Will it benefit from the rise in world coffee prices?

Experts predict that coffee prices on November 9, 2024 may be adjusted upward depending on the region and supply.

Experts say that with unfavorable weather conditions in major production areas and high demand from major markets, domestic coffee prices are likely to continue to benefit from the rise in international coffee prices.

Coffee price forecast for November 9, 2024: Continue to benefit from the rising momentum of world coffee prices

Recorded in the trading session on November 8, 2024, today's coffee price decreased by 1,000 VND/kg, ranging from 105,500-106,000 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 105,800 VND/kg, the highest purchase price in Dak Nong, Dak Lak , Gia Lai, Kon Tum provinces is 106,000 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 106,000 VND, down 1,000 VND/kg compared to yesterday, in Pleiku and La Grai the same price is 105,900 VND/kg; In Kon Tum province, the price is 106,000 VND/kg, down 1,000 VND/kg compared to yesterday; In Dak Nong province, coffee is purchased at the highest price of 106,000 VND/kg, down 1,000 VND/kg compared to yesterday.

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 105,500 VND/kg, down 1,000 VND/kg compared to yesterday.

Domestic coffee prices on November 8 in Dak Lak province; in Cu M'gar district, coffee was purchased at about 106,000 VND/kg, down 1,000 VND/kg compared to yesterday, and in Ea H'leo district, Buon Ho town, it was purchased at the same price of 106,900 VND/kg.

Updated world coffee prices at 20:00 on November 8, 2024, Vietnam time on the London exchange, the price of Robusta coffee futures contract for delivery in January 2025 on the London exchange was at 4,425 USD/ton, down 61 USD compared to the beginning of the trading session.

Coffee price today November 8, 2024: Robusta coffee price on the London floor. (Photo: Screenshot giacaphe.com

The March 2025 delivery term is 4,364 USD/ton, down 60 USD; the May 2025 delivery term is 4,310 USD/ton, down 55 USD and the July 2025 delivery term is 4,229 USD/ton, down 53 USD.

Arabica coffee prices on the New York floor on November 8, 2024. (Photo: Screenshot of giacaphe.com)

Of which, the price of Arabica coffee on the New York floor at 20:00 on November 8, 2024 decreased in all terms, fluctuating at 249.80 - 254.20 cents/lb.

Specifically, the December 2024 delivery period is 254.20 cents/lb; down 6.20 cents/lb compared to the beginning of the session. The March 2025 delivery period is 253.65 cents/lb, down 6.10 cents/lb; the May 2025 delivery period is 252.35 cents/lb, down 6 cents/lb and the July 2025 delivery period is 249.80 cents/lb, down 5.95 cents/lb.

Brazilian Arabica coffee price on November 8, 2024. (Photo: Screenshot of giacaphe.com)

The price of Brazilian Arabica coffee today at 9:00 p.m. on November 8, 2024 increased and decreased in opposite directions. Specifically, the delivery period for December 2024 is 311.10 USD/ton, down 1.88%; the delivery period for March 2025 is 311.15 USD/ton, down 1.72%; the delivery period for May 2025 is 317.55 USD/ton, up 5.10% and the delivery period for July 2025 is 314.00 USD/ton, up 4.95%.

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.

The end of the year is always the peak period for coffee consumption in many countries due to the demand for holidays and Tet. This puts pressure on supply, especially when major producing countries such as Brazil are reducing output due to adverse weather.

Low production in major producing countries: Unfavorable weather conditions in major coffee growing regions such as Brazil and Colombia have affected production, causing market concerns about global coffee supplies.

Information for reference only. Prices may vary by location.

Source: https://congthuong.vn/du-bao-gia-ca-phe-ngay-9112024-lieu-co-duoc-huong-loi-tu-da-tang-cua-gia-ca-phe-the-gioi-357729.html