Coffee prices today November 2: All down

World coffee prices

Early morning of November 2 (Vietnam time), on the London floor, the price of Robusta coffee for November 2024 delivery decreased by 85 USD/ton, at 4,284 USD/ton, while the January 2025 delivery decreased by 67 USD/ton, reaching 4,214 USD/ton.

Similarly, on the New York floor, the price of Arabica coffee for delivery in December 2024 decreased by 3.60 cents/lb to 242.30 cents/lb; the price for delivery in March 2025 also decreased by 3.65 cents/lb to 241.85 cents/lb.

The main reason is due to forecast of increased coffee production in Brazil and pressure from new coffee harvest in Vietnam.

According to the Brazilian Institute of Geography and Statistics (IBGE), in the 2024-2025 crop year, Brazil, the world's largest coffee producer, is estimated to reach 3.6 million tons of coffee, up 4.8% over the previous crop year thanks to increased planting area and productivity.

Coffee prices today, November 2, fell across the board. (Illustration photo).

Brazil's Arabica output is forecast to reach 2.5 million tonnes, up 6.5%, while Robusta coffee will reach 1.06 million tonnes.

Favorable weather in Brazil and gradually increasing coffee supplies from Vietnam put pressure on global coffee prices.

In the first two months of the new crop year, Brazil exported 451,000 tons of coffee with a turnover of nearly 1.9 billion USD, up 39% over the same period last year.

Robusta coffee exports alone increased by 53%, increasing supply and pressure on prices on the world market.

Domestic coffee prices

On November 2, domestic coffee prices continued to fall sharply. According to giacaphe.com , domestic coffee prices today fell sharply by 1,500 VND/kg, ranging from 107,300-107,700 VND/kg.

In key areas such as Lam Dong, Dak Lak, Gia Lai and Kon Tum , coffee prices ranged from 107,300 to 107,700 VND/kg, down 1,500 VND/kg compared to yesterday.

Specifically, the price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province was purchased at 107,300 VND/kg, down 1,500 VND/kg compared to yesterday.

In Dak Lak province, coffee was purchased at about 107,700 VND/kg, down 1,500 VND/kg.

In Kon Tum province, coffee price is at 107,600 VND/kg, also down 1,500 VND/kg.

In Dak Nong province, coffee was purchased at the highest price of 107,700 VND/kg, down 1,500 VND/kg compared to yesterday.

The Vietnam Coffee and Cocoa Association (VICOFA) said it has reported Vietnam's coffee export turnover for the 2023-2024 crop year. Notably, a famous name in the Vietnamese coffee industry, Trung Nguyen Group, only ranked 16th with an export value of 114 million USD.

Currently, Vietnamese coffee has been exported to over 80 countries and territories. Of which, Europe accounts for about 48% of the market share, Asia 21%, and the US 6%.

The ranking of enterprises with large coffee export turnover in Vietnam also changed when Vinh Hiep Company Limited (Gia Lai) surpassed Intimex Group Joint Stock Company (HCMC) to take the top spot.

Specifically, Vinh Hiep's export turnover increased sharply from 244 million USD in the 2022-2023 crop year to 520 million USD in the 2023-2024 crop year. Meanwhile, Intimex Group had a lower growth rate, from 318 million USD to 407 million USD.

In addition to the two leading positions, other enterprises with export value of over 200 million USD are Louis Dreyfus Company Vietnam, Tuan Loc Commodities, Dak Lak 2-9 Import-Export Company Limited, Nestlé Vietnam Company, and Intimex My Phuoc Joint Stock Company.

PHAM DUY

Source: https://vtcnews.vn/gia-ca-phe-hom-nay-2-11-dong-loat-giam-ar905237.html