Domestic coffee prices were updated at 4:30 a.m. on August 16, 2024 as follows, according to www.giacaphe.com, domestic coffee prices increased slightly by 300 - 400 VND/kg compared to yesterday, ranging from 116,900 - 117,600 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 117,200 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces is 117,600 VND/kg.
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| Coffee price today August 16, 2024: Reversal of increase in domestic and international markets after a sharp decline |
Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 117,500 VND, an increase of 400 VND/kg, in Pleiku and La Grai the same price is 117,100 VND/kg; in Kon Tum province, coffee is purchased at 117,500 VND/kg; in Dak Nong province, coffee is purchased at the highest price of 117,600 VND/kg.
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 116,900 VND/kg.
Coffee price today, August 16, in Dak Lak province was purchased at about 117,600 VND/kg; in Cu M'gar district, coffee was purchased at about 117,500 VND/kg, and in Ea H'leo district, Buon Ho town, it was purchased at the same price of 117,500 VND/kg.
Coffee price list today 8/16/2024
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World coffee prices at 4:30 a.m. on August 16, 2024 were updated on the MXV Vietnam Commodity Exchange trading floor.
Today's online coffee prices of the three main coffee futures exchanges ICE Futures Europe, ICE Futures US and B3 Brazil are updated by www.giacaphe.com as follows:
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| Coffee price today August 16, 2024: Robusta coffee price on London floor. (Photo: Screenshot giacaphe.com |
At the end of the trading session, the price of Robusta coffee on the London floor on August 16, 2024 at 4:30 a.m. increased to 4,042 - 4,571 USD/ton. Specifically, the delivery period for September 2024 was 4,571 USD/ton (up 99 USD/ton); the delivery period for November 2024 was 4,378 USD/ton, up 86 USD/ton); the delivery period for January 2025 was 4,204 USD/ton (up 73 USD/ton) and the delivery period for March 2025 was 4,042 USD/ton (up 59 USD/ton).
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| Coffee price today August 16, 2024: New York Arabica coffee price (Photo: Screenshot giacaphe.com |
Arabica coffee prices on the New York floor on the morning of August 16, 2024 increased from 233.45 - 239.90 ent/lb. Specifically, the September 2024 delivery period is 239.90 cents/lb (up 1.22%); the December 2024 delivery period is 238.05 cents/lb (up 1.45%); the March 2025 delivery period is 235.70 cents/lb (up 1.53%) and the May 2025 delivery period is 233.45 cents/lb, up 1.50%.
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| Coffee price today August 16, 2024: Brazilian Arabica coffee price. (Photo: Screenshot giacaphe.com) |
The price of Brazilian Arabica coffee on the morning of August 16, 2024 increased and decreased in opposite directions. Specifically, the delivery period for September 2024 was 297.75 USD/ton, down 0.42%; the delivery period for December 2024 was 291.15 USD/ton, down 0.12%; the delivery period for March 2025 was 288.75 USD/ton, up 165% and the delivery period for May 2025 was 284.60 USD/ton (up 1.62%).
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.
For Arabica coffee traded on the B3 Brazil floor, it will be open from 19:00 – 02:35 (next day), Vietnam time.
The Brazilian real's jump to a four-week high against the dollar prompted short selling on futures contracts, contributing significantly to the price rise.
In addition, the lingering news of the two coldest days since the beginning of the Brazilian winter has been used in the market to push prices higher.
Frosts can reduce coffee crop yields if they are severe, as they burn and defoliate leaves, reducing plant vigor. Brazil’s current crop is nearly finished, but any significant frosts would impact production potential for 2025.
The global coffee market is facing a critical juncture, with forecasts suggesting that coffee prices will remain high. The fundamental factors contributing to the high prices are believed to be supply constraints and changing consumer trends, particularly in Asia.
Some analysts predict that supermarket coffee prices will increase by as much as 30% by 2025. This increase is expected to be driven by a combination of supply shortages and growing demand, particularly in Asian markets that are embracing coffee culture. The resulting market dynamics are likely to lead to significant changes in both consumer behavior and retail pricing strategies.
The interaction of supply shortages and increased demand is creating a perfect storm for rising coffee prices.
The coffee market is still in a frame filled with instability from the weather of producing countries, global weather changes to geopolitical instability in recent times that have not seen any improvement. Therefore, any unfavorable information at this time will bring quite large fluctuations to the sensitive market.
Information for reference only. Prices may vary depending on time and location.
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