Domestic prices fall for fifth consecutive week

Experts predict that coffee prices on November 4, 2024 will continue to be under downward pressure due to the impact of the harvest in Vietnam and favorable weather conditions in Brazil.

According to business analysts, strong exports of Robusta conilon coffee from Brazil this season have contributed to the pressure on prices. Moreover, the weather has improved, with rains in Brazil's main coffee growing regions in recent times, and coffee flowers have bloomed well in October 2024, helping Brazil's coffee crop recover after a long dry period, signaling a positive harvest.

Coffee prices also fell sharply because Brazil's local currency, the Real, weakened to its lowest level in nearly three months against the US dollar, prompting farmers to boost export sales.

Coffee price forecast for November 4, 2024: Domestic prices decrease for the 5th consecutive week, what will the 2024-2025 crop year be like?

Vietnam’s supply has started to increase since this month, and the ongoing harvest has put downward pressure on robusta coffee prices. The recent storm No. 6 did not cause much damage, nor did it slow down the progress of the harvest of the growers.

Meanwhile, robusta coffee exports from Indonesia’s Sumatra region saw a healthy increase in September 2024. The Asian producer’s robusta exports in September were 159,918 bags, up 76.36% year-on-year. This contributed to the island’s total Robusta coffee exports in the first six months of 2024 rising 14.28% year-on-year to 1,268,499 bags.

Recorded in the trading session on November 3, 2024, today's coffee price decreased sharply by 1,200 - 1,300 VND/kg, ranging from 106,000 - 106,500 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 106,500 VND/kg, the highest purchase price in Dak Nong and Dak Lak provinces is 106,500 VND/kg. Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 106,400 VND, down 1,200 VND/kg compared to the previous day, in Pleiku and La Grai the same price is 106,300 VND/kg; in Kon Tum province at the price of 106,400 VND/kg, down 1,200 VND/kg compared to the previous day; In Dak Nong province, coffee was purchased at the highest price of 106,500 VND/kg, down 1,200 VND/kg compared to the previous day.

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 106,000 VND/kg, down 1,300 VND/kg compared to the previous day.

Domestic coffee prices (November 3) in Dak Lak province; in Cu M'gar district, coffee was purchased at about 106,500 VND/kg, down 1,200 VND/kg, while in Ea H'leo district and Buon Ho town, it was purchased at the same price of 107,600 VND/kg.

Updated world coffee prices at 20:00 on November 3, 2024, Vietnam time on the London exchange, the price of Robusta coffee futures contract for November 2024 delivery on the London exchange was at 4,279 USD/ton, down 90 USD compared to the beginning of the trading session.

Coffee price today November 3, 2024: Robusta coffee price on the London floor. (Photo: Screenshot of giacaphe.com

The January 2025 delivery term is 4,208 USD/ton, down 73 USD; the March 2025 delivery term is 4,150 USD/ton, down 66 USD and the May 2025 delivery term is 4,075 USD/ton, down 70 USD.

Arabica coffee prices on the New York floor on November 3, 2024. (Photo: Screenshot of giacaphe.com)

In particular, the price of Arabica coffee on the New York floor at 20:00 on November 3, 2024 decreased in all terms, fluctuating at 239.20 - 242.95 cents/lb.

Specifically, the December 2024 delivery period is 242.95 cents/lb; down 2.95 cents/lb compared to the beginning of the session. The March 2025 delivery period is 242.40 cents/lb, down 3.10 cents/lb; the May 2025 delivery period is 241.35 cents/lb, down 3.10 cents/lb and the July 2025 delivery period is 239.20 cents/lb, down 2.95 cents/lb.

Brazilian Arabica coffee price on November 3, 2024. (Photo: Screenshot of giacaphe.com)

The price of Brazilian Arabica coffee today at 9:00 p.m. on November 3, 2024 increased and decreased in opposite directions. Specifically, the delivery period for December 2024 is 297.30 USD/ton, up 0.75%; the delivery period for March 2025 is 295.55 USD/ton, down 1.04%; the delivery period for May 2025 is 295.05 USD/ton, down 1.37% and the delivery period for July 2025 is 292.10 USD/ton, down 1.32%.

Robusta coffee traded on the ICE Futures Europe (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.

Information for reference only. Prices may vary by location.

Source: https://congthuong.vn/du-bao-gia-ca-phe-ngay-4112024-gia-noi-dia-giam-tuan-thu-5-lien-tiep-356532.html