Average price increased by 6,000 VND/kg

Specifically, in Di Linh, Lam Ha, Bao Loc districts ( Lam Dong ), today's coffee price is purchased at 123,500 VND/kg.

In Cu M'gar district ( Dak Lak ), today's coffee price is at 124,000 VND/kg. In Ea H'leo district ( Dak Lak ), Buon Ho district ( Dak Lak ), today's coffee price is purchased at the same level of 123,900 VND/kg.

Similarly in Dak Nong province, today's coffee purchase price is 124,000 VND/kg in Gia Nghia and 123,900 VND/kg in Dak R'lap.

In Gia Lai province, coffee price today is at 123,900 VND/kg (Chu Prong), in Pleiku and La Grai the price is 123,800 VND/kg.

Today's coffee price in Kon Tum province is purchased at 123,900 VND/kg.

A month ago, no one thought Robusta coffee prices would break $5,000 a tonne, but now it has. Dry weather in Brazil has reduced soil moisture, raising concerns about the health of coffee trees and the potential for next season’s harvest. Brazilian coffee producers have slowed sales after increasing sales last month, taking advantage of favorable prices.

According to a SAFRAS survey, as of September 10, producers had sold 54% of their 24/25 crop, up 14% from the previous month. Current sales levels are higher than the same period last year, when they were only 50%, and also higher than the five-year average from 2019 to 2023.

Coffee prices remain high and uncertainty about next season’s production has kept farmers from rushing to sell. Unless prices fall sharply, farmers will continue to maintain their current business strategies.

At the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery increased by 190 USD/ton, at 5,267 USD/ton, and for January 2025 delivery increased by 182 USD/ton, at 4,998 USD/ton.

Arabica coffee prices for December 2024 delivery increased by 10.05 cents/lb, to 259.45 cents/lb, and for March 2025 delivery increased by 9.60 cents/lb, to 256.60 cents/lb.

Last week, Robusta coffee prices for November delivery increased by $497 per ton. Arabica coffee prices for December delivery also increased by 23.45 cents per pound. In the domestic market, the average coffee price increased by about VND6,000 per kilogram.

Experts say coffee prices are remaining stable at high levels due to weather concerns and a decline in the US dollar index since July 2024.

Expectations of a rate cut by the US Federal Reserve (Fed) have weakened the value of the US dollar, thereby stimulating demand for commodities. The Fed is expected to announce its interest rate decision on September 19. Investors hope that the Fed will decide to cut interest rates at the upcoming meeting.

Source: https://baodaknong.vn/gia-ca-phe-hom-nay-16-9-2024-gia-binh-quan-tang-them-6-000-dong-kg-229315.html