Coffee prices today, November 6: World and domestic prices both go up

World coffee prices

Early morning of November 6 (Vietnam time), on the London floor, the price of Robusta coffee futures for November 2024 delivery increased by 51 USD/ton, at 4,369 USD/ton, and for January 2025 delivery increased by 45 USD/ton, at 4,294 USD/ton.

Arabica coffee prices on the New York floor for December 2024 delivery increased by 3.85 cents/lb, to 249.80 cents/lb, and for March 2025 delivery increased by 3.80 cents/lb, to 248.75 cents/lb.

Domestic coffee prices

Domestic coffee prices today fluctuated at 105,900 - 106,400 VND/kg, a slight increase of 400 to 500 VND/kg compared to yesterday.

Specifically, in Di Linh, Lam Ha, Bao Loc districts ( Lam Dong ), today's coffee price is purchased at 105,900 VND/kg.

In Cu M'gar district ( Dak Lak ), today's coffee price is at 106,400 VND/kg. In Ea H'leo district (Dak Lak), Buon Ho (Dak Lak), today's coffee price is purchased at the same level of 106,300 VND/kg.

Similarly in Dak Nong province, today's coffee purchase price is at 106,400 VND/kg in Gia Nghia and 106,300 VND/kg in Dak R'lap.

World and domestic coffee prices are both going up.

In Gia Lai province, coffee price today is at 106,400 VND/kg (Chu Prong), in Pleiku and La Grai the price is 106,300 VND/kg.

Today's coffee price in Kon Tum province is purchased at 106,400 VND/kg.

According to the Vietnam Commodity Exchange (MXV), the prices of two coffee products increased in the first trading session of the week. Specifically, the price of Arabica coffee increased by more than 1% after two consecutive sessions of decline, while the price of Robusta coffee also recovered by nearly 1% from the lowest level in nearly 3 months.

Coffee gains were supported by a stronger Brazilian Real and a weaker Dollar Index, which pulled the USD/BRL exchange rate down 1.3% from its highest level in nearly three years. The narrowing exchange rate differential could lead to lower coffee exports from Brazil due to the smaller currency differential advantage, fueling speculators’ expectations of higher prices.

According to Somar Meteorologia, rainfall in Minas Gerais state, Brazil’s largest Arabica coffee growing region, was just 27.4 mm last week, 64% of the historical average. Coffee production in areas affected by prolonged dry weather could fall 20-30% below potential, despite recent rains boosting the main crop’s flowering, analysts from the Procafe Foundation said.

Ngoc Vy

Source: https://vtcnews.vn/gia-ca-phe-hom-nay-6-11-the-gioi-va-trong-nuoc-deu-di-len-ar905807.html