Coffee prices today, September 26, 2024: Mixed increases and decreases of 100 VND/kg.
Today, September 26th, domestic coffee prices are at 120,000 - 120,800 VND/kg, with mixed increases and decreases of 100 to 200 VND/kg in different localities compared to yesterday. World coffee prices continue their upward trend, reaching their highest level in a week.
Specifically, in Di Linh, Lam Ha, and Bao Loc districts (Lam Dong province), the price of coffee today is being purchased at 120,000 VND/kg.
In Cu M'gar district (Dak Lak), the price of coffee today is 120,800 VND/kg. In Ea H'leo district (Dak Lak) and Buon Ho (Dak Lak), the price of coffee today is the same at 120,700 VND/kg.
Similarly, in Dak Nong province, today's coffee prices are being purchased at 120,800 VND/kg in Gia Nghia and 120,700 VND/kg in Dak R'lap.
In Gia Lai province, today's coffee price is 120,700 VND/kg (Chu Prong), while in Pleiku and La Grai it is 120,600 VND/kg.
Meanwhile, the price of coffee today in Kon Tum province is being purchased at 120,700 VND/kg.
Mr. Vo Dinh Danh, Director of the Dak Mil Agricultural and Forestry Cooperative, said that coffee prices have surged since the 2023-2024 crop year, making it difficult to procure fresh coffee beans. The cooperative needs fresh coffee beans that meet standards such as 4C and organic certification to produce specialty coffee, and wants to purchase coffee beans with at least 80-100% ripe cherries.
However, in the previous season, the ripening rate of the fruit only reached 60-70% because farmers harvested early out of fear of theft, making it difficult for the cooperative to purchase quality raw materials. Mr. Danh expressed concern that farmers might continue to harvest unripe coffee beans next season, and the cooperative aims to purchase 100 tons of clean green coffee beans.
Harvesting unripe coffee beans can reduce the yield of clean coffee and affect the reputation of Vietnamese coffee in the long term. Mr. Danh and the cooperative are encouraging farmers not to harvest unripe coffee beans and are cooperating with local authorities to protect the coffee plantations and ensure a high percentage of ripe beans.
At the close of the most recent trading session, Robusta coffee prices in London for November 2024 delivery rose by $20/ton to $5,332/ton, and for January 2025 delivery rose by $7/ton to $5,042/ton.
Arabica coffee prices for December 2024 delivery fell by 1.10 cents/lb to 266.70 cents/lb, and for March 2025 delivery fell by 1.30 cents/lb to 264.55 cents/lb.
The dry weather conditions in Brazil have affected coffee production, especially during the flowering stage. Recent rains may help stimulate flowering, but more rain is needed for the coffee cherries to develop properly.
The weakening of the US dollar and fluctuations in the Federal Reserve's policy have contributed to the rise in coffee prices. New EU regulations aimed at combating deforestation may be delayed, which would incentivize coffee imports into the EU this year.
Vietnam, as the world's leading producer of Robusta coffee, is experiencing production fluctuations that are impacting the global coffee market. Coffee prices have risen to a one-week high due to concerns about adverse weather affecting supply from major producing countries.
