Coffee prices on 08/12/2024: Falling below VND 120,000/kg

Coffee prices on August 12 globally

The global coffee markets in London and New York remained unchanged on August 12.

On the London exchange, Robusta coffee for September 2024 delivery held steady at $ 4,326/ton, while the November 2024 contract remained at $ 4,162/ton.

Meanwhile, on the New York exchange, Arabica coffee for September 2024 delivery maintained around 234.05 cents/lb and the December 2024 contract stayed at 230.25 cents/lb.

Global coffee prices remained stable today. Summarizing the past week, both exchanges saw significant increases. Specifically, Robusta for September delivery surged by $ 99/ton, while Arabica for September delivery rose by 4 cents/lb.

Although coffee prices experienced deep declines in the last two sessions, the early-week gains still helped the market end the week on a positive note.

Thus, global coffee prices on 08/12/2024 remained flat compared to yesterday.

Coffee prices on August 12 domestically

In Vietnam, the domestic coffee market remained stable compared to yesterday.

Specifically, in Lam Dong province, the districts of Di Linh, Bao Loc, and Lam Ha are all trading at VND 118,600/kg.

In Dak Lak, Cu M’gar district is purchasing coffee at VND 119,300/kg, while Ea H’leo and Buon Ho districts are trading at VND 119,200/kg.

In Dak Nong province, traders in Gia Nghia and Dak R’lap are buying at VND 119,300/kg and VND 119,200/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 119,100/kg, while Pleiku and La Grai districts are both holding at VND 119,000/kg.

In Kon Tum province, the purchase price today is VND 119,100/kg.

Today, domestic coffee prices showed no new fluctuations, with the highest price reaching VND 119,300/kg. Over the past week, the domestic coffee market experienced a significant decline, losing up to VND 4,000.

According to experts, global economic conditions, particularly in the U.S., along with weather reports of frost in Brazil, have had both negative and positive effects on coffee purchase prices this week.

Currently, coffee prices are nearly 2.5 times higher than they were at this time last year. While this has brought optimism to farmers, businesses are concerned due to the scarcity of coffee supplies. It is forecasted that this situation will continue to impact exports of this billion-dollar commodity.

For the 2023/24 crop year, the coffee planting area is over 709,000 ha. The output has decreased by 20% compared to the previous crop year, down to 1.47 million tons. This is the lowest level in the past four years, significantly reducing the global coffee supply.

Thus, domestic coffee prices on 08/12/2024, are trading around VND 118,600 – 119,300/kg.

$ 1 = VND 24.910 – Source: Vietcombank.