Coffee price today August 23, 2024: Slight increase of 100 VND/kg.
Coffee prices today, August 23, range from 118,500 - 119,300 VND/kg, a slight increase of 100 VND compared to yesterday.
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 118,500 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 119,300 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 119,200 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 119,300 VND/kg in Gia Nghia and 119,200 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 119,300 VND/kg (Chu Prong), in Pleiku and La Grai the price is 119,200 VND/kg.
Today's coffee price in Kon Tum province is purchased at 119,300 VND/kg.
The domestic coffee market increased slightly by 100 VND compared to the same time yesterday.
The market is concerned about weather conditions in Brazil, which could affect coffee production in the 2025-2026 crop year. Coffee growers are facing drought, after worrying about frost in late August.
Coffee-growing regions in southeastern Brazil have not received rain for nearly two months, with forecasts suggesting the dry conditions could continue into September.
The lack of rain adversely affects the growth of coffee plants, especially during the flowering stage, which could reduce future coffee supplies.
At the end of the most recent trading session, the price of Robusta coffee in London for September 2024 delivery decreased by 75 USD/ton, at 4,879 USD/ton, and for November 2024 delivery decreased by 77 USD/ton, at 4,555 USD/ton.
Arabica coffee prices for September 2024 delivery decreased by 7.65 cents/lb, to 241.60 cents/lb, and for December 2024 delivery decreased by 6.80 cents/lb, to 240.25 cents/lb.
Brazil is finishing its coffee harvest and continues to export large volumes at reasonable prices. According to Cecafe, Brazil exported 203,000 tons of coffee in July, up 25% from last year. Of this, 54,000 tons were robusta, up 82%, while the rest was arabica.
In total, Brazil exported nearly 1.55 million tons in the first seven months of 2024, up 52% from 2023. Brazilian farmers are estimated to have sold about 40% of their harvest, similar to the previous year.
