(VAN) Coffee prices on 09/15/2024, are trading around VND 123,500 – 124,000/kg. This week, domestic coffee prices have surged by VND 6,000.
Latest domestic and global coffee prices on 09/15/2024
Coffee prices on September 15 globally
Globally, the two exchanges in London and New York on September 15 saw no new fluctuations.
Specifically, Robusta prices on the London exchange for November 2024 delivery remained at $ 5,267/ton. The January 2025 contract is holding steady at $ 4,998/ton.
Meanwhile, on the New York exchange, Arabica prices for December 2024 delivery are steady at 259.45 cents/lb, and the March 2025 contract is at 256.60 cents/lb.
Latest Arabica and Robusta prices on 09/15/2024
Global coffee prices remained stable today. Summarizing this week, Robusta prices for November delivery saw a sharp increase of $ 497/ton, while Arabica for December delivery rose significantly by 23.45 cents/lb.
Experts attribute the strong price increases to concerns about weather conditions leading to further production declines, as well as the continuous decline of the USD index since July 2024.
Brazil is currently facing the worst drought since 1981. Meteorological agency Somar Meteorologia reported that the Minas Gerais region, which accounts for about 30% of Brazil’s production, had no rain in the past week.
Expectations of a Fed interest rate cut have driven down the USD index and encouraged commodity purchases, with an announcement expected at the Fed’s September 19 meeting next week. Investors are placing high hopes on a rate cut during this meeting.
In Vietnam, coffee production for the 2024/25 season is expected to drop sharply to the lowest level in 13 years. Meanwhile, the market in the Northern Hemisphere is gradually recovering after the summer holidays, which will likely boost purchasing activities in the coming months ahead of the winter roasting season in Europe and the US.
Thus, global coffee prices on 09/15/2024 remained unchanged compared to yesterday.
Coffee prices on September 15 domestically
In the domestic market, coffee prices on September 15, 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 123,500/kg.
In Dak Lak, Cu M’gar district is buying at VND 124,000/kg today, while Ea H’leo and Buon Ho districts are trading at VND 123,900/kg.
In Dak Nong province, traders in Gia Nghia and Dak R’lap are buying at VND 124,000 and VND 123,900/kg, respectively.
In Gia Lai province, Chu Prong district is trading at VND 123,900/kg, while Pleiku and La Grai are both holding at VND 123,800/kg.
Meanwhile, Kon Tum is purchasing coffee today at VND 123,900/kg.
Domestic coffee prices today show no new fluctuations and have reached the threshold of VND 124,000/kg. Summarizing this week, the domestic coffee market saw a strong increase of up to VND 6,000.
Thus, on 09/15/2024, domestic coffee prices are trading around VND 123,500 – 124,000/kg.
$ 1 = VND 24.360 – Source: Vietcombank.
Agriculture News | Agri Products Price