Experts predict that coffee prices will end their downward trend and rebound on November 6, 2024. The depreciation of the US dollar ahead of the US presidential election is helping coffee prices recover.
At the beginning of the week, experts predicted several factors would significantly impact coffee prices, including developments in the US presidential election and the Federal Reserve's announcement of interest rate adjustments. In fact, the US dollar depreciated ahead of the US presidential election as investors awaited the election results and the Federal Reserve's policy meeting this week, helping coffee prices recover. These events are expected to have far-reaching impacts on the global economy .
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| Coffee price forecast for November 6, 2024: End of the decline, rebounding upwards. |
According to records from the trading session on November 5, 2024, today's coffee price decreased by 500 VND/kg, ranging from 105,500 to 106,000 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 105,500 VND/kg, with the highest purchase price in Dak Nong and Dak Lak provinces at 106,000 VND/kg.
Specifically, the purchase price of coffee in Gia Lai province (Chu Prong) is 105,900 VND, a decrease of 500 VND/kg compared to yesterday; in Pleiku and La Grai, the price is 105,800 VND/kg; in Kon Tum province, the price is 105,900 VND/kg, a decrease of 500 VND/kg compared to yesterday; in Dak Nong province, coffee is purchased at the highest price of 106,000 VND/kg, a decrease of 500 VND/kg compared to yesterday.
In Lam Dong province, in districts such as Bao Loc, Di Linh, and Lam Ha, the price of bulk green coffee beans (green coffee beans, fresh coffee beans) is being purchased at 105,500 VND/kg, a decrease of 500 VND/kg compared to yesterday.
Domestic coffee prices (November 5th) in Dak Lak province: In Cu M'gar district, coffee was purchased at approximately 106,000 VND/kg, a decrease of 500 VND/kg compared to yesterday; while in Ea H'leo district and Buon Ho town, it was purchased at the same rate of 105,900 VND/kg.
According to the latest update on world coffee prices at 8:00 PM on November 5, 2024 (Vietnam time) on the London exchange, the price of Robusta coffee futures contract for January 2025 delivery on the London exchange was 4,344 USD/ton, an increase of 26 USD compared to the beginning of the trading session.
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| Coffee prices today, November 5, 2024: Robusta coffee prices on the London exchange. (Image: Screenshot from giacaphe.com) |
The March 2025 delivery price was $4,270/ton, up $21; the May 2025 delivery price was $4,219/ton, up $22; and the May 2025 delivery price was $4,160/ton, up $35.
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| Arabica coffee prices on the New York exchange on November 5, 2024. (Image: Screenshot from giacaphe.com) |
Specifically, the price of Arabica coffee on the New York exchange at 8:00 PM on November 5, 2024, increased across all contract periods, fluctuating between 243.10 and 247.45 cents/lb.
Specifically, the December 2024 contract was 247.45 cents/lb, up 1.50 cents/lb from the start of the session. The March 2025 contract was 246.45 cents/lb, up 1.50 cents/lb; the May 2025 contract was 245.20 cents/lb, up 1.40 cents/lb; and the July 2025 contract was 243.10 cents/lb, up 1.40 cents/lb.
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| Brazilian Arabica coffee prices on November 5, 2024. (Image: Screenshot from giacaphe.com) |
Brazilian Arabica coffee prices increased today at 9:00 PM on November 5, 2024. Specifically, the December 2024 delivery contract was $302.70/ton, up 1.20%; the March 2025 contract was $301.00/ton, up 1.01%; the May 2025 contract was $298.30/ton, up 1.10%; and the July 2025 contract was $295.40/ton, up 1.13%.
Robusta coffee traded on the ICE Futures Europe exchange (London exchange) opens at 4:00 PM and closes at 12:30 AM (the next day), Vietnam time.
Arabica coffee on the ICE Futures US (New York exchange) opens at 4:15 PM and closes at 1:30 AM (the next day), Vietnam time.
According to the Vietnam Coffee and Cocoa Association, the 2024-2025 coffee crop has begun its harvest season, with a projected national output of approximately 1.47 million tons, a significant decrease compared to the previous season due to unfavorable weather conditions, but prices are expected to be much better than in previous years.
Experts predict that Vietnamese coffee prices will continue to remain high throughout the 2024-2025 crop year due to reduced production, while inventory from the 2023-2024 crop year is no longer abundant.
This information is for reference only. Prices may vary depending on the location.
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