Global robusta coffee prices will fluctuate in a strong and prolonged upward trend, due to concerns about scarce supply from the leading producing country in Southeast Asia, Vietnam, according to Bloomberg.
Coffee price today 8/19/2024
World coffee prices have experienced a strong week of increase, with Arabica being the driving force behind robusta's strong increase over the past two weeks, amid a shortage of supply from Vietnam.
Domestic coffee prices today, August 19, remained stable compared to the same time yesterday, trading in the range of 117,300 - 118,100 VND/kg. In contrast to the increasing trend of coffee on the two world exchanges, the domestic market decreased slightly and was gloomy.
According to the World & Vietnam , at the end of the trading session last weekend (August 16), the price of robusta coffee on the ICE Futures Europe London exchange continued to increase sharply, the delivery term for September 2024 increased by 94 USD, trading at 4,665 USD/ton. The delivery term for November 2024 increased by 74 USD, trading at 4,452 USD/ton. Average trading volume.
Arabica coffee prices on the ICE Futures US New York floor also increased sharply, with the September 2024 delivery period increasing by 5.55 cents, trading at 245.45 cents/lb. Meanwhile, the December 2024 delivery period increased by 6.05 cents, trading at 244.10 cents/lb. The average trading volume was high.
Last week, the price of robusta coffee futures for September delivery increased by 339 USD/ton. The price of arabica coffee futures for September delivery increased by 10.95 cents/lb. Domestic coffee prices lost an average of 1,000 VND/kg. Last week, the price of robusta coffee futures for September delivery increased by 99 USD/ton. The price of arabica coffee futures for September delivery increased by 4 cents/lb. Domestic coffee prices lost an average of 4,000 VND/kg.
Robusta coffee prices hit their highest in nearly a month on concerns that recent drought in Brazil could cause coffee trees to flower early. Cooxupe, Brazil’s top coffee cooperative, said coffee trees were still in shock after some growing regions in Brazil had not received adequate rain for 120 days.
Commenting on the market this week, experts said that, based on supply-demand factors and business position, coffee prices on the two exchanges this week will hardly be as "lucky" as last week. However, this week the head of the Fed will have an important speech. The market will listen to predict the trend of interest rate reduction, which will affect the current coffee price.
 |
| Domestic coffee prices last weekend (August 17) increased by 300 VND/kg in key purchasing localities. (Source: BourbonCoffee) |
According to Bloomberg, the focus of the story last week that pushed coffee futures to their biggest weekly gain in more than a month in New York was on supply concerns in top producer Brazil.
The market has rallied about 5% this week after farmers in Brazil reported some scattered frosts late last week. “The frost concerns in Brazil earlier this week didn’t materialize in a worrying way, but they were a ‘strong reminder’ of the market situation at the moment,” said Rabobank analyst Carlos Mera.
The second important story that has a strong impact on coffee prices right now is the upcoming implementation of the European Union's anti-deforestation law.
Domestic coffee prices last weekend (August 17) increased by 300 VND/kg in key purchasing localities. Unit: VND/kg
(Source: giacaphe.com) |
According to data from the General Department of Customs, in July, Vietnam's coffee exports reached 76,982 tons, worth 381.2 million USD, down 29.3% in volume but up 23.8% in value compared to the same period last year. Notably, the average export price of coffee last month reached a record 4,951 USD/ton, up 7.8% compared to the previous month and up 75.1% (equivalent to 2,123 USD/ton) compared to the same period in 2023.
In the first 7 months of this year, the export price of coffee increased by 52.3% to an average of 3,682 USD/ton. As a result, although the export volume decreased by 12.4% compared to the same period, the value still increased by 33.5%, reaching 979,353 tons, worth 3.6 billion USD.
With favorable price factors, the coffee industry is expected to bring in a record export turnover of 5 billion USD this year.
Regarding export markets, the European Union (EU) remained Vietnam’s largest coffee consumer in the first seven months of the year, accounting for 39% of total export volume with 381,699 tons, worth 1.37 billion USD. Although the volume of coffee exported to the EU decreased by 10.7%, the value increased by 39% compared to the same period last year.
Of which, exports to key markets such as Germany, Italy and Spain reached 121,500 tons, 91,082 tons and 71,734 tons respectively. Compared to the same period, the amount of coffee exported to Germany and Spain decreased by 11.6% and 14.5% respectively, while exports to Italy increased by 17.8%.
Coffee exports to several other major markets such as Japan, the US and Russia have declined significantly compared to the same period last year. However, exports to Asian markets recorded strong growth, with Indonesia up 50.4%, the Philippines up 63.7%, China up 27.2%, Thailand up 68.7%, and Malaysia up 61.7%.
In the EU market, demand for coffee from European importers is increasing due to the trend of stockpiling ahead of the deadline for compliance with the European Union Deforestation Regulation (EUDR) standards.
Meanwhile, the Vietnam - EU Free Trade Agreement (EVFTA), which took effect in August 2020, has helped the Vietnamese coffee industry increase its value and expand its market share in this market. Especially for roasted coffee, instant coffee and other coffee products, when the tax rate has been reduced to 0%.
Currently, Vietnam has surpassed many other leading producing countries such as India, Switzerland, Brazil... to become the leading supplier of processed coffee (instant coffee, coffee blends) to the EU, second only to the UK market.
Source: https://baoquocte.vn/gia-ca-phe-hom-nay-1982024-gia-ca-phe-the-gioi-tang-manh-trong-nuoc-am-dam-loi-nhac-nho-quan-trong-ve-tinh-hinh-thi-truong-thoi-diem-nay-283020.html
![[Photo] An Phu intersection project connecting Ho Chi Minh City-Long Thanh-Dau Giay expressway behind schedule](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2025/8/21/1ad80e9dd8944150bb72e6c49ecc7e08)
![[Photo] Prime Minister Pham Minh Chinh receives Australian Foreign Minister Penny Wong](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2025/8/20/f5d413a946444bd2be288d6b700afc33)
![[Photo] Politburo works with Standing Committees of Lang Son and Bac Ninh Provincial Party Committees](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2025/8/20/0666629afb39421d8e1bd8922a0537e6)
Comment (0)