Coffee prices on 04/22/2024: holding firm at VND124,000/kg

Coffee prices on April 22 globally

On the global market, both the London and New York exchanges remained stable on April 22.

Specifically, Robusta prices on the London exchange for May 2024 delivery held steady at $ 4,083/ton. And the July 2024 futures contract remained unchanged at $ 4,080/ton.

Meanwhile, on the New York exchange, Arabica prices for May 2024 delivery remained at 241.40 cents/lb. And the July 2024 futures contract remained steady at 231.85 cents/lb.

World coffee prices today remain stable. Over the past week, these agricultural commodities have experienced significant increases. Specifically, Robusta and Arabica futures contracts for May delivery surged by $ 156 and 12.15 cents, respectively.

Global agricultural commodity prices are experiencing unprecedented highs. Robusta prices on the London exchange have increased by nearly $ 1,000/ton since the beginning of the year to $ 4,003 (as of April 16) for the May delivery contract. Arabica prices on the New York exchange have also soared to $ 5,100/ton, reaching a record high. Currently, cocoa and pepper prices worldwide have also risen by 30-40%.

Thus, on 04/22/2024, there were no new fluctuations in global coffee prices compared to the previous day.

Coffee prices on April 22 domestically

In the domestic market, coffee prices on April 22 remained stable compared to the previous day.

Specifically, in Lam Dong province, the districts of Di Linh, Bao Loc, and Lam Ha are trading at the same level of VND 122,500/kg.

In Dak Lak province, the district of Cu M'gar is purchasing at VND 123,500/kg today. Meanwhile, Ea H'leo and Buon Ho districts are trading at VND 123,400/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are trading at VND 124,000/kg each.

In Gia Lai province, Chư Prong district is trading at VND 122,500/kg, while Pleiku and La Grai districts are maintaining the same price of VND 122,400/kg.

The purchase price in Kon Tum province today is VND 122,500/kg.

The domestic coffee price today continues to remain steady, reaching the highest level at VND 124,000/kg. Over the past week, this agricultural product has continued to rise significantly by VND 7,000/kg.

At the beginning of the year, the coffee price was only at VND 70,000 VND/kg, but it has now surged to VND 124,000/kg. This level is three to four times higher than the same period last year and the highest ever recorded.

Similarly, the prices of durian and cocoa have also set new records in the first quarter of 2024, doubling compared to the beginning of the year. In March, durian prices reached VND 230,000/kg for Monthong variety at one point before cooling down due to the harvest season. As for cocoa, the price of fresh pods is currently being bought at VND 7,000-8,000/kg, a 60% increase compared to the same period in 2023.

According to locals, the sharp increase in exports has continuously pushed agricultural product prices to new highs, allowing them to earn high profits. Each hectare of land can yield profits ranging from 200 million to VND 3 billion (depending on the type of agricultural product). Among them, durian and coffee bring the highest profits as their prices consistently reach new peaks.

Thus, the domestic coffee price on 04/22/2024 is trading around the range of VND 122,500 - 124,000/kg.