Coffee prices "slide" for two consecutive weeks, abundant supply; establishing partnership between two coffee "powerhouses"

Vietnam is the world's second largest coffee exporter with many different types of coffee, Italy is the world's third largest coffee bean importer. When a large raw material producing country like Vietnam cooperates with a consumer market with good processing technology and marketing thinking like Italy, it will create double added value for both sides.

Coffee price today 10/14/2024

World coffee prices have had their second consecutive week of sharp decline.

Last week, the price of robusta coffee futures for November delivery decreased by 241 USD/ton. The price of arabica coffee futures for December delivery decreased by 5.3 cents/lb. Last week, the price of robusta coffee futures for November delivery decreased by 415 USD/ton. The price of arabica coffee futures for December delivery decreased by 11.8 cents/lb.

The decline in coffee prices last week was due to the weakness of the Brazilian Real against the US dollar. The Real fell to a one-month low over the weekend (October 11), prompting the world’s top coffee growers to once again boost export sales. A SAFRAS survey showed that as of October 9, coffee growers had sold about 62% of Brazil’s 24/25 coffee crop, up 6% from the previous month.

Coffee exports from Brazil continue to accelerate at the start of the new season. Data from Cecafé shows that in September, 4.12 million bags of green coffee were exported, of which 3.19 million bags were Arabica and 911 thousand bags were Conillon Robusta.

According to World & Vietnam , at the end of the trading session of the weekend (October 11), the price of robusta coffee on the ICE Futures Europe London exchange decreased sharply, the delivery period in November 2024 decreased by 86 USD, trading at 4,828 USD/ton. The delivery period in January 2025 decreased by 64 USD, trading at 4,678 USD/ton. Trading volume was low.

Arabica coffee prices on the ICE Futures US New York exchange turned down, with the December 2024 delivery term down 2.70 cents, trading at 252.05 cents/lb. Meanwhile, the March 2025 delivery term down 2.7 cents, trading at 250.75 cents/lb. Average trading volume.

In fact, the price gap between robusta for November delivery and arabica for December delivery between the London and New York markets has narrowed significantly, showing that robusta is gradually conquering the market with higher value.

Domestic coffee prices at the end of last week's trading session (October 12) decreased by 300 - 400 VND/kg in some key purchasing localities. (Source: doanhnhan.biz)

Domestic coffee prices last weekend (October 13) were traded in the range of 113,000 - 113,700 VND/kg, down an average of 2,500 - 3,000 VND/kg. Last week, domestic coffee prices also lost an average of 6,000 VND/kg. The market is also more abundant in supply with the new harvest (2024-2025) from Vietnam starting to "start" in the market from the Central Highlands provinces.

The National Weather Service's Climate Prediction Center has revised its forecast downward, saying there is only a 60% chance of La Niña developing later this year - down from a previous forecast of 74% chance of the adverse weather phenomenon. La Niña is a phenomenon that brings heavy rains to Pacific Rim countries, affecting coffee growing regions in Vietnam, Colombia, Indonesia and Peru...

Domestic coffee prices at the end of last week's trading session (October 12) decreased by 300 - 400 VND/kg in some key purchasing localities. Unit: VND/kg

Average price	Medium
USD/VND exchange rate	24,610	- 30
DAK LAK	113,600	- 400
LAM DONG	113,000	- 300
GIA LAI	113,600	- 400
DAK NONG	113,700	- 400

(Source: giacaphe.com)

The Vietnamese Embassy in Italy has just coordinated with Italian and Vietnamese partners to organize the Vietnam-Italy Coffee Industry Connection Forum, the main activity within the framework of Vietnam-Italy Coffee Day, in the city of Turin, Northern Italy. This is a large-scale, important and meaningful economic event, organized for the first time to connect cooperation and establish partnerships between the two coffee "powerhouses".

Speaking at the opening of the Forum, Vietnamese Ambassador to Italy Duong Hai Hung emphasized - The Forum is a valuable opportunity for both sides to effectively exploit the potential, combine the strength, mutual support and complementarity of the coffee industries of the two countries, establish specific partnerships and cooperation in stages of the supply chain such as production, processing, construction, franchising, joint ventures, investment, product distribution, machinery and equipment supply, exchange of experiences, tastes and product trends, to jointly develop sustainably to meet the needs and interests of both sides.

Vice President of the Vietnam Coffee and Cocoa Association Bach Thanh Tuan emphasized that this is an event that marks the rise of the Vietnamese coffee business community when it has access to Italy, an important European market. When a large raw material producing country like Vietnam cooperates with a consumer market with good processing technology and marketing thinking like Italy, it will create double added value for both sides.

Opportunities for Italian businesses to cooperate with Vietnam are also considered to be very potential, because Vietnam is a large market in Southeast Asia as well as Asia. Vietnam can be a bridge for Italian businesses to export machinery, equipment and Italian coffee products to markets such as Japan, China, Korea and Vietnam. The two sides should maintain this forum annually and need to exchange and take advantage of the advantages to create prosperity.

Coffee is an important industry in Vietnam with an export value of 4.18 billion USD in 2023, expected to reach 5-6 billion USD this year, with the market expanding worldwide. Meanwhile, coffee is an indispensable part of Italian culture. In addition to domestic consumption, Italy is also an important supplier of roasted coffee to other European countries. The coffee processing industry in Italy generates 3.6 billion USD in revenue. Famous Italian coffee brands and industries have important influence and the ability to promote coffee trends worldwide.

Source: https://baoquocte.vn/gia-ca-phe-hom-nay-14102024-gia-ca-phe-truot-doc-hai-tuan-lien-tiep-nguon-cung-doi-dao-thiet-lap-quan-he-doi-tac-giua-hai-cuong-quoc-ca-phe-289986.html