Update coffee prices on September 8, 2020-Coffee prices today plummeted
Coffee prices today 8/9, the domestic agricultural product market recorded the price of coffee beans in the Central Highlands today fell sharply by 300 VND / kg at world prices.
Domestic coffee prices
Recognizing the market at 6 o’clock this morning, September 8, coffee prices plummeted. Specifically, the price of coffee beans in the Central Highlands today fell sharply by 300 VND / kg according to the world coffee price.
Specifically, in Bao Loc, Lam Ha (Lam Dong), coffee prices today decreased by 300 VND / kg at 33,100 VND / kg, in Di Linh district lower coffee prices are currently purchased at 33,000 VND / kg.
Coffee prices in Cu M’gar district (Dak Lak) coffee prices also decreased by 300 VND to 33,700 VND / kg, coffee prices in Buon Ho 33,600 VND / kg, in Ea H’leo coffee prices this morning recorded. 33,500 VND / kg.
Also, the price of coffee in Pleiku and La Grai districts (Gia Lai) dropped to 33,400 VND / kg, Robusta coffee price in Chu Prong was lower than 100 VND / kg, currently at 33,300 VND / kg.
Coffee prices in Dak Nong today decreased by 300 VND, recorded at 33,300 – 33,400 VND / kg, of which the price of coffee purchased in Dak R’lap was 33,300 VND / kg, in Gia Nghia district coffee price was 33,400 VND / kg.
In Kon Tum, the recorded coffee price in Dac Ha district was 33,300 VND / kg.
World coffee prices
Opening the session this morning, London coffee prices fell sharply. Robusta coffee futures for immediate delivery in September fell 15 USD / ton, down to 1,517 USD / ton and futures delivered in January 2021 down to 1439 USD / ton.
Meanwhile, the New York market was flat. Arabica coffee price for spot delivery month was 134.8 cents / lb and for delivery in March 2021 134.55 cents / lb.
The International Coffee Organization (ICO) reported that global exports in July reached 10.61 million bags of coffee of all kinds, down nearly 11% from the same period last year. The reason for the decrease is the spread of disease, so the producing countries do not promote export, even though the prices have improved somewhat compared to the previous three months.
At the same time, the ICO adjusted its forecast for a global coffee shortage in the current coffee season to a surplus of 952,000 bags, due to an increase in Brazil’s crop output in 2019.
The Indonesian Trade Authority reported August coffee exports, mainly Robusta coffee, were only 285,068 bags, down 8.48% year-on-year. However, the cumulative export of coffee in the first 11 months of the current crop year 2019/2020 totaled 2,725,341 bags, an increase of 410,076 bags, or an increase of 17.71% over the same period of the previous crop year.