Coffee price today August 25, 2024: Increased by 1,500 VND after 1 day of adjustment
Coffee price today, August 25, is in the range of 119,000 - 119,800 VND/kg, continuing to increase by 1,500 VND compared to yesterday.
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 119,000 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 119,800 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 119,700 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 119,800 VND/kg in Gia Nghia and 119,700 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 119,800 VND/kg (Chu Prong), in Pleiku and La Grai the price is 119,700 VND/kg.
Today's coffee price in Kon Tum province is purchased at 119,800 VND/kg.
The domestic coffee market increased slightly by 1,500 VND compared to the same time yesterday.
Farmers in the Central Highlands are actively preparing for the new crop with optimism, hoping that coffee will continue to bring good economic efficiency, not inferior to pepper and durian.
A preliminary report from the General Department of Customs said that in the first 15 days of August 2024, Vietnam exported 36,903 tons of coffee, earning 195.34 million USD. Although the quantity decreased by 7.5% compared to the same period last year, the value increased by 67.4%.
The average export price of coffee during this period reached a record of 5,293 USD/ton, an increase of 342 USD/ton (6.9%) compared to July 2024, an increase of 2,369 USD/ton (81%) compared to the same period in 2023, and an increase of 2,244 USD/ton (nearly 74%) compared to January 2024.
At the end of the most recent trading session, the price of Robusta coffee in London for September 2024 delivery increased by 225 USD/ton, at 5,128 USD/ton, and for November 2024 delivery increased by 141 USD/ton, at 4,715 USD/ton.
Arabica coffee prices for September 2024 delivery increased by 4.40 cents/lb to 247.30 cents/lb, and for December 2024 delivery increased by 3.60 cents/lb to 244.80 cents/lb.
Coffee prices rebounded from their initial declines and rose sharply on Saturday, with Robusta hitting a record high while Arabica also rose to a two-and-a-half-year high on Tuesday.
The price increase was caused by poor weather in Brazil and Vietnam, which raised concerns about global coffee supplies. The coffee market is under pressure due to tight supplies, and is therefore very sensitive to any negative news related to supply.
According to expert Nguyen Quang Binh, coffee prices on both exchanges have increased sharply, especially Robusta coffee, after the news that the US FED is likely to reduce USD interest rates.
