Coffee price today September 7, 2024: Domestic price increases, world price decreases sharply
Coffee prices today, September 7, range from 119,800 - 120,900 VND/kg, coffee prices increased slightly by 300 to 400 VND/kg. Coffee prices on the two floors decreased sharply.
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 119,800 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 120,500 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 120,400 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 120,900 VND/kg in Gia Nghia and 120,800 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 120,500 VND/kg (Chu Prong), in Pleiku and La Grai the price is 120,400 VND/kg.
Today's coffee price in Kon Tum province is purchased at 120,500 VND/kg.
The domestic coffee market increased slightly compared to the same time yesterday. The average price nationwide is 120,600 VND/kg.
The market is currently very sensitive due to high prices and limited supply. In the past in Vietnam, coffee prices often fell during the harvest season, causing farmers to sell early and businesses to sign contracts early.
Recently, coffee prices have not decreased but increased during the harvest season, so farmers keep coffee and businesses do not sign contracts early.
Vietnam's coffee output is expected to fall 10% year-on-year due to unfavorable weather, and prices could hit new highs.
At the end of the most recent trading session, the price of Robusta coffee in London for September 2024 delivery decreased by 141 USD/ton, at 4,770 USD/ton, and for November 2024 delivery decreased by 129 USD/ton, at 4,555 USD/ton.
Arabica coffee prices for September 2024 delivery decreased by 7.55 cents/lb to 236.65 cents/lb, and for December 2024 delivery decreased by 7.40 cents/lb to 235.25 cents/lb.
The number of Arabica coffees graded and certified on the New York exchange increased by 9,591 bags, reaching a total of 823,325 bags.
Vietnam’s new coffee harvest season will begin in October 2024 and last until September 2025. Despite the upcoming crop, coffee supply is not expected to increase until later in the year, when new coffee is harvested and enters the market.
