Coffee price today August 19, 2024: Coffee price decreased sharply compared to the beginning of the month
Coffee prices today, August 19, range from 117,300 - 118,100 VND/kg, a slight increase of 300 VND compared to yesterday but a sharp decrease of 6,000 VND/kg compared to early August.
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 117,300 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 118,100 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 118,000 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 118,100 VND/kg in Gia Nghia and 118,000 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 118,000 VND/kg (Chu Prong), in Pleiku and La Grai the price is 117,900 VND/kg.
Today's coffee price in Kon Tum province is purchased at 118,000 VND/kg.
The domestic coffee market increased slightly by 300 VND compared to the same time yesterday.
Compared to August 1, domestic coffee prices have lost VND6,000/kg, while Robusta has increased by USD400/ton. Factors driving the recent sharp increase in coffee prices include falling inflation in the US and the appreciation of the Brazilian Real, which has reduced exports from Brazil, and speculators are covering short positions, pushing up coffee prices. Declining Arabica coffee inventories indicate rising demand.
At the end of the most recent trading session, the price of Robusta coffee in London for September 2024 delivery increased by 94 USD/ton, at 4,665 USD/ton, and for November 2024 delivery increased by 74 USD/ton, at 4,452 USD/ton.
Arabica coffee prices for September 2024 delivery increased by 5.55 cents/lb, to 245.45 cents/lb, and for December 2024 delivery increased by 6.05 cents/lb, to 244.10 cents/lb.
The EU Deforestation Regulation (EUDR) will take effect from January 1, 2025, causing concern for the Vietnamese coffee industry because the EU is the largest export market, accounting for 40% of Vietnam's total annual export output.
The EU's implementation of the European Quality Registration Regulation (EUDR) could eliminate a portion of Vietnam's robusta coffee, reducing global coffee supplies and potentially leading to a sudden increase in coffee prices in the European market.
