Domestic coffee prices continue to rise again

World coffee prices at 4:30 a.m. on July 22, 2024 were updated on the MXV Vietnam Commodity Exchange.

Today's online coffee prices of the three main coffee futures exchanges ICE Futures Europe, ICE Futures US and B3 Brazil are updated by www.giacaphe.com as follows:

Coffee price today July 22, 2024: Robusta coffee price on London floor. (Photo: Screenshot giacaphe.com

At the end of the trading session, the price of Robusta coffee on the London floor on July 22, 2024 at 4:30 a.m. decreased to 4,002 - 4,530 USD/ton. Specifically, the delivery period for September 2024 is 4,530 USD/ton (up 51 USD/ton); the delivery period for November 2024 is 4,355 USD/ton (up 38 USD/ton); the delivery period for January 2025 is 4,164 USD/ton (up 25 USD/ton) and the delivery period for March 2025 is 4,002 USD/ton (up 7 USD/ton).

Coffee price today July 22, 2024: New York Arabica coffee price (Photo: Screenshot giacaphe.com

Arabica coffee prices on the New York floor on the morning of July 22, 2024 decreased from 231.95 - 238.20 cents/lb. Specifically, the delivery period for September 2024 is 238.20 cents/lb (down 1.12%); the delivery period for December 2024 is 236.70 cents/lb (down 1.11%); the delivery period for March 2025 is 234.95 cents/lb (down 1.07%) and the delivery period for May 2025 is 231.95 cents/lb (down 1.19%).

Coffee price today July 22, 2024: Brazilian Arabica coffee price. (Photo: Screenshot giacaphe.com)

The price of Brazilian Arabica coffee on the morning of July 22, 2024 increased and decreased in opposite directions. Specifically, the delivery period for July 2024 is 299.50 USD/ton (down 2.25%); the delivery period for September 2024 is 293.05 USD/ton (down 0.09%); the delivery period for December 2024 is 288.50 USD/ton (down 0.17%) and the delivery period for March 2025 is 286.65 USD/ton (down 1.16%).

Robusta coffee traded on the ICE Futures Europe exchange (London exchange) opens at 16:00 and closes at 00:30 (next day), Vietnam time.

Arabica coffee on the ICE Futures US floor (New York floor) opens at 16:15 and closes at 01:30 (next day), Vietnam time.

For Arabica coffee traded on the B3 Brazil exchange, it will open from 19:00 – 02:35 (next day), Vietnam time.

According to experts, coffee trading activities in Vietnam remain sluggish amid low supply and high selling prices. The Vietnam Coffee and Cocoa Association (Vicofa) forecasts that Vietnam’s coffee export volume in July – September will gradually decrease due to the gradual depletion of supply. It will not be until October – November, when the new coffee harvest begins, that Vietnam’s coffee supply will increase again.

By the end of the first 9 months of the 2023/24 crop year (from October 2023 to June 2024), Vietnam had exported nearly 1.26 million tons of coffee, equivalent to 86% of the output of about 1.47 million tons of the current crop year and down more than 11% compared to the same period last crop year.

If we exclude the inventory from last year, we will only have about 210,000 tons of coffee left to export in the next 4 months until the new harvest takes place in November this year. This will cause the price of this agricultural product to continue to increase but the export volume may decrease sharply in the coming months.

The goal by 2030 is that our country's coffee export turnover will reach 6 billion USD. Regarding the types of exported coffee, the market recorded growth not only in output but also in value. Especially with Robusta coffee beans reaching nearly 1.9 billion USD, Arabica more than 56 million USD and decaffeinated coffee nearly 3.2 million USD.

Domestic coffee prices were updated at 4:30 a.m. on July 22, 2024 as follows: According to www.giacaphe.com, domestic coffee prices increased slightly by VND 1,000/kg compared to yesterday, ranging from VND 127,000 to VND 127,600/kg. Currently, the average purchase price in the Central Highlands provinces is VND 127,400/kg, the highest purchase price in Dak Nong and Dak Lak provinces is VND 127,600/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 127,500 VND, in Pleiku and La Grai the same price is 127,400 VND/kg; in Kon Tum province the price is 127,500 VND/kg; in Dak Nong province the coffee is purchased at the highest price of 127,600 VND/kg.

The price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at 127,000 VND/kg.

Coffee prices today, July 22, in Dak Lak province increased slightly by 1,000 VND/kg compared to yesterday; in Cu M'gar district, coffee was purchased at about 127,600 VND/kg, and in Ea H'leo district and Buon Ho town, it was purchased at the same price of 127,500 VND/kg.

The decline in coffee prices last week was expected after two weeks of strong gains. On the floor, funds and speculators rebalanced their commodity portfolios. In addition, a recovering US dollar and a favorable harvest in Brazil put pressure on the market.

The International Coffee Organization (ICO) said that global coffee exports in May reached 11.8 million bags, up 9.8% year-on-year and marking the eighth consecutive month of growth since the beginning of the crop year. In the first eight months of the 2023/24 crop year (October 2023 to May 2024), global coffee exports reached 92.7 million bags, up 10.9% or 9.1 million bags compared to the same period last year.

In June, Robusta and Arabica prices on the world market both fell sharply compared to the end of May. The reason was that the Brazilian real fell to its lowest level in 19 months against the USD, which encouraged growers to increase sales.

Robusta prices adjusted in June, causing the overall price in the second quarter of 2024 to decrease. However, this is still considered a temporary decrease and the market will quickly recover because supply is still limited, especially in Vietnam.

Coffee price list today 7/22/2024

Market	Average price (VND/kg)	Change (VND/kg)
Dak Lak	127,600	+1,000
Lam Dong	127,000	+1,000
Gia Lai	127,500	+1,000
Kon Tum	127,500	+1,000
Dak Nong	127,600	+1,000

Information for reference only. Prices may vary depending on time and location.

Source: https://congthuong.vn/gia-ca-phe-hom-nay-2272024-gia-ca-phe-trong-nuoc-tiep-da-tang-tro-lai-333864.html