Coffee prices continue to rise, nearing 126,000 VND/kg.

World coffee prices at 4:30 AM on July 10, 2024, were updated on the Vietnam Commodity Exchange (MXV) trading platform (the only channel in Vietnam that continuously updates prices linked to exchanges worldwide).

Today's online coffee prices from the three main futures exchanges, ICE Futures Europe, ICE Futures US, and B3 Brazil, are continuously updated by Y5Cafe throughout the trading hours and are also updated on www.giacaphe.com as follows:

Coffee prices today, July 10, 2024: Robusta coffee prices on the London exchange. (Image: Screenshot from giacaphe.com)

At the close of trading on July 10, 2024, at 4:30 PM, Robusta coffee prices on the London exchange rose to between $4,030 and $4,559 per ton. Specifically, the September 2024 delivery contract was $4,559 per ton (up $211 per ton); the November 2024 delivery contract was $4,381 per ton (up $205 per ton); the January 2024 delivery contract was $4,188 per ton (up $198 per ton); and the March 2025 delivery contract was $4,030 per ton (up $183 per ton).

Coffee prices today, July 10, 2024: New York Arabica coffee prices (Image: Screenshot from giacaphe.com)

Arabica coffee prices on the New York exchange on the morning of July 10, 2024, increased from 237.95 to 246.20 cents/lb. Specifically, the September 2024 delivery contract was 246.20 cents/lb (up 5.06%); the December 2024 delivery contract was 243.60 cents/lb (up 5.00%); the March 2025 delivery contract was 240.90 cents/lb (up 4.81%); and the May 2025 delivery contract was 237.95 cents/lb (up 4.71%).

Coffee prices today, July 10, 2024: Brazilian Arabica coffee prices. (Image: Screenshot from giacaphe.com)

Brazilian Arabica coffee prices rose sharply on the morning of July 10, 2024. Specifically, the July 2024 delivery contract was $296.90/ton (up 2.70%); the September 2024 contract was $300.05/ton (up 5.07%); the December 2024 contract was $300.00/ton (up 6.12%); and the March 2025 contract was $279.85/ton (up 2.62%).

Robusta coffee traded on the ICE Futures Europe exchange (London exchange) opens at 4:00 PM and closes at 12:30 AM (the next day), Vietnam time.

Arabica coffee on the ICE Futures US (New York) exchange opens at 4:15 PM and closes at 1:30 AM (the next day), Vietnam time.

For Arabica coffee traded on the B3 Brazil exchange, trading hours will be from 7:00 PM to 2:35 AM (the following day), Vietnam time.

Domestic coffee prices, updated at 4:30 AM on July 10, 2024, according to www.giacaphe.com, range from 125,100 to 125,700 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 125,600 VND/kg, with the highest prices in Dak Lak , Gia Lai, and Kon Tum provinces at 125,700 VND/kg.

Specifically, the purchase price of coffee in Gia Lai province (Chu Prong) is 125,700 VND/kg, while in Pleiku and La Grai it is 125,600 VND/kg; in Kon Tum province the price is 125,700 VND/kg; and in Dak Nong province, coffee is purchased at the highest price of 125,600 VND/kg.

In Lam Dong province, in districts such as Bao Loc, Di Linh, and Lam Ha, the price of bulk green coffee beans (green coffee beans, fresh coffee beans) is 125,100 VND/kg.

Today, July 10th, coffee prices in Dak Lak province are as follows: in Cu M'gar district, coffee is being purchased at approximately 125,700 VND/kg, while in Ea H'leo district and Buon Ho town, it is being purchased at the same rate of 125,600 VND/kg.

According to analysts at Citi Research, the US Federal Reserve (Fed) will conduct several large interest rate cuts, each by 25 basis points. These cuts will begin in September 2024 and continue until July 2025.

Tight supply due to slow exports from Vietnam, along with weather issues, has supported rising coffee prices. Supply in the world's leading Robusta producing country will remain scarce until the next harvest accelerates in November.

Traders believe that the sluggish export situation and supply shortages in Vietnam could last until November this year, when the new crop begins to be harvested.

According to traders, strong buying demand in Vietnam at the end of 2024 and the beginning of 2025 will make it difficult for spot prices to fall. However, they also note that the Robusta coffee harvest in Indonesia is gradually accelerating, and is expected to improve significantly compared to the previous season.

According to the U.S. Department of Agriculture (USDA), global coffee production in the new crop season (beginning next October in most countries) will increase by 7 million bags, equivalent to 4.1% compared to the current season.

Volcafe has forecast a global Robusta coffee deficit of 4.6 million bags in 2024/25, which, while smaller than the 9 million bag deficit in the 2023/24 season, marks the fourth consecutive year of Robusta coffee deficit, continuing to impact the market.

Certified sorted Arabica coffee stocks held on the New York market reportedly fell by 9,270 bags last Friday, bringing the total to 811,359 bags.

This information is for reference only. Prices may vary depending on the location.

Source: https://congthuong.vn/gia-ca-phe-hom-nay-1072024-gia-ca-phe-tiep-tuc-tang-sat-moc-126000-dongkg-331075.html