Update coffee prices on 09/09/2020 – Coffee prices today
Coffee prices today 9/9, in the domestic market, today coffee prices continue to decline deeply following the decline of world coffee prices; is now below VND 33,000 / kg in some localities in the Central Highlands.
Domestic coffee prices
Opening the session on 09/09, coffee prices in the Central Highlands today continued to decrease further from 200-300 VND / kg; Currently being purchased in the range of 32,900 -33,300 VND / kg. Thus, this is the 2nd consecutive session this week, the price of green coffee in key areas of the Central Highlands has gone down.
Specifically, in Dak Lak (including Cu M’gar, Ea H’leo, Buon Ho, Ea H’leo¬) the coffee price today decreased by 200 VND / kg; Currently being purchased in the price range from 33,200 – 33,300 VND / kg. Up to the present time, it is recognized as the locality with the best coffee prices in the Central Highlands.
Coffee prices today in Lam Dong (Di Linh, Bao Loc, Lam Ha) decreased from 200-300 VND / kg, currently being traded at 32,900-30,000 VND / kg. This is the locality with the lowest coffee prices in the region this morning.
Coffee prices today in Gia Lai (Chu Prong, Pleiku, and Ia Grai) are currently being traded at 33,100-33,200 VND / kg.
Coffee prices in this morning session in Dak Nong (Dak R’lap, Gia Nghia) are also being purchased in the range of 33,100-33,200 VND / kg.
In Kon Tum (Dak Ha) coffee prices are currently at 33,100 VND / kg in this morning session.
The price of coffee in the world market
Opening the session this morning on 9/9, world coffee prices continued to fall deeply on both exchanges. Specifically, the price of robusta coffee on the London floor for September delivery decreased 16 USD / ton (a decrease of 1 , 05%), currently trading at 1,501 USD / ton.
Meanwhile, the price of arabica coffee delivered in September 2020 on the New York floor decreased 2 cents / lb (a decrease of 1.48%), currently being traded at 132.8 cents / lb compared to the session in yesterday.
Thus, this is the second consecutive trading session witnessed the decline in coffee prices on both exchanges after a day in New York market for the US Labor holiday. According to members of the Vietnam Coffee Maker Forum, the price of Robusta coffee in London decreased not only because of the lack of traders due to its own operation, but also because there were signs of slackening momentum, when there were reports that Indonesia’s coffee exports in the first 11 months of the 2019/2020 crop increased 17.71% over the same period, and reported that inventory at the floor started to increase after a “rare” long chain of declines.
According to observers, coffee markets still have support as demand for home consumption is higher during the pandemic season. In particular, when the inverse price structure is still maintained and certified inventory reports on both exchanges are at a record low.