Coffee price today 11/9: Strong increase

World coffee prices

Early morning of November 9 (Vietnam time), on the London floor, the price of Robusta coffee futures for delivery in January 2025 increased by 179 USD/ton, to 4,486 USD/ton. The price for delivery in March 2025 increased by 176 USD/ton, to 4,426 USD/ton.

Arabica coffee prices on the New York floor for December 2024 delivery increased by 11.65 cents/lb, to 260.4 cents/lb, and for March 2025 delivery increased by 11.7 cents/lb, to 259.75 cents/lb.

Domestic coffee prices

Domestic coffee prices today increased by 2,500 - 2,700 VND/kg. Specifically, in Dak Lak district, coffee prices increased by 2,500 VND/kg to 108,500 VND/kg.

In Lam Dong , the coffee purchase price is at 108,000 VND/kg, an increase of 2,500 VND/kg.

Today's coffee price in Gia Lai is 108,500 VND/kg, up 2,500 VND/kg. In Dak Nong, the coffee price is 108,700 VND/kg, up 2,700 VND/kg.

Vietnam's main coffee-producing region is expected to see heavy rains through Friday, the National Center for Hydro-Meteorological Forecasting and the Central Highlands Hydro-Meteorological Station said. Vietnam, the world's largest producer of Robusta, is entering the early stages of its coffee harvest.

According to Mr. Nguyen Huu Long, Director of Vietnam Coffee Academy Joint Stock Company, coffee prices are strongly affected by speculative factors, making them difficult to predict. However, speculators still have to rely on actual market demand to decide on investments.

Coffee is being harvested in the Central Highlands and the crop failure is quite evident. The lack of supply is still the main factor keeping coffee prices high, with a surplus in the coming period because Vietnamese farmers are very good at farming and can increase production very quickly in just a few crops. And if there is even a slight surplus of coffee, coffee prices will plummet as they have done before.

Coffee prices fell on Friday and more than halved Thursday’s sharp gains. Signs of a larger global coffee supply are weighing on prices, after the International Coffee Organization reported on Friday that global coffee exports in September rose 25% year-on-year to 10.76 million bags and exports from October to September rose 11.7% year-on-year to 137.2 million bags.

The US dollar turned down when the US Federal Reserve (Fed) announced its decision to cut interest rates by another 0.25%. Brazil is currently the world's largest coffee producer and exporter, with an average export share of 32% of the global market over the past five years. Brazil's domestic coffee consumption has also increased sharply, making Brazil the world's second largest coffee consumer after the US with about 22.5 million bags per year.

Hao Nhien (synthesis)

Source: https://vtcnews.vn/gia-ca-phe-hom-nay-9-11-tang-manh-ar906373.html