Coffee price today April 27, 2024, increased sharply to 134,000 VND/kg, supply crisis, speculation?

Domestic coffee prices

The domestic coffee market today increased sharply compared to the same time yesterday. Domestic coffee prices were updated at 5:00 a.m. on April 27, 2024 as follows, coffee prices increased by 2,000 VND/kg. The current average price is around 134,000 VND/kg in the Central Highlands provinces, the highest purchase price in Dak Nong province is 134,200 VND/kg.

Coffee price list today April 27, 2024

Market	Medium	Change
Dak Lak	134,000	+2,000
Lam Dong	133,500	+2,000
Gia Lai	133,800	+2,000
Kon Tum	133,800	+2,000
Dak Nong	134,200	+2,000

In detail, localities are purchasing coffee at prices ranging from 133,500 – 134,200 VND/kg.

Coffee prices in Dak Lak

Coffee price today (April 27) in Dak Lak province today increased by 2,000 VND/kg compared to the previous day; Cu M’gar district (Dak Lak) coffee price today is 134,000 VND/kg. In Ea H’leo district (Dak Lak), Buon Ho (Dak Lak), today’s coffee price is the same 133,900 VND/kg.

Coffee prices in Dak Lak were surveyed from the following regions: Buon Ma Thuot, Buon Ho, Cu M’gar, Ea H’leo, Krong Nang, Krong Pak, Krong Buk and Krong Ana.

Coffee prices in Dak Nong

Dak Nong coffee price today April 27, 2024, purchased at 134,200 VND/kg in Gia Nghia and 134,100 VND/kg in Dak R’lap.

The latest coffee prices in Dak Nong were surveyed from the following regions: Dak Mil, Dak Song, Krong No

Coffee prices in Lam Dong

Price of green coffee beans (green coffee, fresh green coffee) in Lam Dong province in districts such as Di Linh, Lam Ha, Bao Loc, coffee is purchased at a price of 133,500 VND/kg.

The latest coffee prices in Lam Dong were surveyed today from regions and cities: Bao Loc, Di Linh, Lam Ha, Da Lat and Duc Trong.

Gia Lai coffee prices

In Gia Lai province, today’s coffee price is 133,800 VND/kg (Chu Prong), in Pleiku and La Grai the same price is 133,700 VND/kg.

Kon Tum coffee prices

Coffee price today April 27 in Kon Tum province is purchased at 133,800 VND/kg.

In the Central Highlands, not only did some coffee areas die due to lack of irrigation water due to prolonged drought, but many coffee gardens also lost crops due to adverse weather. Coffee supply will be in serious crisis and will remain scarce for a long time.

Update world coffee prices

At the end of the trading session, the price of Robusta coffee on the London floor at 5:30 a.m. on April 27, 2024 dropped sharply, ranging from 3,861 – 4,168 USD/ton. Specifically, the delivery term in July 2024 is 4,168 USD/ton (down 136 USD/ton); Delivery term in September 2024 is 4,084 USD/ton (down 131 USD/ton); Delivery term in November 2024 is 3,985 USD/ton (down 118 USD/ton) and delivery term in January 2025 is 3,861 USD/ton (down 114 USD/ton).

Similarly, the price of Arabica coffee on the New York floor on the morning of April 27 decreased sharply. Specifically, the delivery term in July 2024 is 223.50 cents/lb (down 2.02%); September 2024 delivery period is 221.70 cents/lb (down 2.03%); December 2024 delivery period is 219.95 cents/lb (down 2.00%) and March 2025 delivery period is 219.35 cents/lb (down 1.90%).

Brazilian Arabica coffee prices on the morning of April 27, 2024 fluctuated strongly. Specifically, the delivery term in May 2024 is 282.90 USD/ton (up 1.67%); July 2024 delivery period is 286.25 USD/ton (up 1.02%); Delivery period in September 2024 is 269.80 USD/ton (down 2.02%) and delivery period in December 2024 is 266.20 USD/ton (down 1.84%).

The winter months are approaching in the Southern Hemisphere, traditionally the focus of market speculation will shift to the largest producer and exporter, Brazil, which is currently forecasting cool weather. cooler, less rain coming to large coffee growing areas.

Coffee prices increased to a record due to the supply crisis and questions about coffee speculation from Vietnam.

Currently, coffee prices have increased too quickly and reached an unprecedented high in history, but the amount of traded goods is very small due to scarce supply.

This year’s agricultural product price fever is different from other years. If last year, prices of goods during the main season decreased, but now they do not. The reason is that starting from the 2022 – 2023 crop year, Vietnam’s coffee inventory is at its lowest level ever. The shortage continues to this day and occurs in many other coffee producing countries, causing prices to increase rapidly and with no end in sight.

Mr. Phan Minh Thong, Chairman of Phuc Sinh Group, said that the increase in coffee prices makes businesses unable to keep up, because signed contracts force businesses and foreign companies to still buy for delivery. Currently, for 1 ton of coffee, businesses have to suffer a loss of tens of millions of dong, while the number of contracts to deliver hundreds to thousands of tons.

According to Mr. Thong, the cause comes from hoarding goods. Large speculators withhold supply, causing most traders to be unable to return goods to businesses, leading to a “domino” effect that causes export businesses to be unable to pay signed orders, leading to losses, or having to pay deposits. .

This year, coffee prices continued to skyrocket, people also held back pepper with the expectation that the price would increase as strongly as coffee, causing supply to stay low. Agents and some businesses are also hoarding goods, waiting for pepper prices to increase before selling, making the market even more scarce.