Update coffee prices on 10/09/2020 – Coffee prices today
Coffee prices today September 10, 2020 in the Central Highlands, raw coffee prices rebound. Cause coffee prices increased sharply due to the London trading floor increased slightly.
Domestic coffee prices on September 10
According to the price of agricultural products in the Central Highlands, the South, early this morning, September 10, 2020, the price of coffee beans in the key regions of the Central Highlands rebounded. The reason for the increase in domestic coffee prices was due to the slight increase in Robusta coffee prices on the London exchange.
It is forecasted that the price of raw coffee, the price of fresh coffee in the country today, will increase by 100 VND / kg. This is a small increase compared to the recent continuous decline. Specifically, domestic coffee prices recorded as follows.
In Di Linh district (Lam Dong), today’s coffee price increased by 100 VND / kg, bringing the coffee price here back to 33,000 VND / kg.
In Bao Loc district (Lam Dong), Lam Ha (Lam Dong), coffee prices both increased by 100 VND / kg at 33,100 VND / kg.
In Cu M’gar district (Dak Lak), the coffee price today also increased by 100 VND / kg at 33,400 VND / kg. Meanwhile in Ea H’leo district (Dak Lak), Buon Ho (Dak Lak) the coffee price today was purchased at 33,300 VND / kg, down 200 VND / kg.
In Dak Nong province, the price of coffee purchased today was at 33,300 VND / kg (Gia Nghia), 33,200 VND / kg (Dak R’lap) increased by 100 VND / kg compared to yesterday.
In Gia Lai province, today’s coffee price is 33,300 VND / kg (Chu Prong), in Pleiku and La Grai the same price is 33,200 VND / kg.
Today, coffee prices in Kon Tum province are purchased at 33,200 VND / kg.
Coffee prices on the world market on September 10
Opening the session this morning, the price of Robusta coffee in London increased by $ 5 / ton (up 0.35%), delivered in September 2020, traded at $ 1416 / ton, delivered in January 2021 increased at $ 1,428. Meanwhile in the New York floor in the US, Arabica coffee prices delivered in December 2020 decreased by 3.25 cents / lb (down 2.46%), trading at 128.85 cents / lb.
Coffee consumption market in the third quarter
The World market
According to members of the Vietnam Coffee Maker Forum, the price of Robusta coffee in London fell not only because of the lack of traders due to its own operation, but also due to signs of slackening momentum, when there was a report that Indonesia coffee exports in the first 11 months of the 2019/2020 crop increased 17.71% over the same period, and reported inventory at the floor began to increase after a “rare” 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.
As of the end of August, inventories of arabica coffee on New York floor were 80.2 thousand tons, the lowest level since over 42 weeks.
Inventory of London floor robusta standard is 109.4 thousand tons, the lowest level since 21 weeks. This is likely to increase sales in the next month of the third quarter of 2020.
The Import and Export Department (Ministry of Industry and Trade) said that according to the estimate, coffee exports in August 2020 reached 110 thousand tons, worth $ 197 million, down 0.03% in volume, but up 0.2% in Value compared with July 2020, compared to August 2019, down 3.6% in volume and 0.02% in value. Generally for the first 8 months of 2020, coffee exports were estimated at 1.16 million tons, worth $ 1.98 billion, and down 1.3% in both volume and value over the same period in 2019.
In August 2020, the average export price of coffee was estimated at 1,791 USD / ton, an increase of 0.2% compared to July 2020 and an increase of 3.7% compared to August 2019. In the first 8 months of 2020, the average export price of coffee was estimated at 1,708 USD / ton, down 0.02% over the same period in 2019.
According to calculations from the statistics of the General Department of Customs, in July 2020 and the first 7 months of 2020, exports of Robusta coffee and Excelsa coffee decreased, while exports of Arabica coffee increased sharply.
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