Coffee prices on 09/11/2024: continue to maintain an upward trend

Coffee prices on September 11 globally

Globally, both the London and New York exchanges saw further increases on September 11.

Robusta prices on the London exchange for November 2024 delivery rose by an additional $ 6 (equivalent to 0.12%), reaching $ 4,897/ton. The January 2025 contract also edged up by $ 5 (equivalent to 0.11%), to $ 4,681/ton.

On the New York exchange, Arabica prices for December 2024 delivery increased by 1.8 cents (equivalent to 0.73%), reaching 247.20 cents/lb. The March 2025 contract also saw a slight rise of 1.35 cents (equivalent to 0.55%), reaching 244.80 cents/lb.

Global coffee prices today continue to rise but at a slower pace compared to yesterday.

Unfavourable weather conditions worldwide are causing concerns about future coffee production.

On September 9, Somar Meteorologia reported that the Minas Gerais region of Brazil did not receive any rainfall over the past week. This drought situation in the country is expected to significantly impact global coffee production.

Additionally, the impact of Typhoon Yagi—the strongest storm ever to form in the South China Sea—hitting northern Vietnam further exemplifies global climate change instability.

Last week, the International Coffee Organization (ICO) reported a 10.5% increase in global coffee exports from October 2023 to July 2024 compared to the previous period. However, this information did not lower coffee prices, indicating that concerns about supply remain quite persistent.

Thus, global coffee prices on 09/11/2024 increased slightly compared to the previous day.

Coffee prices on September 11 domestically

Domestically, coffee prices today are still rising compared to yesterday.

In Lam Dong province, the districts of Di Linh, Bao Loc, and Lam Ha are trading at VND 119,700/kg.

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

In Dak Nong province, traders in Gia Nghia and Dak R'lap are buying at VND 120,300/kg and VND 120,200/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 120,300/kg, with Pleiku and La Grai holding steady at VND 120,200/kg.

Lastly, in Kon Tum, coffee prices are at VND 120,300/kg.

Domestic coffee prices today rose an additional VND 700, allowing the commodity to easily reach the high level of VND 120,000/kg.

Thus, domestic coffee prices on 09/11/2024, are trading in the range of VND 119,700 - 120,300/kg.

$ 1 = VND 24.355 - Source: Vietcombank.