Coffee prices on 07/15/2024: Approaching the VND 129,000/kg mark

Coffee prices on July 15 globally

In the global market, both London and New York exchanges remained stable on July 15.

Specifically, Robusta coffee on the London Exchange for September 2024 delivery held steady at $ 4,617/ton. The November 2024 contract also maintained the same level at $ 4,617/ton.

Meanwhile, on the New York Exchange, Arabica coffee for September 2024 delivery hovered around 248.75 cents/lb. The December 2024 contract stood at 246.80 cents/lb.

Coffee prices today remain stable with no new changes. Last week, both the London and New York markets saw strong increases with Robusta and Arabica futures for September rising by $ 416/ton and 19.8 cents/lb, respectively.

Coffee exports from the African region increased significantly by 44.8% in May and 10.9% over the first 8 months of the 2023/24 season, reaching 9.3 million bags. Coast Ivory, Ethiopia, and Uganda were key drivers of growth in the region in May, with export volumes increasing by 119.4%, 97.1%, and 22.1%, respectively.

Currently, Uganda is entering its main harvesting season, while Ethiopia's production is recovering after a decline in the previous season.

In Central America and Mexico, coffee exports increased slightly by 0.2% in May but decreased by 6.4% over the first 8 months of the 2023-2024 season, totalling 9.2 million bags.

During May, the region saw positive export growth in Guatemala (up 21%) and Mexico (up 25.2%), but declines in El Salvador (down 11.8%), Honduras (down 6.4%), and Nicaragua (down 24.6%).

Exports from Honduras continue to be hindered by cyclical agricultural production declines every two years, while Nicaragua is still overcoming the consequences of the bankruptcy of the Mercon Coffee Group, a coffee business that owns CISA Exportadora, responsible for over half of Nicaragua's coffee exports.

In Mexico, the majority of the export growth in May came from soluble coffee, with a 61.7% increase, amounting to 0.13 million bags.

Thus, world coffee prices on 07/15/2024 remained stable compared to the previous day.

Coffee prices on July 15 domestically

In the domestic market, coffee prices remained unchanged compared to yesterday.

Specifically, in Lam Dong province, the districts of Di Linh, Bao Loc, and Lam Ha were trading at VND 127,900/kg.

In Dak Lak province, Cu M'gar district was purchasing coffee at VND 128,500/kg. Meanwhile, Ea H'leo and Buon Ho districts were trading at VND 128,400/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'Lap were trading at VND 128,600/kg and VND 128,500/kg, respectively.

In Gia Lai province, the Chu Prong district traded at VND 128,500/kg, while the Pleiku and La Grai districts maintained prices at VND 128,400/kg.

In Kon Tum province, the purchase price today was VND 128,400/kg.

Domestic coffee prices today remain stable with the highest range at VND 128,600/kg. Last week, this agricultural product continued its upward trend with a significant increase of VND 5,000.

Thus, on 07/15/2024, domestic coffee prices are trading around the range of VND 127,900 - 128,600/kg.

$ 1 = VND 25.207 - Source: Vietcombank.