Coffee price today September 18, 2024: Slight decrease due to profit-taking speculation
Coffee prices today, September 18, range from 122,800 - 123,200 VND/kg, slightly adjusted down from 600 to 700 VND/kg. Coffee prices decreased slightly due to profit-taking speculation.
Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 122,800 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 123,200 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 123,100 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 123,200 VND/kg in Gia Nghia and 123,100 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 123,200 VND/kg (Chu Prong), in Pleiku and La Grai the price is 123,100 VND/kg.
Today's coffee price in Kon Tum province is purchased at 123,200 VND/kg.
Coffee prices are expected to remain stable at high levels in September due to the gap between reduced supply and increased demand, according to the Ministry of Industry and Trade’s Import-Export Department. Vietnam could see a significant drop in coffee output in the 2024-2025 crop year, reaching its lowest level in 13 years.
On the other hand, global coffee consumption is expected to increase by the end of the year, especially from major markets such as Europe, America, the Middle East and Japan.
The recent strong growth in domestic Arabica coffee consumption, with double-digit growth, shows great potential for both domestic and export markets. Global demand for high-quality Arabica and specialty coffee from countries such as the EU, the US and Japan remains very high, often exceeding available supply.
At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery increased by 57 USD/ton, at 5,303 USD/ton, and for January 2025 delivery increased by 63 USD/ton, at 5,040 USD/ton.
Arabica coffee prices for December 2024 delivery increased by 5.95 cents/lb to 264.50 cents/lb, and for March 2025 delivery increased by 6.25 cents/lb to 262.35 cents/lb.
Coffee markets saw significant volatility. Both coffee exchanges opened with a surge, but then eased off and ended the session with slight losses.
Robusta coffee on the London exchange, hit a high of nearly $5,500/ton, up $240/ton, before falling sharply again. This price drop is said to be due to strong selling pressure at the end of the trading session. Experts say that coffee trading activities are currently mainly financial activities, with the participation of speculators.
Because coffee supply is not enough to meet demand, speculators often bet on the expectation that prices will increase, thereby pushing up coffee prices and then making profits. This coffee price is also used as a reference price for businesses in signing contracts for purchase and delivery on a term basis.