Coffee prices fell sharply as both exchanges intensified liquidation sales.

Specifically, in Di Linh, Lam Ha, and Bao Loc districts ( Lam Dong province ), the price of coffee today is being purchased at 119,500 VND/kg.

In Cu M'gar district ( Dak Lak ), the price of coffee today is 120,000 VND/kg. In Ea H'leo district (Dak Lak) and Buon Ho (Dak Lak), the price of coffee today is the same at 119,900 VND/kg.

Similarly, in Dak Nong province, today's coffee prices are being purchased at 120,000 VND/kg in Gia Nghia and 119,900 VND/kg in Dak R'lap.

In Gia Lai province, today's coffee price is 120,000 VND/kg (Chu Prong), while in Pleiku and La Grai it is 119,900 VND/kg.

Meanwhile, the price of coffee today in Kon Tum province is being purchased at 120,000 VND/kg.

Over the past week, the price of Robusta coffee for November delivery fell by $217 per ton. The price of Arabica coffee for December delivery also decreased by 8.7 cents per pound. On the domestic market, coffee prices fell by an average of 4,000 VND per kilogram.

Despite the US Federal Reserve (Fed) cutting interest rates for the first time in four years, coffee prices on both exchanges fell sharply. Experts believe this price drop was anticipated and did not come as a surprise to the market.

In Lam Dong and Dak Lak provinces, coffee cherries have begun to ripen. Although a slight decrease in yield is expected due to the early-year drought, current coffee prices still guarantee higher incomes for growers. Production is projected to increase from October onwards, and exports could reach $6 billion.

At the close of the most recent trading session, Robusta coffee prices in London for November 2024 delivery fell by $189/ton to $5,059/ton, and for January 2025 delivery fell by $186/ton to $4,803/ton.

Arabica coffee prices for December 2024 delivery fell by 10.90 cents/lb to 250.75 cents/lb, and for March 2025 delivery fell by 11.05 cents/lb to 248.65 cents/lb.

Source: https://baodaknong.vn/gia-ca-phe-hom-nay-22-9-2024-gia-ca-phe-giam-manh-do-2-san-day-manh-ban-thanh-ly-229895.html