Coffee price today September 28, 2024: Mixed increase and decrease
Today, September 28, domestic coffee prices are at 121,400 - 122,600 VND/kg, fluctuating compared to yesterday. World coffee prices are increasing, breaking new records.
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 121,600 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 122,600 VND/kg. In Ea H'leo district (Dak Lak), Buon Ho (Dak Lak), the coffee price today is purchased at the same level of 122,500 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 121,600 VND/kg in Gia Nghia and 121,500 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 121,400 VND/kg (Chu Prong), in Pleiku and La Grai the price is 121,300 VND/kg.
Today's coffee price in Kon Tum province is 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 each) to 27.5 million bags.
Output may fall further as farmers switch to higher-value crops such as durian. The 2024-2025 coffee crop is facing drought, and low rainfall in May and June reduced the size of coffee beans, leading to lower output.
The coffee market is currently dominated by speculators, causing prices to fluctuate outside the normal supply and demand patterns. Domestically, trading volumes are low as supplies from the previous crop have run out, and new-crop coffee is scarce until the harvest season peaks in November.
At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery decreased by 103 USD/ton, at 5,424 USD/ton, and for January 2025 delivery decreased by 91 USD/ton, at 5,151 USD/ton.
Arabica coffee price for December 2024 delivery decreased by 6 cents/lb, at 267.90 cents/lb, and for March 2025 delivery decreased by 6.10 cents/lb, at 265.65 cents/lb.
According to consulting firm Hedgepoint, Vietnam’s coffee output for the 2024-2025 crop year may fall short of expectations, at only around 27 million bags, due to rising prices. The decline in output in Vietnam and Brazil could lead to a shortage in the global coffee market. However, coffee prices may rise in the coming time thanks to a number of external factors, bringing good news to farmers.
Robusta coffee remains Vietnam’s main product, with 15,155 tonnes exported in the first half of September, earning US$76.583 million. During the same period, Vietnam exported only 1,119 tonnes of Arabica coffee, earning US$4.705 million. Therefore, Robusta coffee export volume is 14,036 tonnes higher than Arabica.
Domestic and international coffee prices could be volatile due to the war in the Middle East and prolonged drought in some places. If the drought in Brazil is not resolved, global coffee supplies could fall significantly.
