Coffee prices on 09/1/2024: Domestic prices rise sharply

Coffee prices on September 12 globally

Globally, the two exchanges in London and New York saw mixed movements on September 12.

In London, Robusta prices for November 2024 delivery surged by $ 111 (equivalent to 2.27%), reaching $ 5,008/ton. The January 2025 contract also rose by $ 88 (equivalent to 1.88%), reaching $ 4,769/ton.

Meanwhile, on the New York exchange, Arabica prices for December 2024 delivery reversed, falling by 0.55 cents (equivalent to 0.22%), down to 246.65 cents/lb. The March 2025 contract slightly decreased by 0.35 cents (equivalent to 0.14%), sitting at 244.45 cents/lb.

Global coffee prices today have surged sharply on the London exchange, but slightly declined on the New York exchange.

According to the ICO, the global economic situation remains difficult, with cheap capital limited due to persistently high interest rates worldwide.

Additionally, geopolitical tensions in the Middle East continue to negatively impact the stability of container supply and the full utilization of shipping routes. Traffic is still being diverted from the Suez Canal, forcing ships to go around the Cape of Good Hope.

These factors, combined with a tightening global coffee supply and a cumulative supply-demand balance deficit of -13.1 million bags over the past six years, have pressured prices to rise in the global market.

The current economic environment limits the ability to hold large inventories at low costs, as repaying financial institutions does not create a competitive business model.

However, the impact of "just-in-time" purchasing also does not offer cost efficiency. This creates short-term upward pressure on the prices of this agricultural product, as demand remains high while supply contracts.

Thus, global coffee prices on 09/12/2024 showed mixed trends compared to the previous day.

Coffee prices on September 12 domestically

Domestically, the coffee market continues to rise compared to the previous day.

Specifically, in Lam Dong province, the three districts of Di Linh, Bao Loc, and Lam Ha are trading at VND 120,800/kg.

In Dak Lak, Cu M'gar district is buying at VND 121,300/kg today, while Ea H'leo and Buon Ho districts are trading at VND 121,200/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are trading at VND 121,300 and VND 121,200/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 121,300/kg, while Pleiku and La Grai are both holding steady at VND 121,200/kg.

Meanwhile, coffee purchase prices in Kon Tum today stand at VND 121,200/kg.

Domestic coffee prices today have surged by up to VND 1,000, helping this agricultural product exceed the VND 121,000/kg threshold. This marks the third consecutive day of rising domestic coffee prices.

Thus, on 09/12/2024, domestic coffee prices are trading around VND 119,700 - 120,300/kg.

$ 1 = VND 24.335 - Source: Vietcombank.