End of downtrend, bounce back

Coffee price forecast on November 6, 2024, online coffee price, Central Highlands coffee price, Lam Dong coffee, Kon Tum coffee, green coffee, Arabica coffee price on November 6.

Experts predict that coffee prices will end their decline and rebound on November 6, 2024. The depreciation of the USD ahead of the US presidential election will help coffee recover.

At the beginning of the week, experts predicted that many factors would significantly impact coffee prices, including the US presidential election and the Fed's announcement of an interest rate adjustment. In fact, the USD has depreciated ahead of the US presidential election as investors await the election results and the US Federal Reserve's policy meeting this week, helping coffee recover. These events are expected to have far-reaching impacts on the global economy .

Coffee price forecast for November 6, 2024: Ending the downtrend, bouncing back

Recorded in the trading session on November 5, 2024, today's coffee price decreased by 500 VND/kg, ranging from 105,500-106,000 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 105,500 VND/kg, the highest purchase price in Dak Nong and Dak Lak provinces is 106,000 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 105,900 VND, down 500 VND/kg compared to yesterday, in Pleiku and La Grai the same price is 105,800 VND/kg; In Kon Tum province, the price is 105,900 VND/kg, down 500 VND/kg compared to yesterday; In Dak Nong province, coffee is purchased at the highest price of 106,000 VND/kg, down 500 VND/kg compared to yesterday.

The price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at 105,500 VND/kg, down 500 VND/kg compared to yesterday.

Domestic coffee prices (November 5) in Dak Lak province; in Cu M'gar district, coffee was purchased at about 106,000 VND/kg, down 500 VND/kg compared to yesterday, and in Ea H'leo district, Buon Ho town, it was purchased at the same price of 105,900 VND/kg.

Updated world coffee prices at 20:00 on November 5, 2024, Vietnam time on the London exchange, the price of Robusta coffee futures contract for delivery in January 2025 on the London exchange was at 4,344 USD/ton, up 26 USD compared to the beginning of the trading session.

Coffee price today November 5, 2024: Robusta coffee price on London floor. (Photo: Screenshot giacaphe.com

The March 2025 delivery term is 4,270 USD/ton, up 21 USD; the May 2025 delivery term is 4,219 USD/ton, up 22 USD and the May 2025 delivery term is 4,160 USD/ton, up 35 USD.

Arabica coffee prices on the New York floor on November 5, 2024. (Photo: Screenshot of giacaphe.com)

In particular, the price of Arabica coffee on the New York floor at 20:00 on November 5, 2024 increased in all terms, fluctuating at 243.10 - 247.45 cents/lb.

Specifically, the December 2024 delivery period is 247.45 cents/lb; up 1.50 cents/lb compared to the beginning of the session. The March 2025 delivery period is 246.45 cents/lb, up 1.50 cents/lb; the May 2025 delivery period is 245.20 cents/lb, up 1.40 cents/lb and the July 2025 delivery period is 243.10 cents/lb, up 1.40 cents/lb.

Brazilian Arabica coffee price on November 5, 2024. (Photo: Screenshot of giacaphe.com)

The price of Brazilian Arabica coffee today at 9:00 p.m. on November 5, 2024 increased. Specifically, the delivery period for December 2024 is 302.70 USD/ton, up 1.20%; the delivery period for March 2025 is 301.00 USD/ton, up 1.01%; the delivery period for May 2025 is 298.30 USD/ton, up 1.10% and the delivery period for July 2025 is 295.40 USD/ton, up 1.13%.

Robusta coffee traded on the ICE Futures Europe (London exchange) opens at 16:00 and closes at 00:30 (next day), Vietnam time.

Arabica coffee on the ICE Futures US floor (New York floor) opens at 16:15 and closes at 01:30 (next day), Vietnam time.

According to the assessment of the Vietnam Coffee - Cocoa Association, the 2024 - 2025 coffee crop has begun to harvest, the country's output is expected to be about 1.47 million tons, a sharp decrease compared to the previous crop due to unfavorable weather, but the price will be much better than previous years.

Experts predict that Vietnamese coffee prices in the 2024-2025 crop year will continue to remain high due to reduced output, while inventories in the 2023-2024 crop year are not much left.

Information for reference only. Prices may vary by location.

Source: https://congthuong.vn/du-bao-gia-ca-phe-ngay-6112024-cham-dut-da-giam-bat-tang-tro-lai-356992.html