Coffee prices on 08/26/2024: Approaching the VND 120,000/kg mark

Coffee prices on August 26 globally

On the global market, both London and New York exchanges showed no new changes today, August 26.

On the London market, Robusta for September 2024 delivery remained at $ 5,128/ton, while the November 2024 contract stayed at $ 4,715/ton.

On the New York market, Arabica for December 2024 delivery held steady at 247.30 cents/lb, and the March 2025 contract remained at 244.80 cents/lb.

Global coffee prices today show no new changes. Over the past week, both New York and London exchanges continued to rise sharply, with December Arabica increasing by 3.2 cents/lb and September Robusta surging by $ 463/ton.

Brazil is currently ramping up Robusta coffee exports to partially compensate for the supply gap left by Vietnam.

According to data from the Vietnam Customs Department, by the end of July, Vietnam's coffee exports to the global market had decreased by 12.4% compared to the same period last year, totalling just 979,353 tons.

Meanwhile, Cecafé reports that from January to July, Brazil's coffee exports reached a record high of over 28.1 million bags, up 46.3% from the same period last year. Of this, Robusta exports amounted to 5.2 million bags, which is four times (313.7%) higher than the same period in 2023 and accounts for 18.4% of the total.

Márcio Ferreira, President of Cecafé, stated that Brazilian Robusta continues to be the focus this year, filling the gaps left by major competitors like Vietnam and Indonesia. It is also favoured due to the abundant 2023 harvest and the volume already harvested this year. As a result, Brazilian Robusta is even being imported by Vietnam and Indonesia.

According to Brazil's National Supply Company (Conab), the average yield of Robusta fields in Brazil has increased by about 50% over the past 10 years, reaching 44.2 bags (60 kg)/ha. In contrast, Arabica yield has only increased by 24% over the same period to 26.7 bags/ha.

Thus, global coffee prices on 08/26/2024, remain stable compared to yesterday.

Coffee prices on August 26 domestically

In the domestic market, coffee prices today remain stable compared to yesterday.

Specifically, in Lam Dong Province, the three districts of Di Linh, Bao Loc, and Lam Ha are trading at VND 119,000/kg.

In Dak Lak, the Cư M'gar district is buying at VND 119,800/kg, while Ea H'leo and Buon Ho districts are trading at VND 119,700/kg.

In Dak Nong Province, traders in Gia Nghia and Dak R'lap are buying at VND 119,800 and VND 119,700/kg, respectively.

In Gia Lai Province, Chư Prông district is trading at VND 119,800/kg, while Pleiku and La Grai districts are maintaining a price of VND 119,700/kg.

In Kon Tum, the buying price today is VND 119,800/kg.

Domestic coffee prices today show no new changes and are approaching the VND 120,000/kg mark. Over the past week, the domestic coffee market has risen sharply by VND 1,700.

Thus, on 08/26/2024, domestic coffee prices are trading around VND 119,000 - 119,800/kg.

$ 1 = VND 24.700 - Sources: Vietcombank.

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