Coffee prices on 08/9/2024: The upward trend continues

Coffee prices on August 29 globally

Global coffee prices on August 29 Globally, both the London and New York exchanges continued their upward trend on August 29.

On the London exchange, Robusta prices for November 2024 delivery increased by $ 80, reaching $ 4,926/ton. The January 2025 contract also saw a strong increase of $ 69, reaching $ 4,717/ton.

Meanwhile, on the New York exchange, Arabica prices for December 2024 delivery rose by 1.2 cents, reaching 256.45 cents/lb. The March 2025 contract also increased by 0.85 cents, reaching 254 cents/lb.

Global coffee prices today continue to maintain a strong upward trend, pushing Arabica prices to their highest level in 13 years, while Robusta prices are nearing the $ 5,000/ton mark.

The news of excessive drought in Brazil, which may cause coffee plants to flower early and reduce yield for the upcoming crop, has fueled the sharp rise in coffee prices on both exchanges in recent days.

Coffee supply shortages in Vietnam have led the market to predict that prices will continue to rise until the harvest season begins in October and November. Economists are concerned that the onset of stockpiling for speculation could lead to unhealthy competition, undermining the industry's sustainability.

Thus, global coffee prices on 08/29/2024, have increased compared to yesterday.

Coffee prices on August 29 domestically

In the domestic market, coffee prices on August 29 continue to rise compared to yesterday.

Specifically, in Lam Dong province, the three districts of Di Linh, Bao Loc, and Lam Ha are trading at VND 121,200/kg.

In Dak Lak, Cu M'gar district is purchasing at VND 122,000/kg today. Meanwhile, Ea H'leo and Buon Ho districts are trading at VND 121,900/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are trading coffee at VND 122,100 and VND 122,000/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 121,900/kg, while Pleiku and La Grai are both holding steady at VND 121,800/kg.

Finally, the purchase price in Kon Tum today is VND 121,900/kg.

Domestic coffee prices today continue their upward trend with an increase of VND 400-500, pushing this agricultural product above the VND 122,000/kg mark.

Thus, on 08/29/2024, domestic coffee prices are trading around VND 121,200 - 122,100/kg.

$ 1 = VND 24.660 - Source: Vietcombank.