(VAN) Domestic and global coffee prices remain stable on 06/24/2024. Currently, domestic coffee prices are trading around VND 120,500 – 121,700/kg.
The latest global and domestic coffee prices update on 06/24/2024
Coffee prices on June 24 globally
Globally, the London and New York exchanges both remained stable on June 24.
Specifically, the price of Robusta on the London exchange for July 2024 delivery is steady at $ 4,299/ton. The price for the September 2024 delivery is holding at $ 4,104/ton.
On the New York exchange, the price of Arabica for September 2024 delivery remains at 225 cents/lb. The price for the November 2024 delivery is 223.25 cents/lb.
Latest Arabica and Robusta prices on 06/24/2024
Today, there are no new fluctuations in global coffee prices. Over the past week, coffee prices have shown mixed movements, with the price of Robusta for September delivery increasing by $ 95, while the price of Arabica for September delivery decreased by 0.6 cents.
Global coffee supply has been affected by heavy rains in Brazil and heatwaves in Vietnam. International experts assess that the situation is unlikely to improve soon. The ongoing weather issues in major coffee-producing countries are continuing to drive prices higher.
A report from the International Coffee Organization (ICO) shows that global coffee exports in April reached 12 million bags, up 16.8% compared to the same period last year. Overall, in the first seven months of the 2023/24 crop year (October 2023 to April 2024), exports reached nearly 81 million bags, an increase of 11.1% (equivalent to 8.1 million bags) compared to the same period in the previous crop year.
In May 2024, both Robusta and Arabica prices decreased compared to the end of April 2024 due to forecasted increases in production in Brazil.
Drought and pest issues have severely impacted productivity in many areas. Coffee production in Vietnam for the 2023/24 crop year is estimated to decrease by 20% compared to the previous crop year, down to 1.47 million tons, the lowest in four years, thereby putting pressure on the global supply of Robusta.
Thus, global coffee prices on 06/24/2024, remain stable compared to yesterday.
Coffee prices on June 24 domestically
Domestically, the coffee market today, June 24, shows no new changes compared to yesterday.
Specifically, in Lam Dong province, the three districts of Di Linh, Bao Loc, and Lam Ha are all trading at VND 120.500/kg.
In Dak Lak province, Cu M’gar district is purchasing at VND 121.500/kg today. Meanwhile, Ea H’leo and Buon Ho districts are trading at VND 121.400/kg.
In Dak Nong province, traders in Gia Nghia and Dak R’lap are trading at VND 121.700 and VND 121.600/kg, respectively.
In Gia Lai province, Chu Prong district is trading at VND 121.500/kg, while Pleiku and La Grai are both holding at VND 121.400/kg.
In Kon Tum province, the purchase price today is VND 121.500/kg.
Today, domestic coffee prices continue to remain stable, with the highest price reaching VND 121,700/kg. Over the past week, the domestic coffee market has seen a strong increase ranging from VND 1,200 to 1,500/kg.
Thus, on 06/24/2024, domestic coffee prices are trading around VND 120,500 – 121,700/kg.
$ 1 = VND 25.225 – Source: Vietcombank
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