Specifically, in Di Linh, Lam Ha, Bao Loc districts (Lam Dong), today's coffee price is purchased at 117,800 VND/kg.
In Cu M'gar district (Dak Lak), the coffee price today is at 118,500 VND/kg. In Ea H'leo district (Dak Lak), Buon Ho district (Dak Lak), the coffee price today is purchased at the same level of 118,400 VND/kg.
Similarly in Dak Nong province, today's coffee purchase price is at 118,900 VND/kg in Gia Nghia and 118,800 VND/kg in Dak R'lap.
In Gia Lai province, coffee price today is at 118,500 VND/kg (Chu Prong), in Pleiku and La Grai the price is 118,400 VND/kg.
Today's coffee price in Kon Tum province is purchased at 118,500 VND/kg.
The domestic coffee market has dropped sharply compared to the same time yesterday. The average price nationwide is 118,600 VND/kg.
Coffee prices fell sharply due to new export figures released by the International Coffee Organization (ICO). In July 2024, global coffee exports increased by 12.2% to 11.29 million bags. Total coffee exports in the 10 months of the 2023/2024 crop year were 115.01 million bags, up 10.5%.
The Colombian Coffee Federation reported a 20.29% increase in August production compared to the previous year, reaching 177,000 bags. In the first 11 months of the 2023/2024 crop year, Colombia's coffee production is expected to increase by 19.66%, totaling 11.678 million bags.
Buyers and sellers are waiting for Vietnam’s new coffee harvest, which will run from October 2024 to September 2025. Coffee supplies are not expected to improve until the new harvest begins later this year.
At the end of the most recent trading session, the price of Robusta coffee in London for September 2024 delivery decreased by 141 USD/ton, at 4,770 USD/ton, and for November 2024 delivery decreased by 129 USD/ton, at 4,555 USD/ton.
Arabica coffee price for September 2024 delivery decreased by 8.20 cents/lb, at 236.00 cents/lb, and for December 2024 delivery decreased by 8.10 cents/lb, at 234.55 cents/lb.
Global climate change has reduced the world's coffee supply. Coffee prices are expected to rise in the third quarter due to tight supplies and speculative hoarding.
Drought and high temperatures affect Vietnam’s coffee production and quality. Tense weather conditions in the Central Highlands, where drought has severely damaged coffee plantations and water shortages have occurred.
Source: https://baodaknong.vn/gia-ca-phe-hom-nay-8-9-2024-giam-manh-2-000-dong-228649.html
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