Update coffee prices on September 16, 2020 – coffee prices today

Coffee prices today increased slightly on September 16, surpassing VND 33,000 / kg. Meanwhile, Arabica coffee prices in the New York market had consecutive sessions of declining prices.

Domestic and world coffee prices on September 16

Prices of coffee beans in the Central Highlands

As noted, the price of coffee beans in key regions of the Central Highlands today fluctuates in the range of 32,600 – 33,100 VND / kg.

In Di Linh district (Lam Dong), today’s coffee price was purchased at 32,600 VND / kg. In Bao Loc district (Lam Dong), Lam Ha (Lam Dong) the price of coffee was at 33,700 VND / kg, an increase of 100-200 VND / kg compared to yesterday.

Meanwhile, in Cu M’gar district (Dak Lak), the coffee price today was at 33,000 VND / kg. In Ea H’leo district (Dak Lak), Buon Ho (Dak Lak), the coffee price today was purchased at 33,100 VND / kg. This is still the locality with the highest price.

In Dak Nong province, the price of coffee purchased today was at 32,900 VND / kg (Gia Nghia), 32,900 VND / kg (Dak R’lap).

In Gia Lai province, today’s coffee price on September 16 is at 32,900 VND / kg (Chu Prong), in Pleiku and La Grai the same price is 33,000 VND / kg.

Today, coffee prices in Kon Tum province are purchased at 32,800 VND / kg.

World coffee prices

Ending the session this morning, the price of Robusta coffee in London increased by 4 USD / ton (0.29%) for delivery in November 2020, traded at 1,391 USD / ton, for delivery in January 2021 increased by 4 USD at 1,405 . Meanwhile in the New York floor in the US, Arabica coffee prices delivered in December 2020 decreased for the second consecutive session, with a specific decrease of 1.25 cents / lb (1.02%), trading at 121.8 cents /. lb, for delivery in March 2021, decreased by 1 cent / lb (0.8%) to 123.3 cents / lb.

Market Comments

Commenting on the sharp decline of the market yesterday, experts said, the rain forecast in most of the arid coffee growing areas in Brazil has prompted investors to promote further selling. 3,852 lots of Arabica to 33,092 lots in the week to September 8, 2020. Last week, Brazilian farmers feared that prolonged dry weather would affect the main flowering period, causing coffee output in the next 2021 crop to decline.

With a large Brazilian supply and a high global oversupply, the fall in coffee prices is only a matter of time. However, one broker warned that coffee prices could recover if the coming rainfall is not large enough to provide soil moisture.

Meanwhile, according to the members of the Vietnam Coffee Maker Forum, the Reais (Brazil) rose 1.12%, to $ 1 = 5,2760 Reais, the highest level since August 1, due to optimism about the testing of coronavirus vaccine and the positive mood of foreign investors when USDX dropped again.

Coffee futures prices fell sharply due to concerns of investors about the volatility of the new monetary policy, pushing gold prices and other safe-haven assets to rebound. This is also an opportunity for short-term speculators to liquidate their positions and take profits because the net buying volume on both futures is already very high.

Source: http://kinhtedothi.vn/gia-ca-phe-hom-nay-169-bat-tang-tro-lai-nguyen-nhan-khien-ca-phe-arabica-new-york-lao-doc-396254.html

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