Coffee prices on 06/26/2024: Turns to drop sharply

Coffee prices on June 26 globally

On the global market, both London and New York exchanges saw sharp declines.

Specifically, Robusta prices on the London exchange for September 2024 dropped by $ 135 USD to $ 4,117/ton. The November 2024 futures plummeted by $ 126 to $ 3,937/ton.

Meanwhile, on the New York exchange, Arabica prices for September 2024 decreased by 6.95 cents to 229.30 cents/lb. The December 2024 futures also saw a significant drop of 7 cents to 227.25 cents/lb.

Global coffee prices have sharply declined today after a strong session of gains yesterday. Not only coffee, but many other agricultural commodities including gold and crude oil have also experienced simultaneous declines. Throughout the week, Robusta and Arabica prices have been fluctuating at high levels.

According to experts, the decline in coffee prices is due to contract liquidations, coupled with news of rain in key coffee-growing regions of Brazil.

According to the latest data from Eurostat, record wholesale prices have had a limited impact on consumer prices, with coffee inflation rising by 1.6% in April across the 27 EU countries and by 2.5% in Italy.

Roasters are beginning to pass on the increased input costs to retail prices. Additionally, some traders believe concerns about Vietnam's production levels may persist due to insufficient rainfall.

High wholesale prices may continue as global Robusta demand increases and farmers leverage their positions in the current situation; many have also switched to durian due to China's significant demand.

Thus, global coffee prices on 06/26/2024, have uniformly decreased compared to yesterday.

Coffee prices on June 26 domestically

In the domestic market, coffee prices have sharply declined compared to yesterday.

Specifically, in Lam Dong province, the districts of Di Linh, Bao Loc, and Lam Ha are trading at VND 121,000/kg.

In Dak Lak province, Cu M'gar district is purchasing at VND 122,300/kg. Meanwhile, Ea H'leo and Buon Ho districts are trading at VND 122,200/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are trading at VND 122,400/kg and VND 122,300/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 122,200/kg, while Pleiku and La Grai districts are maintaining prices at VND 122,100/kg.

In Kon Tum province, the purchase price today is VND 122,200/kg.

Domestic coffee prices today have dropped significantly by VND 1,500 - 2,000, bringing the price down to around VND 122,000/kg. Similarly, domestic pepper prices have also decreased slightly by VND 1,000 in some places, trading around VND 144,000 -146,000/kg.

Thus, domestic coffee prices on 06/26/2024, are trading around VND 121,000 to 122,400/kg.

$ 1 = VND 25.220 - Source: Vietcombank