Update coffee prices on September 23, 2020 – Coffee prices today
The price of coffee beans on September 23 fluctuated between 31,500 and 32,200 VND, complicated developments of the Covid-19 epidemic and the negative influence from the world financial market made coffee prices continue to plunge.
Domestic coffee prices on September 23
As noted, the price of coffee beans in key regions of the Central Highlands today continued to decline, on average 100-200 VND / kg.
In Di Linh district (Lam Dong), today’s coffee price was purchased at 31,500 VND / kg. In Bao Loc district (Lam Dong), Lam Ha (Lam Dong), the price of coffee was at 31,600 VND / kg.
In Cu M’gar district (Dak Lak), the coffee price today is 32,200 VND / kg. In Ea H’leo district (Dak Lak), Buon Ho (Dak Lak), the coffee price today was purchased at 32,100 VND / kg.
Similarly in Dak Nong province, the price of coffee purchased today was at 32,000 VND / kg (Gia Nghia), 31,900 VND / kg (Dak R’lap).
In Gia Lai province, today’s coffee price is 31,900 VND / kg (Chu Prong), in Pleiku and La Grai the same price is 32,000 VND / kg.
Today, coffee prices in Kon Tum province are purchased at VND 31,700 / kg.
World coffee prices on September 23, 2020
Ending the session this morning, the price of Robusta coffee in London decreased 6 USD / ton (0.45%) delivered in November 2020, traded at 1,341 USD / ton, delivered in January 2021 decreased 5 USD at 1,357 .
Meanwhile, on the New York floor in the US, Arabica coffee prices delivered in December 2020 decreased for the seventh consecutive session, specifically down 1.35 cents / lb (1.21%), trading at 110.65 cents / lb, delivery in March 2021 decreased 1.4 cents / lb (1.23%) to 112.45 cents / lb
According to experts, the two floors continued to decline after Brazil completed the harvest with an expected output of more than 68.1 million bags, and reported exports in the first 8 months of the year totaled 26.4 million bags of coffee. The export performance has been relatively high for the past 5 years.
Meanwhile, global consumption of goods has slowed because of the second Covid-19 pandemic, according to Safras & Mercado, where Brazilian farmers have sold 60% of the new crop so far (about 41 million). sack), is being delivered to commercial warehouses. Export goods are full of ports due to the lack of space for ships, along with increased freight rates and a sharp drop in transport capacity due to epidemics.
Meanwhile, members of the Vietnam Coffee Growers Forum stated that commodity markets in general still remain negative as US stocks continue to weaken due to concerns about risks from the increase in infections. Covid-19 around the world, while negotiations on a new stimulus package are still at a standstill in the US Congress.
Coffee prices continue to plummet according to the negative of banking stocks because investment loans will become more difficult and more limited temporarily. However, coffee futures markets have shown signs of a reversal when both exchanges started going into the “oversold” zone.
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