Coffee prices today September 9, 2024: Last week fell sharply both domestically and internationally
Coffee prices today, September 9, range from 117,800 to 118,900 VND/kg. Overall, domestic coffee prices fell by an average of 3,200 VND/kg for the week. World prices fell sharply when the Fed decided to lower interest rates.
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 117,800 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 118,500 VND/kg. In Ea H'leo district (Dak Lak), Buon Ho (Dak Lak), the coffee price today is purchased at the same level of 118,400 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 118,900 VND/kg in Gia Nghia and 118,800 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 118,500 VND/kg (Chu Prong), in Pleiku and La Grai the price is 118,400 VND/kg.
Today's coffee price in Kon Tum province is purchased at 118,500 VND/kg.
The domestic coffee market fell by an average of VND3,200/kg. The two exchanges fell sharply at the end of the week as investment funds wanted to reduce their overbought positions before the Fed decided to lower interest rates.
Vietnam's coffee export volume in August decreased by 14.10% compared to the previous year, reaching only 1,216,667 bags. As of the first eleven months of the 2023/2024 crop year, coffee exports decreased by 12.71%, with a total of 23,441,199 bags.
The decline reflects low production and a shortage of robusta coffee from Vietnam. Coffee prices on the London market have risen, reflecting this shortage.
Coffee revenue in the first eight months of the year increased by 34.80% year-on-year, reaching about 4 billion USD.
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 price for September 2024 delivery decreased by 8.20 cents/lb to 236.00 cents/lb, and for December 2024 delivery decreased by 8.10 cents/lb to 234.55 cents/lb.
Robusta coffee prices have fluctuated wildly over the past week, with a range of $250 to $310 per tonne. Arabica coffee prices have fallen to a three-week low. A sharp increase in global coffee exports has put downward pressure on prices.
According to the International Coffee Organization (ICO), global coffee exports in July increased by 12.2% compared to last year, reaching 11.29 million bags. From October to July, global coffee exports increased by 10.5% compared to the same period last year, reaching 115.01 million bags.
Arabica coffee prices have fallen to a two-week low following recent rains in Brazil. While coffee prices remain high, uncertainty over low inventories makes prices vulnerable to weather fluctuations.
