Coffee price today September 14, 2024: Continuously increasing due to USD exchange rate decrease
Coffee prices today, September 14, range from 121,500 - 122,000 VND/kg, continuing to increase by more than 500 VND/kg. Coffee export prices continue to increase sharply due to the weakening USD exchange rate.
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 121,500 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 122,000 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 121,900 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 122,000 VND/kg in Gia Nghia and 121,900 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today 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 500 to 600 VND/kg. The highest domestic coffee price was at 122,000 VND/kg in Dak Lak and Dak Nong.
Vietnam’s coffee output is forecast to fall to a 13-year low in 2024/25, just as demand in major northern hemisphere markets is picking up, which could boost coffee trade in the coming months, especially ahead of the winter roasting season in Europe and the US.
In Lam Dong, about 2 hectares of coffee grown using the "multi-stem, non-top-stop" method are being affected by top-dead disease, with a damage rate of 20-30%.
Diseased coffee trees often lose 1-2 small branches. The disease has similar symptoms to those of twig borers and stem borers. The top leaves of diseased coffee trees will turn yellow, droop, then dry and fall off, leaving bare branches. Coffee berries on diseased branches will also turn yellow and gradually dry up and turn black. If the disease continues to develop, the top branches of the coffee tree will completely dry up.
At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery increased by 156 USD/ton, at 5,233 USD/ton, and for January 2025 delivery increased by 153 USD/ton, at 4,969 USD/ton.
Arabica coffee prices for December 2024 delivery increased by 9.30 cents/lb to 258.70 cents/lb, and for March 2025 delivery increased by 8.85 cents/lb to 255.85 cents/lb.
In Brazil, robusta coffee prices have surpassed arabica coffee prices for five consecutive days since December 2015, according to research from Cepea/Esalq at the University of Sao Paulo. Robusta prices have surged in the past two years and reached a peak last week, prompting Brazilian farmers and investors to buy more of the variety.
Hedgepoint Global Markets reported that Brazilian farmers are holding onto robusta coffee in anticipation of higher prices. Brazil is selling record amounts of robusta due to shortages from Vietnam, and Indonesia is also reducing exports in anticipation of higher prices.
Coffee and gold prices both hit new highs as expectations of a rate cut by the US Federal Reserve (Fed) drove down the value of the US dollar. The decline in the dollar has stimulated demand for commodities. It is expected that the Fed will announce a rate cut on September 19.
