Domestic coffee prices regain upward momentum.

World coffee prices at 4:20 AM on June 22, 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, June 22, 2024: Robusta coffee prices on the London exchange.

At the close of trading on June 22, 2024, at 4:30 PM, Robusta coffee prices on the London exchange rose sharply to between $3,972 and $4,315 per ton. Specifically, the July 2024 delivery contract was $4,315 per ton (down $59 per ton); the September 2024 delivery contract was $4,119 per ton (down $57 per ton); the November 2024 delivery contract was $3,945 per ton (down $56 per ton); and the January 2025 delivery contract was $3,972 per ton (down $47 per ton).

Coffee prices today, June 22, 2024: Arabica coffee prices on the New York exchange.

Similarly, Arabica coffee prices on the New York exchange rose sharply on the morning of June 22, 2024, increasing from 220.75 to 226.25 cents/lb. Specifically, the September 2024 delivery contract was 226.25 cents/lb (down 4.10%); the December 2024 delivery contract was 224.50 cents/lb (down 4.05%); the March 2025 delivery contract was 223.00 cents/lb (down 4%); and the May 2025 delivery contract was 220.75 cents/lb (down 4.25%).

Coffee prices today, June 22, 2024: Brazilian Arabica coffee prices

Brazilian Arabica coffee prices rose slightly on the morning of June 22, 2024. Specifically, the July 2024 delivery contract was $289.15/ton (up 5.25%); the September 2024 contract was $281.20/ton (up 0.60%); the December 2024 contract was $278.95/ton (up 1.70%); and the March 2025 contract was $276.15/ton (up 4.35%).

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 June 22, 2024, according to www.giacaphe.com, are in the range of 122,000-123,200 VND/kg. The average purchase price in the Central Highlands provinces is currently 123,100 VND/kg, with the highest price in Dak Nong province at 123,200 VND/kg.

Specifically, the purchase price of coffee in Gia Lai province (Chu Prong) is 123,000 VND, in Pleiku and La Grai it is 122,900 VND/kg; in Kon Tum province the price is 123,000 VND/kg; in Dak Nong province the coffee is purchased at the highest price of 123,200 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 green coffee beans) is 122,000 VND/kg.

Today's coffee prices (June 22nd) in Dak Lak province are as follows: in Cu M'gar district, coffee is being purchased at approximately 123,000 VND/kg, while in Ea H'leo district and Buon Ho town, it is being purchased at the same rate of 122,900 VND/kg.

Coffee prices on June 22nd, Domestic coffee prices on June 22nd, 2024

The USDA forecasts world coffee production for the 2023/2024 crop year to increase by 4.2%, with arabica production rising by 10.7% and robusta production falling by 3.3%. Coffee inventories at the end of the 2023/2024 crop year are expected to decrease by 4%, while Brazil's arabica production will increase by 12.8% and Colombia's by 7.5%.

Vietnam's robusta coffee production for the 2024/2025 crop year (October 2023 to May 2024) is projected to reach only 24 million bags, the lowest level in 13 years.

Drought and pest infestations have severely impacted coffee yields, putting pressure on robusta exports. Leading businesses in Vietnam report that inventory levels are only sufficient until around June 2024, not enough to last until the next harvest season.

Ongoing weather problems in key coffee-producing countries like Vietnam and Brazil are continuing to drive up coffee prices due to concerns about crop failure and insufficient supply.

Earlier, on June 20th, the market experienced a strong surge, reaching its highest level in two weeks. Coffee prices were supported by the continued hot and dry weather in Brazil and Vietnam, which added to concerns about global coffee production for the next crop season.

Inventories of sorted Arabica coffee held in the New York Arabica market remained unchanged as of June 19, recording an inventory of 824,416 bags.

Commodity markets lacked direction from the US on Wednesday, but Robusta coffee still traded highs during the day and the upward momentum continued into Thursday's session.

Thiago Cazarini, president of Cazarini Trading Co., said investors are also monitoring the weather in leading producer Brazil. While it's typical for this time of year, the country's drought and low winter temperatures could raise concerns about future supply.

Hot and dry weather in Vietnam has also raised concerns about the upcoming harvest in the world's largest exporter of Robusta coffee, a type of coffee used in instant coffee. Maxar reports that Vietnam is expecting scattered showers in the coming period, indicating that rainfall so far in June has been insufficient.

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

Source: https://congthuong.vn/gia-ca-phe-hom-nay-2262024-gia-ca-phe-trong-nuoc-lay-lai-da-tang-327461.html