Coffee price today August 30, 2024: Continued slight increase to over 121,000 VND
Coffee price today, August 30, is around 121,000 - 122,000 VND/kg, continuing to increase by 400 VND compared to yesterday.
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 121,800 VND/kg. In Ea H'leo district (Dak Lak), Buon Ho (Dak Lak), the coffee price today is purchased at the same level of 121,700 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 122,000 VND/kg (Chu Prong), in Pleiku and La Grai the price is 121,900 VND/kg.
Today's coffee price in Kon Tum province is purchased at 122,000 VND/kg.
The domestic coffee market increased by 400 VND compared to the same time yesterday.
Experts say the increase in gold prices has led to an increase in coffee prices in the international market. Every time the price of gold increases, the price of coffee often increases as well.
Global political and military tensions have also contributed to the increase in coffee prices over the past half month.
With coffee prices currently high, coffee farmers are in high spirits. They hope that this will be the first time they enter the harvest season with a record price of over 100,000 VND/kg of coffee beans.
At the end of the most recent trading session, the price of Robusta coffee in London for September 2024 delivery decreased by 121 USD/ton, at 4,805 USD/ton, and for November 2024 delivery decreased by 113 USD/ton, at 4,604 USD/ton.
Arabica coffee price for September 2024 delivery decreased by 9.35 cents/lb, to 247.10 cents/lb, and for December 2024 delivery decreased by 9.30 cents/lb, to 244.70 cents/lb.
Mr. Le Duc Huy, director of Simexco Company in Dak Lak, announced that the recent heat wave has seriously damaged long-standing coffee gardens, causing coffee trees to dry out and die.
He said that although the situation had worried him in May, thanks to rains and high coffee prices, farmers have been actively taking care of their coffee, helping their coffee gardens recover. However, the yield is estimated to be down 10 to 15 percent from normal levels.
Coffee plantations planted with new varieties of younger, healthier trees have been less affected, with yields only dropping by about 5 to 7 percent. Mr. Huy said it is still too early to predict the exact yield and production of coffee this year, but he expected supplies to be slightly lower than last year.
