Coffee price today September 17, 2024: Increasing without stopping, continuously breaking the peak
Coffee prices today, September 17, are in the range of 123,500 - 123,800 VND/kg, slightly adjusted down from 100 to 200 VND/kg. World coffee prices are increasing without stopping, continuously at new highs.
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 123,500 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 123,800 VND/kg. In Ea H'leo district (Dak Lak), Buon Ho (Dak Lak), the coffee price today is purchased at the same level of 123,700 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 123,800 VND/kg in Gia Nghia and 123,700 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 123,800 VND/kg (Chu Prong), in Pleiku and La Grai the price is 123,700 VND/kg.
Today's coffee price in Kon Tum province is purchased at 123,800 VND/kg.
Coffee prices are expected to continue to rise due to expectations that the US Federal Reserve (Fed) will cut interest rates at its upcoming meeting. Economist Nguyen Quang Binh expressed concern that the expectation of interest rate cuts has lasted for months, leading to excessive buying on the two exchanges. Binh predicted that before prices rise again, the market may see a downward correction.
News of dry weather in Brazil has also contributed to the upward trend in coffee prices. Lack of rain has caused soil moisture in Brazil to drop sharply, raising concerns about the health of coffee trees and the ability to flower in the upcoming season, amid tight global coffee supplies. Brazilian coffee producers have slowed sales after increasing trading last month, in an attempt to take advantage of favorable prices.
A recent survey found that as of September 10, coffee sales accounted for about 54% of Brazil’s total coffee production in 2024/25. That was up 14% from the previous month, and also higher than the 50% sales level in the same period last year, and surpassing the five-year average from 2019 to 2023.
At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery increased by 188 USD/ton, at 5,455 USD/ton, and for January 2025 delivery increased by 175 USD/ton, at 5,173 USD/ton.
Arabica coffee prices for December 2024 delivery increased by 10.60 cents/lb to 270.05 cents/lb, and for March 2025 delivery increased by 10.35 cents/lb to 266.95 cents/lb.
World coffee prices are experiencing a strong increase, according to Mr. Nguyen Ngoc Luan, General Director of Global Trade Links Company Limited, due to high consumption demand at the end of the year in the context of limited supply.
Mr. Luan explained that although world coffee prices increased, domestic coffee prices did not increase accordingly because they had been adjusted upward before and have now stabilized. Domestic and international coffee prices are now equivalent when considering the exchange rate. Mr. Luan also commented on the fluctuations in domestic coffee prices in April, saying that the increase was not natural but due to the intervention of speculators.
With the upcoming coffee harvest starting in October, Mr. Luan predicts that coffee prices will fluctuate between 120,000 and 130,000 VND/kg, and are unlikely to decrease. This is the price that coffee processing companies have expected and used to place upcoming orders.