Coffee price today September 22, 2024: Continued to decrease sharply by more than 2,000 VND
Coffee prices today, September 22, range from 119,500 - 120,000 VND/kg, all down sharply by more than 2,000 VND/kg.
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 119,500 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 120,000 VND/kg. In Ea H'leo district (Dak Lak), Buon Ho (Dak Lak), the coffee price today is purchased at the same level of 119,900 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 120,000 VND/kg in Gia Nghia and 119,900 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 120,000 VND/kg (Chu Prong), in Pleiku and La Grai the price is 119,900 VND/kg.
Today's coffee price in Kon Tum province is purchased at 120,000 VND/kg.
In the first 8 months of 2024, Vietnam exported 1.06 million tons of coffee, earning 4.01 billion USD.
Compared to the same period last year, the volume of coffee exports decreased by 12.1% but the value increased by 35.6% due to higher selling prices. On average, the export price of coffee from Vietnam in the 8 months was 3,800 USD/ton, an increase of 54.3% compared to 2023.
In August alone, the average coffee export price was 5,278 USD/ton, 6.6% higher than in July and 72.9% higher than in August last year.
At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery decreased by 189 USD/ton, at 5,059 USD/ton, and for January 2025 delivery decreased by 186 USD/ton, at 4,803 USD/ton.
Arabica coffee price for December 2024 delivery decreased by 10.90 cents/lb, at 250.75 cents/lb, and for March 2025 delivery decreased by 11.05 cents/lb, at 248.65 cents/lb.
In New York and London, after a period of price volatility, both buyers and sellers are cautious, waiting for new information on the weather in Brazil to make decisions.
Buyers are worried about the high prices of coffee and hope that rains will help to reduce the price increase. On the other hand, coffee producers in Brazil are uncertain about the upcoming crop and think that the price of coffee will increase further.
One prominent problem is that the prices of coffee on the physical market and on the exchange do not match, making the price difference even more complicated, which has become a common phenomenon recently. One manifestation of this difference is that the price of coffee in Brazil has not increased in proportion to the increase in the world market price.
