Coffee price today September 12, 2024: Slight increase of 100 VND/kg
Coffee prices today, September 12, range from 119,800 - 120,300 VND/kg. Domestic coffee prices increased slightly by 100 VND/kg in Dak Lak and Lam Dong.
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 119,800 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 120,300 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 120,200 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 120,300 VND/kg in Gia Nghia and 120,200 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 120,300 VND/kg (Chu Prong), in Pleiku and La Grai the price is 120,200 VND/kg.
Today's coffee price in Kon Tum province is purchased at 120,300 VND/kg.
The domestic coffee market increased slightly by VND100/kg. The highest domestic coffee price was VND120,300/kg in Gia Lai, Dak Lak and Dak Nong.
Two coffee exchanges saw significant price increases in the first trading session of the week. Market analysts are expecting the Federal Reserve to cut interest rates this month, which, along with the drought situation in Brazil, has created optimism in the market.
The continued decline in Vietnam’s coffee exports in recent months has also contributed to the price increase, with businesses scrambling to export coffee to Europe before new EU anti-deforestation regulations come into effect.
Arabica coffee prices soared to a 13-year high last week. Robusta coffee prices also hit a record $5,100 a tonne, partly due to concerns about Brazil’s worst drought since 1981. However, Arabica prices have since fallen to a two-week low as rains have begun to fall in Brazil.
At the end of the most recent trading session, the price of Robusta coffee in London for September 2024 delivery increased by 54 USD/ton, at 4,951 USD/ton, and for November 2024 delivery increased by 40 USD/ton, at 4,721 USD/ton.
Arabica coffee price for September 2024 delivery decreased by 2.55 cents/lb, at 244.65 cents/lb, and for December 2024 delivery decreased by 2.50 cents/lb, at 242.30 cents/lb.
Dak Nong is a province with a large coffee area, with 23,500 hectares meeting international standards such as 4C, RA, VietGAP, GlobalGAP and organic, producing more than 82,000 tons of coffee per year. The province also has 225 hectares of specialty coffee, with an output of 251 tons per year.
Despite the fluctuating coffee market, Dak Nong farmers remain steadfast in growing coffee.
Coffee is the main source of income for about 70,000 households, with a total industry value of up to 300,000 billion VND, higher than the total value of other crops in the province. Improving the quality and value of coffee is very important, having a great impact on the lives of people in Dak Nong.
