Coffee prices on 09/06/2024: The upward trend continues

Coffee prices on September 6 globally

In the global market, both the London and New York exchanges continue their upward trend on September 6.

Specifically, Robusta prices on the London exchange for November 2024 delivery slightly decreased by $ 1, settling at $ 4,911/ton, while January 2025 delivery increased by $ 9, reaching $ 4,684/ton.

On the New York exchange, Arabica prices for December 2024 delivery rose by 0.5 cents, reaching 244.20 cents/lb, and March 2025 delivery edged up by 0.65 cents, standing at 242.65 cents/lb.

Global coffee prices continue to rise, though at a slower pace compared to yesterday. The weakening USD remains a key factor supporting the increase in both exchanges.

As of the latest survey, the DXY index, which measures the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), has dropped to 101.06.

The USD fell during a volatile trading session as investors await the U.S. non-farm payroll report, which will be released today, September 6. This report could influence the Federal Reserve's future interest rate cut trajectory.

The Brazilian Coffee Exporters Association (Cecafé) will release its export data for August next week. The third official estimate for Brazil's 2024/25 crop from the government agency Conab will be announced on September 19.

In Honduras, coffee exports from the leading Central American producer decreased by 19.4%, down to 321,303 bags in August.

This brings the total export volume for the first 11 months of the 2023/24 coffee season to 4.53 million bags, a decrease of 11.7% compared to the same period in 2022/23.

Thus, global coffee prices on 09/06/2024, have slightly increased compared to yesterday.

Coffee prices on September 6 domestically

In the domestic market, coffee prices today, September 6, increased by VND 1,200 compared to yesterday.

Specifically, in Lam Dong province, the three districts of Di Linh, Bao Loc, and Lam Ha are trading at VND 119,400/kg.

In Dak Lak, Cu M'gar district is purchasing at VND 120,200/kg today, while Ea H'leo and Buon Ho districts are trading at VND 120,100/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are transacting at VND 120,500 and VND 120,400/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 120,200/kg, while Pleiku and La Grai are holding steady at VND 120,100/kg.

In Kon Tum, today's purchase price is VND 120,200/kg.

Domestic coffee prices today continued to rise sharply, pushing this agricultural product easily past the threshold of VND 120,000/kg.

Thus, on 09/06/2024, domestic coffee prices are trading around VND 119,400 - 120,500/kg.

$ 1 = VND 24.420 - Source: Vietcombank.