Coffee price today September 1, 2024: Slight increase, surpassing 121,000 VND/kg
Coffee prices today, September 1, range from 121,000 - 122,100 VND/kg, a slight increase of 300 - 500 VND in some provinces compared to yesterday.
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 121,000 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 121,900 VND/kg. In Ea H'leo district (Dak Lak), Buon Ho district (Dak Lak), the coffee price today is purchased at the same level of 121,800 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 122,100 VND/kg in Gia Nghia and 122,000 VND/kg in Dak R'lap.
In Gia Lai province, today's coffee price is at 121,900 VND/kg (Chu Prong), in Pleiku and La Grai the price is 121,800 VND/kg.
Today's coffee price in Kon Tum province is purchased at 121,900 VND/kg.
The domestic coffee market increased slightly from 300 to 500 VND compared to the same time yesterday.
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In August, coffee prices skyrocketed, reaching a high of $1,232 per tonne and setting a new record of $5,348 per tonne.
A report from the General Department of Customs said that in the first half of August alone, Vietnam exported 37,000 tons of coffee at an average price of 5,293 USD/ton, up 81% over last year.
Since the beginning of the 2023-2024 crop season (October 2023 to July 2024), Vietnam has exported 1.3 million tons of coffee, accounting for 90% of the total output of this crop, but down 12.4% compared to the previous crop season.
At the end of the most recent trading session, the price of Robusta coffee in London for September 2024 delivery increased by 47 USD/ton, at 4,948 USD/ton, and for November 2024 delivery increased by 37 USD/ton, at 4,729 USD/ton.
Arabica coffee prices for September 2024 delivery decreased by 3.55 cents/lb, to 244.05 cents/lb, and for December 2024 delivery decreased by 3.10 cents/lb, to 242.10 cents/lb.
Coffee traders and roasters in Europe are rushing to import large quantities of coffee before the EU's new anti-deforestation law comes into effect.
Coffee supplies in Europe come mainly from small farmers around the world, creating challenges in complying with the new regulations.
Traders are scrambling to ramp up imports to ensure they have enough coffee before December 30, 2024, when the new rules come into effect.
