Domestic coffee prices
On September 30, coffee prices in key Central Highlands regions decreased slightly, bringing the average price of the whole region down to 115,900 VND/kg.
The decrease occurred evenly: Lam Dong decreased the most by VND 1,000/kg to VND 114,300/kg. Dak Lak and Gia Lai decreased by VND 500/kg, respectively VND 116,000/kg and VND 115,800/kg. Coffee prices in Dak Nong (Cu) decreased by 700 VND to 116,000 VND/kg.
Compared to 1 week ago, coffee prices have increased by a total of 4,000 VND/kg, showing a strong recovery from the bottom in mid-September.
Compared to 1 month ago (late August), from the peak of 122,000 VND/kg at the end of August, coffee prices have now decreased by 6,100 VND/kg. This net decline highlights that September's volatility is a major correction after the market reached its peak.
World coffee prices
World coffee prices all decreased slightly, confirming the trend of adjusting profit-taking at the end of the month.
Robusta price ( London): Slight decrease of 15 USD/ton, closing at 4,186 USD/ton.
Arabica price (New York City): Decreased more strongly, losing 5.85 US cents/lb, closing at 372.20 US cents/lb.
The decrease in prices on both exchanges, especially Arabica, has directly affected the domestic market, leading to a slight decrease.
Forecast and prediction of upcoming coffee prices
The coffee market is entering October with a healthy adjustment.
Today's price decrease is just a technical correction and a profit-taking at the end of the month after a series of hot increases. Basic factors supporting prices (low inventory, supply pressure from Brazil) remain unchanged.
Although the market closed in September at a level lower than the peak at the end of August, the recovery trend has been established. Upward factors remain strong, suggesting that the market is likely to continue its recovery and challenge higher resistance levels in October.
However, the volatility will still be very high. It is necessary to closely monitor weather developments in Brazil and information about supply from Vietnam when the new crop is about to begin.
