Coffee prices increase without stopping

Coffee prices are forecast to remain high in the domestic market on September 16, 2024. The Import-Export Department forecasts that coffee prices will remain high next month due to reduced supply and increased demand. Coffee output in the 2024/25 crop year in Vietnam is expected to decline sharply, to a 13-year low.

Meanwhile, the mainstream coffee consumer market in the Northern Hemisphere is slowly returning from the summer holidays, which will help spur some physical coffee trading activity in the coming months ahead of winter roasting in Europe and the United States.

Coffee price forecast 9/16: Coffee prices increase without stopping

Domestic coffee prices were updated at 4:30 a.m. on September 15, 2024 as follows: Today's domestic coffee market increased by 2,000 VND/kg, ranging from 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, an increase of 2,000 VND/kg 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, an increase of 2,000 VND/kg compared to yesterday; In Dak Nong province, coffee is purchased at 124,000 VND/kg, an increase of 2,000 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, an increase of 2,000 VND/kg compared to yesterday.

Coffee prices today (September 15) in Dak Lak province; in Cu M'gar district, coffee is purchased at about 124,000 VND/kg, an increase of 2,000 VND/kg, 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 15, 2024, Vietnam time on the London exchange, the price of Robusta coffee futures contract for September 2024 delivery on the London exchange was at 5,267 USD/ton, up 190 USD compared to the beginning of the trading session.

Coffee price today September 15, 2024: Robusta coffee price on London floor. (Photo: Screenshot giacaphe.com

The November 2024 delivery term is 4,998 USD/ton, up 182 USD; the January 2025 delivery term is 4,790 USD/ton, up 180 USD and the March 2025 delivery term is 4,658 USD/ton, up 173 USD.

Coffee price today 9/15/24: 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 15, 2024 increased in all terms, fluctuating at 250.95 - 259.45 cents/lb.

Specifically, the December 2024 delivery period is 259.45 cents/lb; up 10.05 cents/lb compared to the beginning of the session. The March 2025 delivery period is 256.60 cents/lb, up 9.60 cents/lb; the May 2025 delivery period is 253.95 cents/lb, up 9.35 cents/lb and the July 2025 delivery period is 250.95 cents/lb, up 9.20 cents/lb.

Coffee price today September 15, 2024: Brazilian Arabica coffee price. (Photo: Screenshot giacaphe.com)

The price of Brazilian Arabica coffee today at 20:30 on September 15, 2024 increased and decreased in opposite directions. Specifically, the delivery period for September 2024 is 316.95 USD/ton, up 4.38%; the delivery period for December 2024 is 305.40 USD/ton, down 0.59%; the delivery period for March 2025 is 310.80 USD/ton, up 3.08% 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.

Mr. Le Duc Huy - General Director of Simexco DakLak - informed that currently, it is estimated that 100% of coffee output continues to decrease, and there is no more inventory to transfer from this year's crop to next year, so the amount of available goods supplied to the market continues to be limited. From now until the end of this crop, goods will be scarce. In the new crop, there will be a number of roasters who need to buy Robusta coffee, leading to continued market difficulties. "This year, in May, there was a shortage of goods, and next year, it is expected that the shortage will occur earlier, possibly from March," Mr. Le Duc Huy shared.

According to Mr. Le Duc Huy, Brazil is suffering from frost, which affects coffee production. At the same time, he said that it is difficult to make any comments on prices because the current market is not only in a picture of supply and demand, but also financial issues, war, and crisis. All are possible. However, if it is purely about supply and demand, prices may not be able to decrease and will remain high.

*Information is for reference only, prices may vary depending on region and locality.

Source: https://congthuong.vn/du-bao-gia-ca-phe-169-gia-ca-phe-tang-khong-biet-diem-dung-346077.html