Coffee prices are forecast to fall on September 17, 2024 in the domestic market. Coffee prices have increased and are at a high level, but many unsatisfactory predictions about next season's output have prevented farmers from rushing to sell. According to experts, if coffee prices do not fall sharply, farmers will continue to maintain their current strategy. For the first time in history, Vietnam's coffee export price has exceeded 5,000 USD/ton. Vietnam's coffee inventory in September decreased, and supplies have almost run out.
The new coffee harvest will begin in October, peaking in November and December. Coffee production in the 2024-2025 crop year is expected to decline by about 10% compared to the previous crop year, estimated at around 1.5 million tonnes.
Domestic coffee prices were updated at 4:30 a.m. on September 16, 2024 as follows: Today's domestic coffee market is in the range of 123,500 - 124,000. Currently, the average purchase price in the Central Highlands provinces is 123,600 VND/kg, the highest purchase price in Dak Nong and Dak Lak provinces is 124,000 VND/kg.
Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 123,900 VND, remaining unchanged compared to yesterday, in Pleiku and La Grai the price is 123,800 VND/kg. In Kon Tum province, the price is 123,900 VND/kg, stable compared to yesterday; In Dak Nong province, the coffee purchase price is 124,000 VND/kg, stagnant compared to yesterday.
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| Coffee price forecast September 17: Vietnam's coffee price increase has not kept up with the world 's growth rate |
The price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at 123,500 VND/kg, unchanged compared to yesterday.
Coffee prices today (September 16) in Dak Lak province; in Cu M'gar district, coffee is purchased at about 124,000 VND/kg with no fluctuations, and in Ea H'leo district, Buon Ho town, it is purchased at 123,900 VND/kg.
Updated world coffee prices at 9:00 p.m. on September 16, 2024, Vietnam time on the London exchange, the price of Robusta coffee futures contract for September 2024 delivery on the London exchange was at 5,384 USD/ton, up 117 USD compared to the beginning of the trading session.
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| Coffee price today September 16, 2024: Robusta coffee price on London floor. (Photo: Screenshot giacaphe.com |
The November 2024 delivery term is 5,125 USD/ton, up 127 USD; the January 2025 delivery term is 4,890 USD/ton, up 100 USD and the March 2025 delivery term is 4,719 USD/ton, up 61 USD.
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| Coffee price today 9/16/24: New York Arabica coffee price (Photo: Screenshot giacaphe.com |
In particular, the price of Arabica coffee on the New York floor today at 9:00 p.m. on September 16, 2024 increased in all terms, fluctuating at 256.95 - 265.90 cents/lb.
Specifically, the December 2024 delivery period is 265.90 cents/lb; up 6.45 cents/lb compared to the beginning of the session. The March 2025 delivery period is 263.10 cents/lb, up 6.50 cents/lb; the May 2025 delivery period is 260.75 cents/lb, up 6.80 cents/lb and the July 2025 delivery period is 256.95 cents/lb, up 6 cents/lb.
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| Coffee price today September 16, 2024: Brazilian Arabica coffee price. (Photo: Screenshot giacaphe.com) |
The price of Brazilian Arabica coffee today at 9:00 p.m. on September 16, 2024 increased. Specifically, the delivery period for September 2024 is 316.95 USD/ton, up 4.38%; the delivery period for December 2024 is 313.50 USD/ton, up 2.05%; the delivery period for March 2025 is 318.00 USD/ton, up 2.32% and the delivery period for May 2025 is 311.70 USD/ton, up 4.13%.
Robusta coffee traded on the ICE Futures Europe (London exchange) opens at 16:00 and closes at 00:30 (next day), Vietnam time.
Arabica coffee on the ICE Futures US floor (New York floor) opens at 16:15 and closes at 01:30 (next day), Vietnam time.
*Information is for reference only, prices may vary depending on region and locality.
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