November 8, 2024 | 06:36 GMT +7
November 8, 2024 | 06:36 GMT +7
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Globally, the London and New York exchanges continued their upward trend on August 27.
Specifically, Robusta prices on the London exchange for November 2024 delivery remained steady at $ 4,715/ton, while the January 2025 delivery stood at $ 4,513/ton.
Meanwhile, on the New York exchange, Arabica prices for December 2024 delivery increased by 2.35 cents, reaching 249.65 cents/lb, and the March 2025 delivery also rose by 2.35 cents, standing at 247.15 cents/lb.
Global coffee prices today remained steady for Robusta (as the London exchange paused trading) and saw a significant increase on the New York exchange, driven by expectations of an interest rate cut that is boosting Arabica prices.
According to experts, the high price levels of this agricultural commodity are due to multiple factors, including climate change, geopolitical fluctuations, and sanctions that have driven up transportation costs, leading to higher production costs and, consequently, higher coffee prices.
Additionally, the market is being influenced by speculators. On both the London and New York exchanges, investors are primarily channelling their funds into gold and coffee.
It is forecasted that Robusta prices will continue to rise sharply and persist for the foreseeable future, primarily due to a shortage of supply from producing countries, including Vietnam.
Thus, global coffee prices on 08/27/2024, continue the upward trend seen yesterday.
In the domestic market, coffee prices today have slightly increased compared to yesterday.
Specifically, in Lam Dong province, the three districts of Di Linh, Bao Loc, and Lam Ha are all trading at VND 119,200/kg.
In Dak Lak, Cu M'gar district is currently buying coffee at VND 120,000/kg, while Ea H'leo and Buon Ho districts are trading at VND 119,900/kg.
In Dak Nong province, traders in Gia Nghia and Dak R’lap respectively trade at VND 120,200/kg and VND 120,100/kg.
In Gia Lai province, Chu Prong district is trading at VND 120,000/kg, while Pleiku and La Grai are both holding at VND 119,900/kg.
Meanwhile, the purchase price in Kon Tum today is VND 120,000/kg.
Domestic coffee prices today have increased slightly by VND 200 - 400, pushing this agricultural product above the VND 120,000/kg threshold.
Thus, on 08/27/2024, domestic coffee prices are trading around the range of VND 119,200 - 120,200/kg.
$ 1 = VND 24.630 - 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.