Coffee prices on 09/23/2024: Hovering at VND 120,000/kg

Coffee prices on September 23 globally

On the global market, both the London and New York exchanges remained stable on September 23.

Robusta prices on the London exchange for November 2024 delivery stayed at $ 5,059/ton, while January 2025 contracts held at $ 4,803/ton.

Arabica prices on the New York exchange for December 2024 delivery traded at 250.75 cents/lb, and March 2025 contracts remained at 248.65 cents/lb.

The global coffee prices showed no new fluctuations today. Last week, both the London and New York exchanges experienced sharp declines following the Federal Reserve’s decision to cut interest rates for the first time in four years.

Experts explained that this market movement had been anticipated, with no surprises, as information about the Fed's interest rate cut had been prepared for a month in advance. Speculators and funds had been buying and stockpiling weeks earlier due to market excitement.

Moreover, forecasts of rain in Brazil over the weekend prompted stronger liquidation on both exchanges, further pulling down coffee prices. According to sources, rain is expected in Brazil's coffee-growing regions next week, at a critical time for coffee flowering, an essential period for Brazil’s coffee crops.

In addition, the sharp increase in gold prices has attracted capital away from other markets, and coffee has also been affected.

Thus, global coffee prices remained steady on 09/23/2024, with no changes compared to yesterday.

Coffee prices on September 23 domestically

In the domestic market, coffee prices remained unchanged today, September 23, compared to yesterday.

Specifically, in Lam Dong province, the districts of Di Linh, Bao Loc, and Lam Ha all trade at VND 119,500/kg.

In Dak Lak province, Cu M’gar district is purchasing at VND 120,000/kg, while Ea H’leo and Buon Ho districts are trading at VND 119,900/kg.

In Dak Nong province, traders in Gia Nghia and Dak R’lap are trading at VND 120,000/kg.

In Gia Lai province, Chu Prong district is trading at VND 120,000/kg, while Pleiku and La Grai are maintaining a price of VND 119,900/kg.

In Kon Tum province, today’s purchasing price is VND 120,000/kg.

Domestic coffee prices today remained stable, with the highest price at VND 120,000/kg. Over the past week, this agricultural commodity has seen a sharp drop of VND 6,000.

Regarding reports that Robusta export prices have at times exceeded Arabica export prices, Mr. Do Ha Nam, Vice Chairman of VICOFA, commented that this is highly unusual.

Globally, Arabica is more widely consumed, while Robusta is typically blended into Arabica. Therefore, historically, Arabica prices have always been significantly higher, often twice as high as Robusta.

However, this year, Vietnam's Robusta prices have surpassed Arabica prices, even exceeding Indonesia’s Robusta prices (previously, Indonesia’s Robusta was the most expensive in the world). Despite these high prices, Vietnam is facing a shortage of Robusta to sell...

Thus, domestic coffee prices on 09/23/2024, are trading around VND 119,500 - 120,000/kg.

$ 1 = VND 24.410 - Source: Vietcombank.