Coffee prices today September 20, 2024: Arabica and Robusta both slightly decreased
Coffee prices today, September 20, range from 123,200 - 123,600 VND/kg. Arabica and Robusta coffee both decreased slightly after the FED reduced interest rates.
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 123,200 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 123,600 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 123,500 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 123,600 VND/kg in Gia Nghia and 123,500 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 123,500 VND/kg (Chu Prong), in Pleiku and La Grai the price is 123,400 VND/kg.
Today's coffee price in Kon Tum province is purchased at 123,500 VND/kg.
Storm No. 4 is expected to bring moderate to heavy rain and thunderstorms to the Central Highlands, which could affect the upcoming coffee harvest. The continuous rain and storms are likely to delay the harvest, while coffee prices are at an all-time high.
Market analysts are closely monitoring weather changes in Vietnam, especially from October 2024, with concerns about unusually early coffee ripening.
Rabobank noted that rainfall has been lacking in Arabica coffee growing regions since the start of the dry season, and forecasts that the global coffee market could see a small surplus next year. Factors such as shipping delays, container shortages, and new EU anti-deforestation laws could keep coffee prices high this year.
At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery decreased by 66 USD/ton, at 5,268 USD/ton, and for January 2025 delivery decreased by 55 USD/ton, at 5,015 USD/ton.
Arabica coffee prices for December 2024 delivery decreased by 1.70 cents/lb to 262.70 cents/lb, and for March 2025 delivery decreased by 1.90 cents/lb to 260.40 cents/lb.
Coffee prices saw significant volatility in the recent trading session after the Federal Reserve (Fed) announced a 0.5% interest rate cut. Arabica coffee prices fell slightly after the session, while Robusta maintained its gains.
Coffee prices on the New York Stock Exchange fell due to the Rabobank report. Although the market had partly predicted and prepared for the Fed's decision to cut interest rates, the effect of this on coffee prices was not immediate but will take effect in the near future.
Coffee trading in Vietnam has been sluggish due to tight supplies. Investors are concerned about weather issues affecting the upcoming crop, with El Niño forecast to disrupt and reduce output.
