by a surge in global coffee exports, following a report from the International Coffee Organization (ICO).

Brazil's government released preliminary data showing that the country's green coffee exports in August were 4.86% higher than in the same period last year, totalling over 3.45 million bags.

Thus, global coffee prices on 09/09/2024 remained steady compared to yesterday.

Coffee prices on September 9 domestically

Domestically, the coffee market saw no changes today compared to yesterday.

Specifically, in Lam Dong province, the districts of Di Linh, Bao Loc, and Lam Ha were all trading at VND 117,800/kg.

In Dak Lak, Cu M'gar district was purchasing at VND 118,500/kg, while Ea H'leo and Buon Ho were trading at VND 118,400/kg.

In Dak Nong, traders in Gia Nghia and Dak R'lap were trading at VND 118,900/kg and VND 118,800/kg, respectively.

In Gia Lai province, Chu Prong district was trading at VND 118,500/kg, while Pleiku and La Grai held steady at VND 118,400/kg.

Lastly, in Kon Tum province, today's purchase price was VND 118,500/kg.

Domestic coffee prices today remain stable, with the highest level reaching VND 118,900/kg. Over the past week, this agricultural commodity has lost up to VND 3,200.

The Vietnam Customs reported that Vietnam's coffee exports in August recorded a 14.10% decrease compared to the same period last year, reaching only about 1.22 million bags. The cumulative export volume for the first 11 months of the 2023/2024 crop year was reported to be 12.71% lower than the previous year, standing at over 23.44 million bags.

These figures indicate a lower export volume and a shortage of supply from this leading Robusta producer during the 2023/24 crop year. This, in turn, reflects the record-high prices currently being set on the London exchange.

Thus, domestic coffee prices on 09/09/2024, are trading around VND 117,800 - 118,900/kg.

$ 1 = VND 24.410 - Source: Vietcombank.