Coffee price today September 27, 2024: Sharp increase to 1,200 VND/kg
Today, September 27, domestic coffee prices are at 121,000 - 122,000 VND/kg, coffee prices have increased sharply from 1,000 to 1,200 VND/kg compared to yesterday. Only in Gia Lai, coffee prices unexpectedly increased by only 100 VND.
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 121,000 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 122,000 VND/kg. In Ea H'leo district (Dak Lak), Buon Ho (Dak Lak), the coffee price today is purchased at the same level of 121,900 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 122,000 VND/kg in Gia Nghia and 121,900 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 120,800 VND/kg (Chu Prong), in Pleiku and La Grai the price is 120,700 VND/kg.
Today's coffee price in Kon Tum province is purchased at 120,800 VND/kg.
Robusta coffee prices have just reached a record high of $5,446 per ton, an unprecedented figure. This increase has helped coffee prices in the Central Highlands provinces increase significantly right before the new harvest season.
Since early September, world coffee prices have increased sharply, while domestic coffee prices have remained stable, causing some experts to worry that buyers may be delaying purchases to squeeze prices as farmers begin harvesting.
Some other experts believe that farmers do not feel pressure to sell immediately because they have already made a profit from selling durian. With coffee supply lower than demand, sellers have an advantage in the market.
At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery increased by 84 USD/ton, at 5,530 USD/ton, and for January 2025 delivery increased by 99 USD/ton, at 5,251 USD/ton.
Arabica coffee prices for December 2024 delivery increased by 3.60 cents/lb to 272.70 cents/lb, and for March 2025 delivery increased by 3.40 cents/lb to 270.25 cents/lb.
Consulting firm Hedgepoint estimates Brazil will produce 63 million bags of coffee in the 2024-2025 crop year, down 3 million bags from the previous crop year. Vietnam’s coffee output is estimated at 27 million bags, lower than previously forecast. Coffee prices are expected to continue to rise due to market fundamentals.
The global coffee market is likely to be in deficit for the fourth consecutive year due to production cuts in both Vietnam and Brazil. Unfavorable weather conditions are the main cause of the decline in coffee production in both countries.
In Brazil, rainfall has fallen short of forecasts, leading to localized droughts in some areas. In Vietnam, while rains have helped improve coffee yields after a drought, concerns remain that excessive rainfall due to La Nina could impact the harvest.
