World coffee prices at 4:12 AM on April 17, 2024, were updated on the Vietnam Commodity Exchange (MXV) (MXV continuously updates world coffee prices, matching those of exchanges worldwide; it is the only channel in Vietnam that continuously updates prices linked to exchanges around the world).
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:
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| Coffee prices on April 17th, domestic coffee prices on April 17th, 2024 |
At the close of trading on April 17, 2024, at 4:12 AM, Robusta coffee prices on the London exchange maintained their upward trend, increasing by 25-31 USD/ton compared to the previous trading session, fluctuating between 3,782 and 4,058 USD/ton. Specifically, the May 2024 delivery contract was 4,005 USD/ton; the July 2024 delivery contract was 3,977 USD/ton; the September 2024 delivery contract was 3,896 USD/ton; and the November 2024 delivery contract was 3,794 USD/ton.
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| Coffee prices on April 17th, domestic coffee prices on April 17th, 2024 |
Similarly, Arabica coffee prices on the New York exchange continued to rise slightly on the morning of April 17, 2024, increasing by 1.55 - 5.20 cents/lb compared to the previous trading session. Specifically, the May 2024 delivery contract was 236.75 cents/lb; the July 2024 contract was 228.40 cents/lb; the September 2024 contract was 226.85 cents/lb; and the December 2024 contract was 225.50 cents/lb.
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| Coffee prices on April 17th, domestic coffee prices on April 17th, 2024 |
Brazilian Arabica coffee prices on the morning of April 17, 2024 showed mixed trends across different delivery periods. Specifically, the May 2024 delivery price was $283.40/ton; the July 2024 delivery price was $286.65/ton; the September 2024 delivery price was $276.40/ton; and the December 2024 delivery price was $272.10/ton.
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 19:00 to 02:35 (the next day), Vietnam time.
Domestic coffee prices, updated at 4:12 AM on April 17, 2024, are as follows: Domestic coffee prices continue to rise sharply, increasing by approximately 3,200 - 3,500 VND/kg; continuously reaching record highs and standing at historical highs. Currently, the average purchase price in the Central Highlands provinces is 114,500 VND/kg, with the highest purchase price in Dak Nong province at 114,600 VND/kg.
Specifically, the purchase price of coffee in Gia Lai and Kon Tum provinces is 114,400 VND/kg; in Dak Nong province, coffee is purchased at the highest price of 114,600 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 114,000 VND/kg.
Today's coffee prices (April 17th) in Dak Lak province are as follows: in Cu M'gar district, coffee is being purchased at approximately 114,400 VND/kg, while in Ea H'leo district and Buon Ho town, it is being purchased at the same rate of 114,500 VND/kg.
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| Coffee prices on April 17th, domestic coffee prices on April 17th, 2024 |
According to experts, concerns about the coffee crop in Brazil and Vietnam are driving futures coffee purchases by funds.
However, the Brazilian Real falling to its lowest level in six and a half months against the dollar supported selling by Brazilian farmers, but only somewhat cooled the heated atmosphere on both exchanges.
The reason for the continued high price of coffee is likely due to a scarcity of supply, attributed to the severe drought currently affecting the world's two main coffee-producing countries. No one dares to sell first; the market consistently buys to anticipate price increases before selling later. This strategy has proven successful in recent times, further reinforcing the upward trend in coffee prices.
The recent rise in coffee prices has brought positive momentum to the domestic Brazilian coffee market. Growers are more present when selling, taking advantage of favorable conditions. High prices in both New York and London, combined with the Real's fluctuating value above 5.0 against the dollar, have encouraged sellers and brought greater liquidity to the market. Many growers are accelerating sales to secure cash flow during the harvest season.
Despite very high coffee prices, many farmers are regretting not having enough to sell, while traders and purchasing businesses are struggling with excessively high prices. Many processing and exporting companies were unable to stockpile goods in time, forcing them to buy at peak prices to fulfill signed contracts.
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