The coffee market has been experiencing complex fluctuations in recent days, with both supporting and negative factors affecting prices. In that context, the forecast of coffee prices tomorrow, October 20, 2024, is attracting the attention of investors and farmers. Below is reference information about the market situation and forecast of coffee prices tomorrow, and at the same time, comments on price prospects in the coming time.
At the end of the trading session on October 19, 2024, Robusta coffee prices on the London floor increased sharply, with an increase from 17 USD/ton to 26 USD/ton. This shows that the demand for Robusta coffee is increasing in the international market, especially from the Chinese market and European countries. Arabica coffee prices on the New York floor also recorded a significant increase in the trading session on October 19, 2024, with an increase from 0.76% to 0.85%, reflecting the general optimism about the demand for Arabica coffee.
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| Coffee price forecast October 20, 2024: Increasing pressure from international markets and domestic weather concerns. |
However, Brazilian Arabica coffee prices recorded mixed increases and decreases, with December 2024 and March 2025 delivery terms decreasing, while May 2025 and July 2025 delivery terms increasing. This shows the differentiation in demand for Brazilian Arabica coffee, possibly due to weather factors or trade policies.
Meanwhile, the domestic coffee market has been moving in the opposite direction to the international market. On October 19, 2024, domestic coffee prices fell sharply, with an average decrease of VND 2,000/kg. The main reason is believed to be the impact of the weather. Information from the Gia Lai Department of Industry and Trade said that continuous rain is expected to come to the Central Highlands this weekend and into the new week, which could affect the progress of the new coffee crop. This is the time when the world's largest Robusta coffee producer begins harvesting the new coffee crop, which is calculated from October 2024 to September 2025. Traditionally, people expect the rain to stop around this time to facilitate the harvest.
In addition to weather factors, domestic coffee prices are also affected by policy. The Council of the European Union has announced an agreement to postpone the implementation date of the European Union Deforestation Regulation (EUDR). This could put pressure on coffee prices in the long term, as the EUDR will require coffee exporters to prove that their coffee has not been linked to deforestation.
Based on the above analysis, it can be predicted that Robusta coffee prices will continue to increase slightly tomorrow, October 20, 2024, due to high demand and the market's expectation of a delay in the implementation of the EUDR. Arabica coffee prices may also increase slightly, but the increase will be lower than that of Robusta. However, due to the impact of rain, domestic coffee prices may decrease slightly tomorrow, but the decrease will not be significant.
However, it should be noted that coffee price forecasts are for reference only and may change depending on market developments. Investors and farmers should closely monitor information on the coffee market to make appropriate investment decisions.
The coffee market will continue to face many challenges and opportunities in the coming time. Global coffee consumption is expected to continue to increase, due to the economic development of emerging countries and the increasing popularity of coffee consumption. However, the market also faces risks from climate change, epidemics and trade policies.
To ensure stability and sustainable development for the coffee market, coffee producing countries need to coordinate with each other to respond to challenges and maximize opportunities. Investors and farmers need to proactively update market information and develop appropriate business strategies.
*Information for reference only.
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