Coffee prices are forecast to continue to decline in the domestic market on September 18, 2024. According to the General Department of Customs, in August 2024, Vietnam exported 76,214 tons of coffee, down 5.5% over the same period in 2023. In the first 8 months of the year, exports were less than 1.1 million tons, down more than 12% over the same period in 2023.
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| Coffee price forecast September 18: Coffee prices increase before harvest due to shortage? |
Domestic coffee prices were updated at 4:30 a.m. on September 17, 2024 as follows: The domestic coffee market today decreased slightly by 100 - 200 VND/kg, ranging from 123,500 - 123,800. Currently, the average purchase price in the Central Highlands provinces is 123,800 VND/kg, the highest purchase price in Dak Nong , Dak Lak, Gia Lai, Kon Tum provinces is 123,800 VND/kg.
Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 123,800 VND, down 100 VND/kg compared to yesterday, in Pleiku and La Grai the price is 123,700 VND/kg. In Kon Tum province, the price is 123,800 VND/kg, down 100 VND/kg compared to yesterday; In Dak Nong province, coffee is purchased at 123,800 VND/kg, down 200 VND/kg compared to yesterday.
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 17) in Dak Lak province; in Cu M'gar district, coffee is purchased at about 123,800 VND/kg, down 200 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at 123,700 VND/kg.
Updated world coffee prices at 9:00 p.m. on September 17, 2024, Vietnam time on the London exchange, the price of Robusta coffee futures contract for September 2024 delivery on the London exchange was at 5,319 USD/ton, up 73 USD compared to the beginning of the trading session.
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| Coffee price today September 17, 2024: Robusta coffee price on London floor. (Photo: Screenshot giacaphe.com |
The November 2024 delivery term is 5,064 USD/ton, up 87 USD; the January 2025 delivery term is 4,850 USD/ton, up 93 USD and the March 2025 delivery term is 4,701 USD/ton, up 8,361 USD.
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| Coffee price today 9/17/24: 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 17, 2024 increased in all terms, fluctuating at 257.10 - 265.70 cents/lb.
Specifically, the December 2024 delivery period is 265.70 cents/lb; up 7.15 cents/lb compared to the beginning of the session. The March 2025 delivery period is 263.05 cents/lb, up 6.95 cents/lb; the May 2025 delivery period is 260.40 cents/lb, up 6.75 cents/lb and the July 2025 delivery period is 257.10 cents/lb, up 6.60 cents/lb.
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| Coffee price today September 17, 2024: Brazilian Arabica coffee price. (Photo: Screenshot giacaphe.com) |
The price of Brazilian Arabica coffee today at 9:00 p.m. on September 17, 2024 increased and decreased in opposite directions. Specifically, the delivery period for September 2024 is 312.00 USD/ton, down 1.56%; the delivery period for December 2024 is 313.00 USD/ton, up 2.19%; the delivery period for March 2025 is 314.30 USD/ton, up 1.85% and the delivery period for May 2025 is 311.30 USD/ton, down 0.13%.
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.
According to the Vietnam Commodity Exchange (MXV), after two consecutive weeks of decline, the prices of both Arabica and Robusta coffees have had a historic week of price increases, notably the main export coffee of Vietnam, Robusta.
Specifically, in the trading week from September 9 to September 15, the price of Arabica coffee increased by nearly 10%, exceeding 5,719 USD/ton and was the highest price in more than two and a half years.
Similarly, Robusta coffee prices set a historical peak when approaching 5,300 USD/ton, soaring more than 10.4% compared to the trading price last week. Robusta is the main type of coffee produced and exported by Vietnam (accounting for more than 94% of the area and output).
MXV said that weather concerns and supply shortages were the main reasons supporting prices last week. In Vietnam's main coffee-producing regions, drought has ended but there is still a possibility that the 2024 harvest will be 15-20% lower than last year.
*Information is for reference only, prices may vary depending on region and locality.
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