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Thursday- 20:32, 19/09/2024

Coffee prices on 09/19/2024: Domestic prices rise slightly.

(VAN) Coffee prices on 09/19/2024, show mixed trends globally. Meanwhile, domestic prices increased slightly by VND 200, reaching VND 123,300 - 123,800/kg.
Latest coffee prices in Vietnam and globally on 09/19/2024

Latest coffee prices in Vietnam and globally on 09/19/2024

Coffee prices on September 19 globally

On the global market, the London and New York exchanges showed slight fluctuations on September 19.

Specifically, Robusta prices on the London exchange for November 2024 delivery rose by $ 31 (equivalent to 0.58%), reaching $ 5,334/ton. The January 2025 delivery also increased slightly by $ 30 (equivalent to 0.6%), settling at $ 5,070/ton.

Meanwhile, on the New York exchange, Arabica prices for December 2024 delivery dropped slightly by 0.1 cents (equivalent to 0.04%), to 264.40 cents/lb. The March 2025 contract reversed course, falling by 0.05 cents (equivalent to 0.02%), to 262.30 cents/lb.

Latest Arabica and Robusta prices on 09/19/2024

Latest Arabica and Robusta prices on 09/19/2024

Global coffee prices today experienced significant fluctuations following the U.S. Federal Reserve's decision to cut interest rates by 0.5%. However, in summary, Robusta prices only saw a slight increase, while Arabica weakened.

The supply outlook remains uncertain due to ongoing weather-related challenges. Brazil is facing its driest weather since 1981, according to the disaster monitoring center Cemaden. Additionally, Typhoon Yagi’s impact on northern Vietnam could affect some coffee-growing regions.

Global coffee exports in July increased by 12.2% compared to the same period last year, totalling 11.3 million bags (60 kg/bag). This contributed to a 10.5% rise in total global coffee exports for the first 10 months of the 2023-2024 season, reaching 115 million bags.

In August, Robusta and Arabica prices surged on trading floors, continuously hitting record highs in recent years due to unfavourable weather conditions in Brazil and Vietnam, impacting global supply.

Moreover, all three key market speculators (Non-commercial hedge funds, Fund management companies, and Index funds) increased their net long positions, driving prices up significantly.

Thus, global coffee prices on 09/19/2024 showed mixed movements compared to the previous day.

Coffee prices on September 19 domestically

In the domestic market, coffee prices today, September 19, increased by VND 100 - 200 compared to yesterday.

In Lam Dong province, three districts — Di Linh, Bao Loc, and Lam Ha — are trading at VND 123,300/kg.

In Dak Lak province, Cu M'gar district is purchasing at VND 123,700/kg today, while Ea H'leo and Buon Ho districts 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, Chu Prong district is trading at VND 123,700/kg, while Pleiku and La Grai both hold VND 123,600/kg.

Meanwhile, in Kon Tum province, today’s purchasing price is VND 123,700/kg.

Domestic coffee prices today continue to rise slightly, pushing the agricultural commodity closer to the VND 124,000/kg mark.

The domestic supply remains tight. According to several businesses, the supply shortage in the 2023/24 crop year began as early as May. As a result, inventory levels carried over to the new crop are nearly zero.

Data released by the General Department of Customs shows that Vietnam's coffee exports in August reached 76,214 tons, valued at $ 402.2 million, down 9.9% in volume but up 55.8% in value compared to the same period last year. Coffee export turnover after 8 months is nearly equal to the $ 4.2 billion achieved for the entire previous year.

Thus, domestic coffee prices on 09/19/2024, are trading around VND 123,300 - 123,800/kg.

$ 1 = VND 24.410 - Source: Vietcombank.

Author: Bang Nghiem

Translated by Hoang Duy

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