Domestic trading is gloomy, waiting for positive signals from the new harvest

World coffee prices in the early morning of October 9, 2024, at 4:30 am, were updated on the Vietnam Commodity Exchange MXV (world coffee prices are continuously updated by MXV, matching world exchanges, the only channel in Vietnam that continuously updates and links to world exchanges).

Today's online coffee prices of the three main coffee futures exchanges ICE Futures Europe, ICE Futures US and B3 Brazil are continuously updated by Y5Cafe during the trading hours of the exchange, updated by www.giacaphe.com as follows:

Coffee price today October 9, 2024: Robusta coffee price on the London floor. (Photo: Screenshot giacaphe.com

At the end of the trading session, the price of Robusta coffee on the London floor on October 9, 2024 at 4:30 a.m. was 4,386 - 4,856 tons. Specifically, the delivery period for November 2024 was 4,856 USD/ton, down 12 USD/ton; the delivery period for January 2025 was 4,684 USD/ton, up 24 USD/ton; the delivery period for March 2025 was 4,513 USD/ton, up 28 USD/ton and the delivery period for May 2025 was 4,386 USD/ton, up 39 USD/ton.

Arabica coffee prices on the New York floor on October 9, 2024. (Photo: Screenshot of giacaphe.com)

Arabica coffee prices on the New York floor on the morning of October 9, 2024, green dominated, down from 3.55 - 3.75 cents/lb. Specifically, the December 2024 delivery period was 248.20 cents/lb, up 1.45%; the March 2025 delivery period was 246.95 cents/lb, up 1.48%); the May 2025 delivery period was 245.15 cents/lb (up 1.53%) and the July 2025 delivery period was 242.85, up 1.57%.

Brazilian Arabica coffee price on October 9, 2024. (Photo: Screenshot of giacaphe.com)

The price of Brazilian Arabica coffee on the morning of October 9, 2024 increased and decreased in different directions. Specifically, the delivery period for December 2024 was 300.00 USD/ton, down 0.15%; the delivery period for March 2025 was 300.30 USD/ton (up 0.49%); the delivery period for May 2025 was 300.10 USD/ton, up 1.66% and the delivery period for July 2025 was 296.95 USD/ton, up 1.70%.

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 (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 be open from 19:00 – 02:35 (next day), Vietnam time.

Domestic coffee prices were updated at 4:30 a.m. on October 9, 2024 as follows: The domestic coffee market today decreased sharply, an average decrease of 2,500 VND/kg, ranging from 113,000 - 113,600. Currently, the average purchase price in the Central Highlands provinces is 113,400 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces is 113,600 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 113,500 VND/kg, down 2,500 VND/kg; in Pleiku and La Grai it is 113,400 VND/kg. In Kon Tum province, the price is 113,500 VND/kg, down 2,500 VND/kg; In Dak Nong province, coffee is purchased at 113,600 VND/kg in Gia Nghia and 113,500 VND/kg in Dak R'lap.

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 113,000 VND/kg, a decrease of 2,500 VND/kg compared to yesterday.

Coffee prices today (October 9) in Dak Lak province; in Cu M'gar district, coffee is purchased at about 113,600 VND/kg, down 2,500 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at 113,500 VND/kg.

Rain is expected across Brazil’s major coffee regions this week, just in time for the flowering of the coffee trees, according to weather forecasting firm Maxar Technologies. This is a critical period for assessing the outlook for next season’s production. However, it is uncertain how the coffee trees will recover from the historic drought. Rains can only help mitigate the damage to production.

Coffee price today October 9, 2024: Domestic transactions are gloomy, waiting for positive signals from the new harvest

In addition, coffee prices were also under downward pressure after the International Coffee Organization (ICO) reported data showing that global coffee exports in August increased by 6.5% year-on-year to 10.92 million bags. Overall, in the first 11 months of the 2023-2024 crop year (October 2023 to August 2024), global coffee exports increased by 9.9% year-on-year to 125.67 million bags.

According to I & M Smith, the Brazilian government reported preliminary data showing that green coffee exports in September increased by 36.79% compared to the same period last year, reaching a total of 4,050,950 bags. Of which, Brazil's Robusta coffee exports are expected to continue to record high growth, due to high global demand for this type of coffee, despite congestion at export ports.

According to consulting firm Hedgepoint, Brazil’s coffee output in the 2024/25 crop year is forecast to reach 63 million bags, down 3 million bags from the previous crop year. Vietnam’s coffee output is also estimated at around 27 million bags, lower than the previous forecast.

At the end of the 2023-2024 coffee crop year (October 2023 to September 2024), coffee exports from Vietnam, the world's largest producer and exporter of robusta coffee, reached a total of 24.3 million bags, down 12.26% over the same period last year.

This decline underscores the already anticipated reality of lower output and reduced supply in the 2023-24 crop year in Vietnam, which has been reflected in record high prices on the London futures market.

According to the latest estimate of the General Statistics Office, in September, Vietnam's coffee exports reached 52,464 tons, worth 287 million USD, down 31.2% in volume and 28.7% in value compared to the previous month, while increasing 3% and 70.1% in value compared to the same period last year.

In total, in the third quarter, coffee exports reached 214,935 tons, worth 1.12 billion USD, down 12.1% in volume but up 52.6% in value compared to the third quarter of 2023.

Accumulated in the first 9 months of 2024, the export of this item is estimated at 1.1 million tons, worth nearly 4.3 billion USD, down 11.5% in volume but up sharply 37.8% in value over the same period thanks to high prices.

The average export price of coffee in the first 9 months of the year reached 3,889 USD/ton, up 55.7% over the same period last year.

In September alone, the average export coffee price reached a new record high of 5,469 USD/ton, up 3.6% over the previous month and up 65.2% over the same period last year.

Coffee price list today 10/9/2024