Coffee prices today 04/12/20: Increased slightly, farmers anxiously harvested the new crop

Coffee prices today 04/12/20: Robusta coffee in London turned up slightly. Meanwhile, Arabica coffee continued to go up in the previous session.

Coffee prices today 04/12/20 in Vietnam

In Di Linh district, Lam Ha, Bao Loc (Lam Dong), the price of coffee today is purchased at 31,600 VND / kg.

In Cu M’gar district (Dak Lak), the price of coffee today is 32,100 VND / kg. In Ea H’leo district (Dak Lak), Buon Ho (Dak Lak), today coffee prices are purchased at the same level of 32,200 VND / kg.

Similarly in Dak Nong province, coffee prices today purchased at 32,000 VND / kg in Gia Nghia and Dak R’lap).

Coffee prices today 04/12/20: In Gia Lai province, today’s coffee price is 32,000 VND / kg (Chu Prong), in Pleiku and La Grai the same price is 32,100 VND / kg. Today, coffee prices in Kon Tum province are purchased at 31,900 VND / kg. Thus, the price of coffee in the country today increased by 100-200 VND / kg. Yesterday, coffee prices in key growing areas decreased by an average of 700 – 800 VND / kg.

Meanwhile, at the end of this morning session (Vietnam time), the price of Robusta coffee in London for January delivery increased by 3 USD / ton, trading at 1,346 USD / ton, for delivery in March 2021 by 7. USD at 1,371 USD / ton. Meanwhile, on the exchange of New York in the US, the price of Arabica coffee delivered in December 2020 increased 0.8 cent / lb (0.68%) at 117.65 cents / lb, delivered in March 2021 increased 0, 95 cents / lb (0.8%) to 120.05 cents / lb.

After the deepest drop in more than 3 months, Robusta coffee in London turned up slightly. Meanwhile, Arabica coffee continued to go up in the previous session. Commenting on the deepest drop of Robusta coffee, experts said, the reason was due to the pressure of new sales. When Vietnamese farmers began to mass harvest, along with the move “selling paper to buy real goods” of international traders.

Coffee production in Vietnam this year is estimated at 30.2 million bags (1 bag = 60 kg) according to the forecast released by mid-2020 by the US Department of Agriculture. However, some growers and exporters think that number may be a bit too much because the area of ​​coffee that has been converted to other crops such as pepper, passion fruit, durian, avocado, and banana has not been fully evaluated. … because investment in coffee in previous years is not as beneficial as other agricultural crops.

Continuous storms from the beginning of the crop year from October 1 not only slow down the harvest but also affects the export trade. Estimated in the first 2 months of the crop year, Vietnam’s coffee exports only reached 180,000 tons, of which the statistics of the General Department of Customs reported in October reached 90,000 tons. November exports should have been generally higher, but wet weather greatly restricted the market for this year’s beans.

In Gia Lai province, the Department of Agriculture and Rural Development said that the whole province has more than 97,000 hectares of coffee; in which, the area in the business phase is about 83,148 ha, the rest is in the stage of basic construction and replanting. The coffee area is concentrated mainly in districts such as Ia Grai, Chu Prong, Chu Pah, Dak Doa, Chu Se, Mang Yang. Although only about 40% of the area has been harvested, the majority of people believe that this year’s coffee productivity has decreased sharply compared to the previous crop.

Coffee yields decreased, labor costs increased while selling prices remained unchanged, making growers unprofitable, even losing capital.

Arabica coffee prices traded in New York