(VAN) Coffee prices on 09/13/2024 increased globally. Domestic prices have risen by VND 800, trading within the range of VND 121,600 – 122,100/kg.
Latest domestic and global coffee prices on 09/13/2024
Coffee prices on September 13 globally
On the global market, both the London and New York exchanges experienced increases on September 13.
In London, Robusta prices for November 2024 delivery rose by $ 69 (1.38%), reaching $ 5,077/ton. The January 2025 contract also increased by $ 47 (0.99%), standing at $ 4,816/ton.
On the New York exchange, Arabica prices for December 2024 delivery surged by 2.75 cents (1.11%), reaching 249.40 cents/lb. The March 2025 contract also rose by 2.55 cents (1.04%), hitting 247 cents/lb.
Arabica and Robusta coffee prices on 09/13/2024
Today, coffee prices on the global market have rebounded at the New York exchange due to support from a weakening USD. Meanwhile, Robusta prices on the London exchange continue to rise, maintaining above the $ 5,000/ton mark.
As of the survey time, the DXY index, which measures fluctuations in the US dollar against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), has decreased to 101.23.
The USD has fallen while the EUR has risen after the European Central Bank (ECB) cut interest rates and ECB President Christine Lagarde emphasized that the bank will let economic data dictate the next policy move.
Investors anticipate that the Fed will announce its first interest rate cut, expected to be revealed after its meeting next week.
Steve Wateridge, Director of Research at the Tropical Research Service of the market information company Expana, assesses that weather patterns in Brazil play a central role in coffee procurement prices.
He stated that the increase or decrease in the price of this commodity largely depends on the potential of the coffee crop for the upcoming 2025/26 season in Brazil. When the rains return, coffee trees begin to flower, allowing farmers to better predict the potential of the harvest.
Good weather means prices will start to decrease. On the other hand, poor weather, for the fifth consecutive year, means that prices will not be able to drop. In fact, a poor harvest in Brazil will likely drive prices even higher.
Thus, global coffee prices on 09/13/2024, have increased significantly compared to yesterday.
Coffee prices on September 13 domestically
In the domestic market, coffee prices today have risen by VND 600 – 800 compared to yesterday.
Specifically, in Lam Dong province, the districts of Di Linh, Bao Loc, and Lam Ha are trading at VND 121,600/kg.
In Dak Lak, Cu M’gar district is buying at VND 122,100/kg, while Ea H’leo and Buon Ho districts are trading at VND 122,000/kg.
In Dak Nong province, traders in Gia Nghia and Dak R’lap are trading at VND 122,100 and VND 120,000/kg, respectively.
In Gia Lai province, Chu Prong district is trading at VND 121,900/kg, while Pleiku and La Grai districts are holding steady at VND 121,800/kg.
In Kon Tum, the buying price today is VND 121,800/kg.
Domestic coffee prices continue to rise today, pushing the commodity above VND 122,000/kg.
Thus, on 09/13/2024, domestic coffee prices are trading around VND 121,600 – 122,100/kg.
$ 1 = VND 24.360 – Source: Vietcombank.
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