November 8, 2024 | 21:26 GMT +7
November 8, 2024 | 21:26 GMT +7
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On the global markets, both the London and New York exchanges saw significant increases today.
In London, Robusta prices for the September 2024 contract increased by $ 163, reaching $ 4,348/ton. The November 2024 contract also rose significantly by $ 154, reaching $ 4,17 USD/ton.
In New York, Arabica prices for the September 2024 contract increased by 5.45 cents, reaching 234.40 cents/lb. The December 2024 contract rose by 5.6 cents, reaching 232.15 cents/lb.
Global coffee prices surged strongly today, the first trading day of the week, following news that the Fed may soon cut interest rates.
According to analysts at Citi Research, the Fed is expected to conduct multiple substantial interest rate cuts, starting in the coming months and continuing through next summer.
In a note last Friday, Citi’s research division forecasted that the Fed will reduce interest rates eight consecutive times, each by 25 basis points. This process will start in September this year and extend until July 2025.
Additionally, concerns over low inventory levels in Vietnam and insufficient rainfall in the Central Highlands, Vietnam's main coffee-growing region, are unsettling investors. Despite the Central Highlands entering the rainy season, global economists note that rainfall remains below the usual levels of previous years, which could negatively impact coffee plant growth. These factors contributed to the sharp rise in Robusta prices early this week.
Thus, global coffee prices on 07/09/2024, have significantly increased compared to yesterday.
In the domestic market, coffee prices today, July 9, have risen by VND 3,000 compared to yesterday.
Specifically, in Lam Dong province, the three districts of Di Linh, Bao Loc, and Lam Ha are trading at VND 125,900/kg.
In Dak Lak province, Cu M'gar district is purchasing at VND 126,600/kg today. Meanwhile, Ea H'leo and Buon Ho districts are trading at VND 126,500/kg.
In Dak Nong province, traders in Gia Nghia and Dak R'lap are trading at VND 127,100 and VND 127,000/kg, respectively.
In Gia Lai province, Chu Prong district is trading at VND 126,600/kg, while Pleiku and La Grai are both holding at VND 126,500/kg.
The purchase price in Kon Tum today is VND 126,500/kg.
Domestic coffee prices today have surged significantly, pushing this agricultural product above the high threshold of VND 127,000/kg. Similarly, domestic pepper prices have also increased by VND 1,000, bringing the domestic pepper price back to the level of VND 152,000/kg.
Thus, domestic coffee prices on 07/09/2024, are trading around the range of VND 125,900 - 127,100/kg.
$ 1 = VND 25.204 - Source: Vietcombank.
Translated by Hoang Duy
(VAN) Live pig prices on 11/06/2024, fluctuate by VND 1,000 - 2,000. The live pig market in all three regions is trading around VND 58,000 - 64,000/kg.
(VAN) Pepper prices on 11/06/2024, decreased by VND 1,000 in Ba Ria Vung Tau. Currently, domestic pepper prices are trading around VND 140,000 - 141,000/kg.
(VAN) Coffee prices on 11/06/2024 continue to rise. Domestic coffee prices have increased by VND 500, reaching a range of VND 106,500 - 107,000/kg.
(VAN) Pepper prices on 11/05/2024 showed no new fluctuations. Domestic pepper prices remain steady, trading around VND 140,000 - 141,000/kg.
(VAN) Live pig prices on 11/05/2024, have increased by VND 1,000. Currently, the live pig market in the three regions is trading around VND 58,000 - 64,000/kg.
(VAN) Coffee prices on 11/05/2024, show a significant increase. Domestic coffee prices have inched up by VND 200, trading around VND 106,000 - 106,500/kg.
(VAN) Coffee prices on 11/03/2024, remain at VND 105,800 - 106,200/kg. Domestic coffee prices dropped by VND 3,500, marking the 5th consecutive week of decline.