Coffee prices today, September 12, 2024: Slightly increased by 100 VND/kg
Coffee prices today, September 12th, range from 119,800 to 120,300 VND/kg. Domestic coffee prices increased slightly by 100 VND/kg in Dak Lak and Lam Dong provinces.
Specifically, in Di Linh, Lam Ha, and Bao Loc districts (Lam Dong province), the price of coffee today is being purchased at 119,800 VND/kg.
In Cu M'gar district (Dak Lak), the price of coffee today is 120,300 VND/kg. In Ea H'leo district (Dak Lak) and Buon Ho (Dak Lak), the price of coffee today is the same at 120,200 VND/kg.
Similarly, in Dak Nong province, today's coffee prices are being purchased at 120,300 VND/kg in Gia Nghia and 120,200 VND/kg in Dak R'lap.
In Gia Lai province, today's coffee price is 120,300 VND/kg (Chu Prong), while in Pleiku and La Grai it is 120,200 VND/kg.
Meanwhile, the price of coffee today in Kon Tum province is being purchased at 120,300 VND/kg.
Domestic coffee prices increased slightly by 100 VND/kg. The highest domestic coffee prices were recorded at 120,300 VND/kg in Gia Lai, Dak Lak, and Dak Nong provinces.
Both coffee exchanges saw significant price increases in the first trading session of the week. Market analysts are anticipating a Federal Reserve (Fed) interest rate cut this month, which, coupled with the drought situation in Brazil, has created optimism in the market.
The continuous decline in Vietnam's coffee exports in recent months is also a contributing factor to the increase in coffee prices. Businesses are striving to export coffee to Europe before new EU regulations on anti-deforestation come into effect.
Last week, Arabica coffee prices surged to their highest level in 13 years. Robusta coffee prices also reached a record high of $5,100 per ton, partly due to concerns about the severe drought in Brazil, the worst since 1981. However, Arabica coffee prices subsequently fell to their lowest level in two weeks as rain began to fall in Brazil.
At the close of the most recent trading session, Robusta coffee prices in London for September 2024 delivery rose by $54/ton to $4,951/ton, and for November 2024 delivery rose by $40/ton to $4,721/ton.
Arabica coffee prices for September 2024 delivery fell by 2.55 cents/lb to 244.65 cents/lb, and for December 2024 delivery fell by 2.50 cents/lb to 242.30 cents/lb.
Dak Nong province has a large coffee growing area, with 23,500 hectares meeting international standards such as 4C, RA, VietGAP, GlobalGAP, and organic, producing over 82,000 tons of coffee annually. The province also has 225 hectares of specialty coffee, with a yield of 251 tons per year.
Despite the volatile coffee market, farmers in Dak Nong remain steadfast in their commitment to coffee cultivation.
Coffee is the main source of income for approximately 70,000 households, with a total industry value reaching 300 trillion VND, higher than the total value of other crops in the province. Improving the quality and value of coffee is crucial and has a significant impact on the lives of people in Dak Nong.
