Coffee price today August 27, 2024: Coffee price highest in 15 years
Coffee prices today, August 27, are in the range of 119,200 - 120,200 VND/kg, a slight increase of 200 to 400 VND compared to yesterday. Robusta coffee prices have increased to their highest level in 15 years.
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 119,200 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 district (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 120,200 VND/kg in Gia Nghia and 120,100 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.
The domestic coffee market increased slightly by 200 to 400 VND compared to the same time yesterday.
Recent market reports indicate that green coffee prices, especially Robusta, have risen to their highest levels in 15 years. Slowing exports from Vietnam are seen as one of the reasons for the rise in coffee prices.
Although there are signs that the upcoming crop season may be favorable, this has not slowed the pace of price increases.
It is expected that in 2024, Vietnam's coffee exports could reach a record of 5 billion USD, contributing significantly to the country's economic growth.
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 0.65 cents/lb to 247.90 cents/lb, and for December 2024 delivery increased by 0.55 cents/lb to 245.35 cents/lb.
In the first half of August 2024, Vietnam exported agricultural products with a total value of 1.09 billion USD, up 40.6% over the same period last year.
Although the volume of coffee exports decreased by 7.5% to only 36,903 tons, the export value increased by 67.4%, reaching 195 million USD.
The average export price of coffee in the first 15 days of August was 5,293 USD/ton, 342 USD/ton higher than in July 2024, up 6.9%; more than 2,369 USD/ton compared to the same period in 2023, up 81%; more than 2,244 USD/ton compared to January 2024, up nearly 74%.
