Coffee prices on 06/29/2024: Continue to decrease slightly

Coffee prices on June 29 globally

Globally, the London and New York markets showed slight fluctuations on June 29.

Specifically, Robusta prices on the London exchange for September 2024 delivery decreased by $ 36, settling at $ 4,011/ton. Meanwhile, the November 2024 delivery fell by $ 15, reaching $ 3,850/ton.

On the New York exchange, Arabica prices for September 2024 delivery increased slightly by 0.45 cents, reaching 226.80 cents/lb. However, the December 2024 delivery fell slightly by 0.3 cents, standing at 224.50 cents/lb.

Today, global coffee prices are mixed. A slight drop in the USD continues to support an increase in Arabica prices, while Robusta prices continue to decline.

As of the latest survey, the DXY index, which measures the value of the USD against six key currencies (EUR, JPY, GBP, CAD, SEK, CHF), is at 105.87.

The USD depreciated after new data showed inflation in the world's largest economy fell last month, reinforcing expectations that the Fed will begin cutting interest rates this year.

Arabica prices are also supported by reports from the Expocacer cooperative, which indicates that Brazilian coffee farmers are harvesting smaller beans than usual this season, following a period of hot and dry weather that harmed crop development.

Although the extent of the impact is currently uncertain, concerns have led to a downward adjustment in estimated Arabica production.

Thus, global coffee prices on 06/29/2024, are mixed compared to the previous day.

Coffee prices on June 29 domestically

Domestically, the coffee market today, June 29, has slightly decreased compared to yesterday.

Specifically, in Lam Dong province, the three districts of Di Linh, Bao Loc, and Lam Ha are all trading at VND 118,600/kg.

In Dak Lak, Cu M'gar district is purchasing at VND 119,600/kg today. Ea H'leo and Buon Ho districts are trading at VND 119,500/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are trading at VND 119,900 and VND 119,800/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 119,700/kg, while Pleiku and La Grai are both maintaining a price of VND 119,600/kg.

The buying price in Kon Tum today is VND 119,700/kg.

Today, domestic coffee prices continue to slightly decrease and have not maintained the threshold of VND 120,000/kg.

Thus, domestic coffee prices on 06/29/2024, are trading around the range of VND 118,600 - 119,900/kg.

$ 1 = VND 25.223 - Source: Vietcombank.