Coffee prices on 09/18/2024: Reversed and recovered

Coffee prices on September 18 globally

Globally, both the London and New York exchanges saw significant increases on September 18.

Specifically, Robusta prices on the London exchange for November 2024 delivery rose by $ 57 (equivalent to 1.09%), reaching $ 5,303/ton. The January 2025 contract also saw a strong increase of $ 63 (1.27%), reaching $ 5,040/ton.

On the New York exchange, Arabica prices for December 2024 delivery surged by 5.95 cents (2.30%) to 264.50 cents/lb. The March 2025 contract also saw a sharp rise of 6.25 cents (2.44%) to 262.35 cents/lb.

Global coffee prices saw a strong rebound on the day the position closed.

The market experienced significant fluctuations, rising and then falling, as investors generally maintained a cautious outlook, awaiting the Fed's policy meeting.

Thus, global coffee prices on 09/18/2024 reversed and saw a significant increase compared to the previous day.

Coffee prices on September 18 domestically

In the domestic market, coffee prices increased slightly today compared to yesterday. Specifically, in Lam Dong province, the districts of Di Linh, Bao Loc, and Lam Ha are trading at VND 123,300/kg.

In Dak Lak, the district of Cu M'gar is purchasing coffee at VND 123,700/kg, while Ea H'leo and Buon Ho are trading at VND 123,600/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are trading at VND 123,800/kg.

In Gia Lai province, the district of Chu Prong is trading at VND 123,700/kg, while Pleiku and La Grai are both at VND 123,600/kg.

In Kon Tum, the purchasing price is VND 123,700/kg.

Today, domestic coffee prices increased slightly by VND 200-400, bringing the price closer to the VND 124,000/kg mark.

In the first 8 months of the year, the European Union (EU) continued to be the largest customer of Vietnamese coffee. This market accounted for 39% by volume and 38% of the total export value of our coffee, with a volume of 412,179 tons, valued at over $ 1.53 billion. This represents a 9.4% decrease in volume but a 43.9% increase in value compared to the same period in 2023.

Among the EU countries, coffee exports to Germany decreased by 10.9%, and Italy by 13%, while Spain and the Netherlands saw significant increases of 17% and 13.5%, respectively.

Outside the EU, exports to other major markets such as Japan, the US, and Russia also declined compared to the same period in 2023 due to limited supply.

This decrease has been offset by increases in potential markets in Asia: Indonesia up 46%, the Philippines up 63.5%, China up 30.4%, Thailand up 63.6%, and Malaysia up 64%.

Thus, domestic coffee prices on 09/18/2024, are trading around VND 123,300 - 123,800/kg.

$ 1 = VND 24.470 - Source: Vietcombank.