Vietnam's Robusta Coffee Output to Fall 1% in 2024/25 Season

Coffee prices are forecast to decrease slightly in the domestic market on September 23, 2024. According to the Vietnam Coffee and Cocoa Association (VICOFA), Vietnam's coffee exports in the first half of September reached 17,305 tons, bringing in more than 87 million USD, down about 18% in volume but up about 55.1% in value compared to the same period last year.

The export price of Robusta coffee was first recorded to be higher than that of Arabica coffee in May with a gap of 32 USD/ton (Robusta coffee beans at 3,920 USD/ton and Arabica coffee at 3,888 USD/ton) and then the gap widened as the price increase of Robusta coffee was stronger.

Domestic coffee prices were updated at 4:30 a.m. on September 23, 2024 as follows: The domestic coffee market today is stable at around 119,500 - 120,000. Currently, the average purchase price in the Central Highlands provinces is 119,800 VND/kg, the highest purchase price in Dak Nong, Dak Lak , Kon Tum, Gia Lai provinces is 120,000 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 120,000 VND, unchanged from yesterday, in Pleiku and La Grai the price is 119,900 VND/kg. In Kon Tum province, the price is 120,000 VND/kg, unchanged from yesterday; In Dak Nong province, coffee is purchased at 120,000 VND/kg, unchanged from 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 119,500 VND/kg, stable compared to yesterday.

Coffee prices today (September 23) in Dak Lak province; in Cu M'gar district, coffee is purchased at about 120,000 VND/kg, slowing down following the general trend, while in Ea H'leo district, Buon Ho town, it is purchased at 119,900 VND/kg.

Updated world coffee prices at 9:00 p.m. on September 23, 2024, Vietnam time on the London exchange, the price of Robusta coffee futures contract for September 2024 delivery on the London exchange was at 5,209 USD/ton, up 150 USD compared to the beginning of the trading session.

Coffee price today September 23, 2024: Robusta coffee price on London floor. (Photo: Screenshot giacaphe.com

The November 2024 delivery term is 4,944 USD/ton, up 141 USD; the January 2025 delivery term is 4,752 USD/ton, up 138 USD and the March 2025 delivery term is 4,636 USD/ton, up 151 USD.

Coffee price today September 23, 2024: New York Arabica coffee price. (Photo: Screenshot giacaphe.com)

In particular, the price of Arabica coffee on the New York floor today at 9:00 p.m. on September 23, 2024 increased in all terms, fluctuating at 253.50 - 261.25 cents/lb.

Specifically, the December 2024 delivery period is 261.25 cents/lb; up 10.50 cents/lb compared to the beginning of the session. The March 2025 delivery period is 258.95 cents/lb, up 10.30 cents/lb; the May 2025 delivery period is 256.50 cents/lb, up 10.05 cents/lb and the July 2025 delivery period is 253.50 cents/lb, up 9.70 cents/lb.

Coffee price today September 23, 2024: Brazilian Arabica coffee price. (Photo: Screenshot giacaphe.com)

The price of Brazilian Arabica coffee today at 9:00 p.m. on September 23, 2024 increased and decreased in opposite directions. Specifically, the delivery period for September 2024 is 311.00 USD/ton, up 2.37%; the delivery period for December 2024 is 310.50 USD/ton, up 2.88%; the delivery period for March 2025 is 301.75 USD/ton, down 4.58% and the delivery period for May 2025 is 298.30 USD/ton, down 4.57%.

Robusta coffee traded on the ICE Futures Europe (London exchange) opens at 16:00 and closes at 00:30 (next day), Vietnam time.

Coffee Price Forecast 9/24: Vietnam's Robusta Coffee Output to Decrease 1% in 2024/25 Crop

Arabica coffee on the ICE Futures US floor (New York floor) opens at 16:15 and closes at 01:30 (next day), Vietnam time.

There have been some showers in Brazil’s coffee belt, with more forecast in the coming period, which is a major reason for the decline in coffee prices on both exchanges. GFS forecasts rains in Brazil’s southern Minas Gerais region this month and early October.

Brazil's 2024 coffee crop is down 0.5% from last year's level and much lower than forecast in May, food agency Conab said.

USDA forecasts Vietnam’s Robusta coffee output to decline by 1% in the 2024/25 crop year to 27.85 million 60kg bags and down about 9% from the 2021/22 crop year. This reflects a long-term downward trend in production while global demand continues to increase.

In Indonesia, which supplies about 10% of the world’s Robusta output, rising domestic demand is also squeezing exports. The country’s coffee exports are expected to remain around 250,000 tonnes.

Volcafe, one of the major coffee traders, also forecasts a severe global Robusta supply shortage in 2024-2025, marking the fourth consecutive year of this situation.

Vietnam accounts for about 30% of the global supply of Robusta, a type of coffee used primarily for instant drinks and espresso blends. But drought, followed by weeks of heavy rain, has severely affected many growing regions just ahead of the harvest that was due to begin in October.

*Information is for reference only, prices may vary depending on region and locality.

Source: https://congthuong.vn/du-bao-gia-ca-phe-249-san-luong-ca-phe-robusta-viet-nam-se-giam-1-trong-mua-vu-202425-347853.html