Coffee prices today, September 28, 2024: Mixed increases and decreases.
Domestic coffee prices today, September 28th, are at 121,400 - 122,600 VND/kg, showing mixed increases compared to yesterday. World coffee prices continue to rise, breaking new records.
Specifically, in Di Linh, Lam Ha, and Bao Loc districts (Lam Dong province), the price of coffee today is being purchased at 121,600 VND/kg.
In Cu M'gar district (Dak Lak), the price of coffee today is 122,600 VND/kg. In Ea H'leo district (Dak Lak) and Buon Ho (Dak Lak), the price of coffee today is the same at 122,500 VND/kg.
Similarly, in Dak Nong province, today's coffee prices are being purchased at 121,600 VND/kg in Gia Nghia and 121,500 VND/kg in Dak R'lap.
In Gia Lai province, today's coffee price is 121,400 VND/kg (Chu Prong), while in Pleiku and La Grai it is 121,300 VND/kg.
Meanwhile, the price of coffee today in Kon Tum province is being purchased at 121,400 VND/kg.
Robusta coffee prices are rising due to supply shortages from major producing countries such as Brazil, Vietnam, and Indonesia. In Vietnam, coffee production has fallen from an average of 30-31 million bags (60 kg per bag) to 27.5 million bags.
Yields may continue to decline as farmers switch to growing higher-value crops such as durian. The 2024-2025 coffee crop is facing drought, and low rainfall in May and June has reduced the size of coffee beans, leading to lower yields.
The current coffee market is influenced by speculators, causing prices to fluctuate outside the normal supply and demand cycle. Domestically, trading volume is low due to the depletion of supplies from the previous crop, and new crop coffee remains scarce until the harvest peaks in November.
At the close of the most recent trading session, Robusta coffee prices in London for November 2024 delivery fell by $103/ton to $5,424/ton, and for January 2025 delivery fell by $91/ton to $5,151/ton.
Arabica coffee prices for December 2024 delivery fell by 6 cents/lb to 267.90 cents/lb, and for March 2025 delivery fell by 6.10 cents/lb to 265.65 cents/lb.
According to the consulting firm Hedgepoint, Vietnam's coffee production for the 2024-2025 crop year may fall short of expectations, reaching only around 27 million bags, due to rising prices. The decrease in production in Vietnam and Brazil could lead to a global coffee shortage. However, coffee prices are likely to rise in the near future thanks to several external factors, bringing good news to farmers.
Robusta coffee remains Vietnam's main product, with 15,155 tons exported in the first half of September, earning $76.583 million. During the same period, Vietnam only exported 1,119 tons of Arabica coffee, earning $4.705 million. Therefore, Robusta coffee exports were 14,036 tons higher than Arabica exports.
Domestic and international coffee prices may fluctuate due to the conflict in the Middle East and prolonged droughts in some areas. If the drought in Brazil is not resolved, global coffee supply could decrease significantly.
