Strong rebound, is the market peaking?

World coffee prices in the early morning of October 12, 2024, at 4:30 am were updated on the Vietnam Commodity Exchange MXV (world coffee prices are continuously updated by MXV, matching with world exchanges, the only channel in Vietnam that continuously updates and links with 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 12, 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 October 12, 2024 at 4:30 am was 4,426 - 4,826 tons. Specifically, the delivery period for November 2024 was 4,826 USD/ton, down 88 USD/ton; the delivery period for January 2025 was 4,680 USD/ton, down 62 USD/ton; the delivery period for March 2025 was 4,540 USD/ton, down 58 USD/ton and the delivery period for May 2025 was 4,426 USD/ton, down 49 USD/ton.

Arabica coffee price on the New York floor on October 12, 2024. (Photo: Screenshot giacaphe.com)

Arabica coffee prices on the New York floor on the morning of October 12, 2024, red dominated, at a decrease of 4.70 - 4.90 cents/lb. Specifically, the delivery period for December 2024 is 252.05 cents/lb, down 2.70%; the delivery period for March 2025 is 250.75 cents/lb, down 2.70%); the delivery period for May 2025 is 248.90 cents/lb (down 2.70%) and the delivery period for July 2025 is 246.25, down 2.90%.

Brazilian Arabica coffee price on October 12, 2024. (Photo: Screenshot giacaphe.com)

The price of Brazilian Arabica coffee on the morning of October 12, 2024 was covered in red. Specifically, the delivery period for December 2024 was 304.70 USD/ton, down 0.51%; the delivery period for March 2025 was 303.90 USD/ton (down 0.73%); the delivery period for May 2025 was 305.10 USD/ton, down 1.15% and the delivery period for July 2025 was 301.45 USD/ton, down 1.26%.

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 exchange, it will be open from 19:00 - 02:35 (next day), Vietnam time.

Coffee price today October 12, 2024: Strong increase again, is the market peaking?

Domestic coffee prices were updated at 4:30 a.m. on October 12, 2024 as follows: The domestic coffee market today increased slightly in some localities, with an average increase of 500 VND/kg, ranging from 113,300 - 114,100. Currently, the average purchase price in the Central Highlands provinces is 114,000 VND/kg, the highest purchase price in Dak Nong province is 114,100 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 114,000 VND, an increase of 500 VND/kg; in Pleiku and La Grai it is 113,900 VND/kg. In Kon Tum province, the price is 114,000 VND/kg, an increase of 500 VND/kg; In Dak Nong province, coffee is purchased at 114,100 VND/kg, an increase of 600 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 113,300 VND/kg, an increase of 500 VND/kg compared to yesterday.

Coffee prices today (October 12) in Dak Lak province; in Cu M'gar district, coffee is purchased at about 114,000 VND/kg, an increase of 500 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at 113,900 VND/kg.

Despite the rising price of raw coffee, experts say coffee has not yet become a luxury item. Mr. Nguyen Huu Long, Director of VCA, affirmed that coffee is still a profitable business with low costs.

The price of raw coffee is currently around 120,000 VND/kg, allowing the production of 50 to 100 cups of coffee. The production cost of each cup ranges from only 2,000 to 4,000 VND, while large coffee chains such as Highlands, Phuc Long, The Coffee House still maintain prices from 30,000 to 40,000 VND/cup.

However, experts recommend that coffee shops need to adjust their prices carefully to avoid losing customers due to price sensitivity.

Coffee prices are currently volatile and heavily influenced by speculators, making it difficult to predict prices. Businesses need to be cautious when buying and selling at high prices. Coffee prices are expected to remain high, above $4,000 per ton in the next five years.

Global coffee consumption habits are changing, with consumers increasingly favoring organic coffee for its health benefits. Manufacturers need to innovate their products to adapt to this trend.

Meanwhile, commodity markets have been less volatile recently due to tensions in the Middle East, with investors awaiting financial data from the US to assess the possibility of a second rate cut.

In the first nine months of the year, Vietnam exported 1.1 million tons of coffee, down 11.7% year-on-year. However, due to high prices, export turnover set a new record of 4.3 billion USD, up 37.8% year-on-year.

Thus, Vietnam has great opportunities to increase the value of coffee exports, but also needs to make efforts to apply sustainable farming methods to ensure long-term growth momentum.

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

Source: https://congthuong.vn/gia-ca-phe-hom-nay-12102024-tang-manh-tro-lai-thi-truong-dang-dat-dinh-351876.html