Coffee prices on 08/27/2024: Increased to VND 120,000/kg

Coffee prices on August 27 globally

Globally, the London and New York exchanges continued their upward trend on August 27.

Specifically, Robusta prices on the London exchange for November 2024 delivery remained steady at $ 4,715/ton, while the January 2025 delivery stood at $ 4,513/ton.

Meanwhile, on the New York exchange, Arabica prices for December 2024 delivery increased by 2.35 cents, reaching 249.65 cents/lb, and the March 2025 delivery also rose by 2.35 cents, standing at 247.15 cents/lb.

Global coffee prices today remained steady for Robusta (as the London exchange paused trading) and saw a significant increase on the New York exchange, driven by expectations of an interest rate cut that is boosting Arabica prices.

According to experts, the high price levels of this agricultural commodity are due to multiple factors, including climate change, geopolitical fluctuations, and sanctions that have driven up transportation costs, leading to higher production costs and, consequently, higher coffee prices.

Additionally, the market is being influenced by speculators. On both the London and New York exchanges, investors are primarily channelling their funds into gold and coffee.

It is forecasted that Robusta prices will continue to rise sharply and persist for the foreseeable future, primarily due to a shortage of supply from producing countries, including Vietnam.

Thus, global coffee prices on 08/27/2024, continue the upward trend seen yesterday.

Coffee prices on August 27 domestically

In the domestic market, coffee prices today have slightly increased compared to yesterday.

Specifically, in Lam Dong province, the three districts of Di Linh, Bao Loc, and Lam Ha are all trading at VND 119,200/kg.

In Dak Lak, Cu M’gar district is currently buying coffee 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 respectively trade at VND 120,200/kg and VND 120,100/kg.

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

Meanwhile, the purchase price in Kon Tum today is VND 120,000/kg.

Domestic coffee prices today have increased slightly by VND 200 – 400, pushing this agricultural product above the VND 120,000/kg threshold.

Thus, on 08/27/2024, domestic coffee prices are trading around the range of VND 119,200 – 120,200/kg.

$ 1 = VND 24.630 – Source: Vietcombank.