Coffee prices on 08/05/2024: Highest at VND 123,200/kg

Coffee prices on August 5 globally

Globally, the London and New York markets continued to remain stable on August 5.

Specifically, the price of Robusta on the London exchange for the September 2024 contract is holding at $ 4,227/ton, and the November 2024 contract is steady at $ 4,088/ton.

Meanwhile, on the New York exchange, the price of Arabica for the September 2024 contract is unchanged at 230.50 cents/lb, and the December 2024 contract remains at 229.55 cents/lb.

Today, global coffee prices showed no new movements. Last week, the market experienced mixed fluctuations. Specifically, Robusta for September delivery dropped by $ 75/ton, while Arabica for September delivery increased by 0.25 cents/lb.

Both the London and New York exchanges have been trending downward for the past three weeks, reaching their lowest levels in four weeks on August 1. The coffee harvest pressure from Brazil, along with the weakening of the Brazilian real, has driven down coffee prices. Currently, $ 1 is trading around 5.658 Brazilian reals, indicating a relatively weak real.

Indonesia's government trade data from Sumatra reported that Robusta exports from the island in June 2024 were 130,367 bags, down 51.89% compared to the same period last year.

The new coffee crop year starting in April 2024, with about 85% being Robusta and the remainder Arabica, is cautiously forecasted to potentially reach an average of 10.90 million bags.

The Cooxupe coffee cooperative has reported that Brazil's weather conditions could affect the 2025 crop if the dry weather continues. Large growing areas in southeastern Brazil have experienced drier weather and low rainfall, which is typical for the winter season which is drier and cooler. However, there are still a few months before the seasonal flowering.

Therefore, the Cooxupe report mentions the beginning of the spring rainy season, expected to occur in the last quarter of the year, which will be closely monitored as this period is essential for triggering the flowering process for the 2025 crop.

Thus, global coffee prices on 08/05/2024 remained unchanged from yesterday.

Coffee prices on August 5 domestically

In the domestic market, coffee prices today showed a slight increase compared to yesterday.

Specifically, in Lam Dong province, the three districts of Di Linh, Bao Loc, and Lam Ha are trading at the same level of VND 122,700/kg.

In Dak Lak province, Cu M'gar district is currently buying at VND 123,200/kg. Meanwhile, Ea H'leo and Buon Ho districts are trading at VND 123,100/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are trading at VND 123,200 and VND 123,100/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 123,100/kg, while Pleiku and La Grai both hold at VND 123,000/kg.

In Kon Tum province, the buying price today is VND 123,000/kg.

Domestic coffee prices today remain unchanged, with the highest level reaching VND 123,200/kg. Last week, the domestic coffee market slightly decreased by an additional VND 700.

Thus, on 08/05/2024, domestic coffee prices are trading around the range of VND 122,700 - 123,200/kg.

$ 1 = VND 24.930 - Source: Vietcombank.