Coffee price today September 15, 2024: Export price reaches record of over 5000 USD
Coffee prices today, September 15, range from 123,500 - 124,000 VND/kg, continuing to increase by 2,000 VND/kg. Coffee export prices hit a record of more than 5,000 USD.
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 123,500 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 124,000 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 123,900 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 124,000 VND/kg in Gia Nghia and 123,900 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 123,900 VND/kg (Chu Prong), in Pleiku and La Grai the price is 123,800 VND/kg.
Today's coffee price in Kon Tum province is purchased at 123,900 VND/kg.
In August, Robusta and Arabica coffee prices skyrocketed on the international market, reaching multi-year highs. At the end of August, coffee prices reached a 13-year high.
Coffee prices are forecast to remain high in September due to reduced supply and increased demand. Vietnam’s coffee production for the 2024-2025 crop year is expected to fall to a 13-year low.
Northern Hemisphere coffee markets are recovering from the summer, which could boost coffee trading in the coming months, especially ahead of the winter roasting season in Europe and the US.
At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery increased by 190 USD/ton, at 5,267 USD/ton, and for January 2025 delivery increased by 182 USD/ton, at 4,998 USD/ton.
Arabica coffee prices for December 2024 delivery increased by 10.05 cents/lb, to 259.45 cents/lb, and for March 2025 delivery increased by 9.60 cents/lb, to 256.60 cents/lb.
For the first time in history, Vietnam's coffee export price has surpassed 5,000 USD/ton. Vietnam's coffee inventory in September decreased, the supply is almost exhausted.
The new coffee harvest will begin in October and peak in November and December. Coffee production in the 2024-2025 crop year is expected to decrease by about 10% compared to the previous crop year, estimated at about 1.5 million tons.
Although coffee production is expected to increase during the harvest season, coffee prices are expected to remain stable at high levels, which is beneficial for farmers. The impact of climate change and the El Nino phenomenon, combined with geopolitical conflicts and transportation tensions, makes it unlikely that coffee prices will fall much. Coffee has become the world's most popular financial speculative commodity, after oil and gold.
