Coffee price today September 13, 2024: Strong increase, above 121,000 VND/kg
Coffee prices today, September 13, range from 121,000 to 121,500 VND/kg. Domestic coffee prices increased sharply by more than 1,000 VND/kg, reaching over 121,000 VND/kg in all provinces.
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 121,500 VND/kg. In Ea H'leo district (Dak Lak), Buon Ho (Dak Lak), the coffee price today is purchased at the same level of 121,400 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 121,500 VND/kg in Gia Nghia and 121,400 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 121,300 VND/kg (Chu Prong), in Pleiku and La Grai the price is 121,200 VND/kg.
Today's coffee price in Kon Tum province is purchased at 121,300 VND/kg.
The domestic coffee market increased sharply from 1,000 to 1,200 VND/kg. The highest domestic coffee price was at 121,500 VND/kg in Dak Lak and Dak Nong.
In the first 7 months of 2024, Vietnam exported 68,700 tons of coffee to Japan, earning 268.4 million USD. Although the export volume decreased slightly by 1.8%, the value increased significantly by 40.4% compared to the same period last year.
Processed and instant coffee stood out with sales of $60 million, up 28%. Robusta beans remained dominant with $191 million, up 45% in value despite a 6% decline in volume.
The average export price of Vietnamese coffee to Japan is currently 3,909 USD/ton, 43% higher than last year.
At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery increased by 38 USD/ton, at 5,046 USD/ton, and for January 2025 delivery increased by 25 USD/ton, at 4,794 USD/ton.
Arabica coffee price for December 2024 delivery increased by 2.05 cents/lb, at 248.70 cents/lb, and for March 2025 delivery increased by 1.55 cents/lb, at 246.00 cents/lb.
Coffee prices are rising due to bad weather around the world, which is reducing supplies. Severe drought in Brazil, the top producer of arabica coffee, is pushing up prices. Brazil’s Minas Gerais region, which accounts for 30% of arabica production, had no rain last week.
Robusta coffee prices also rose sharply after Typhoon Yagi hit Vietnam, although it did not harm coffee growing areas.
Robusta coffee prices are expected to remain volatile in 2024 due to changes in supply and demand, transportation conflicts, and less-than-ideal production conditions. Investors and businesses need to closely monitor the market to develop business strategies that are appropriate to the current coffee price situation.