Coffee prices today 03/30/2024: No new fluctuations

Coffee prices on March 30 in the world

In the world, the London and New York exchange prices on March 30 remained stable due to being temporarily closed for the holiday.

In particular, Robusta's price on the London exchange for delivery in May 2024 is anchored at $ 3,479/ton. The July 2024 delivery term price remains at $ 3,396/ton.

On the New York exchange, Arabica's price for delivery in May 2024 maintained around 188.85 cents/lb. And the July 2024 delivery date is 188.05 cents/lb.

According to The Hindu newspaper, Robusta farmers in Southern India are happy when the price of this commodity reaches a record high after harvest. 

Raw Robusta (fruit form) farm prices hit a record of 172 rupees/kg on March 23, much higher than 115 rupees/kg in the same period last year. Meanwhile, the spot price of green Robusta stood at 315 rupees/kg, up from 210 rupees/kg in the same period in 2023. 

If compared to 2 years ago, the current price is twice as high. The price of fruit and kernels of this agricultural product in March 2022 was 80 rupees/kg and 145 rupees/kg, respectively. 

Sources said that although the harvest is almost completed, there is a huge shortage of supply to the market this year, thereby contributing to the increase in prices. 

Many people predict that India's Robusta output will decrease by 30% this year due to erratic climate changes, causing the low number of flowers blooming in Robusta growing areas last year.

Thus, world coffee prices on 03/30/2024 have no new fluctuations compared to yesterday.

Coffee prices on March 30 in the country

The domestic market on March 30 simultaneously moved sideways compared to yesterday. 

Specifically, in Lam Dong province, 3 districts of Di Linh, Bao Loc and Lam Ha are trading at the same level of VND 98,200/kg. 

In Dak Lak, Cu M'gar district today is purchasing at VND 98,600/kg. Ea H'leo and Buon Ho districts are trading at a price of VND 98,500/kg.

In Dak Nong province, traders Gia Nghia and Dak R'lap are trading at VND 98,600 and VND 98,600/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 98,500/kg, while Pleiku and La Grai are maintaining the same price at VND 98,400/kg.

The purchasing price in Kon Tum today is VND 98,400/kg.

Domestic coffee prices today have no new fluctuations with the highest threshold reaching VND 98,600/kg.

Coffee processing businesses in the Central Highlands region are in the most difficult period in many years, as the price of raw materials for this agricultural product continues to set new peaks, far surpassing the increase in processed products.

This situation causes businesses to lose profits, even incur losses, and have to narrow their production scale. However, the majority of businesses in the Central Highlands are still optimistic, believing that the new price is fair and will build a foundation for harmonious and sustainable development in the coming period. 

Towards the end of the 2023/24 production season, the price of this agricultural product continuously sets new records. Most coffee growers took advantage of the price to "land" at VND 90 million/ton, successfully ending a high-priced, bumper production season. 

On the contrary, since the price of kernels exceeded VND 80 million/ton, most processing enterprises in the Central Highlands have had to reduce production scale or stop accepting orders and wait for the market price to stabilize. But nearly 3 months have passed, and businesses continue to have to wait because the price of this agricultural product keeps increasing, reaching VND 93 and 95 million, and now it is approximately VND 100 million/ton.

Thus, the domestic coffee price on 03/30/2024 is trading around the threshold of VND 98,200 - 98,600/kg.