Coffee prices today, September 20, 2024: Arabica and Robusta both saw a slight decrease.
Coffee prices today, September 20th, range from 123,200 to 123,600 VND/kg. Both Arabica and Robusta coffee prices saw a slight decrease after the FED lowered interest rates.
Specifically, in Di Linh, Lam Ha, and Bao Loc districts (Lam Dong province), the price of coffee today is being purchased at 123,200 VND/kg.
In Cu M'gar district (Dak Lak), the price of coffee today is 123,600 VND/kg. In Ea H'leo district (Dak Lak) and Buon Ho (Dak Lak), the price of coffee today is the same at 123,500 VND/kg.
Similarly, in Dak Nong province, today's coffee prices are being purchased at 123,600 VND/kg in Gia Nghia and 123,500 VND/kg in Dak R'lap.
In Gia Lai province, today's coffee price is 123,500 VND/kg (Chu Prong), while in Pleiku and La Grai it is 123,400 VND/kg.
Meanwhile, the price of coffee today in Kon Tum province is being purchased at 123,500 VND/kg.
Typhoon No. 4 is expected to bring moderate to heavy rain and thunderstorms to the Central Highlands region, potentially affecting the upcoming coffee harvest. The continuous rain and storms could delay the harvest, while coffee prices are rising to unprecedented levels.
Market analysts are closely monitoring weather patterns in Vietnam, particularly from October 2024 onwards, with concerns about the unusual phenomenon of premature coffee ripening.
Rabobank notes that reduced rainfall in Arabica coffee-growing regions since the start of the dry season, and forecasts that the global coffee market may 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 close of the most recent trading session, Robusta coffee prices in London for November 2024 delivery fell by $66/ton to $5,268/ton, and for January 2025 delivery fell by $55/ton to $5,015/ton.
Arabica coffee prices for December 2024 delivery fell by 1.70 cents/lb to 262.70 cents/lb, and for March 2025 delivery fell by 1.90 cents/lb to 260.40 cents/lb.
In recent trading sessions, the coffee market witnessed significant volatility 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 exchange fell following a report from Rabobank. Although the market had somewhat anticipated and prepared for the Fed's interest rate cut, the effect on coffee prices will not be immediate but will manifest in the coming period.
In Vietnam, coffee trading activity is not very vibrant due to scarce supply. Investors are concerned about weather conditions affecting the upcoming harvest, with forecasts suggesting that El Niño weather patterns could hinder and reduce production.
