Market has special developments

World coffee prices in the early morning of October 2, 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 2, 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 2, 2024 at 4:30 a.m. was 4,777 - 5,445 tons. Specifically, the delivery period for November 2024 was 5,445 USD/ton, down 53 USD/ton; the delivery period for January 2025 was 5,179 USD/ton, down 46 USD/ton; the delivery period for March 2025 was 4,945 USD/ton, down 50 USD/ton and the delivery period for May 2025 was 4,777 USD/ton, down 48 USD/ton.

Coffee price today October 2, 2024: New York Arabica coffee price. (Photo: Screenshot giacaphe.com)

Arabica coffee prices on the New York floor on the morning of October 2, 2024, red dominated, with a decrease of 5.20 - 6.10 cents/lb. Specifically, the December 2024 delivery period was 264.15 cents/lb, down 2.26%; the March 2025 delivery period was 262.15 cents/lb, down 2.16%); the May 2025 delivery period was 259.80 cents/lb (down 2.05%) and the July 2025 delivery period was 257.00, down 1.98%.

Coffee price today October 2, 2024: Brazilian Arabica coffee price. (Photo: Screenshot giacaphe.com)

The price of Brazilian Arabica coffee on the morning of October 2, 2024 increased and decreased in different directions. Specifically, the delivery period for December 2024 was 317.50 USD/ton, up 0.80%; the delivery period for March 2025 was 316.00 USD/ton (up 0.60%); the delivery period for May 2025 was 319.45 USD/ton, down 2.20% and the delivery period for July 2025 was 315.70 USD/ton, down 2.14%.

Coffee price today October 2, 2024: Why is the market cooling down?

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 2, 2024 as follows: The domestic coffee market today increased slightly by 100 VND/kg, ranging from 121,000 - 122,100. Currently, the average purchase price in the Central Highlands provinces is from 121,000 - 122,000 VND/kg, the highest purchase price in Dak Lak province is 122,100 VND/kg , reflecting a small difference in demand in different regions.

In Lam Dong province, coffee prices are purchased at a relatively uniform level, fluctuating around 121,100 VND/kg in Di Linh, Lam Ha and Bao Loc districts.

In Dak Lak province, the coffee price difference is more obvious. Cu M'gar district recorded the highest price at 122,100 VND/kg, while Ea H'leo and Buon Ho districts had the same price of 122,000 VND/kg. This may be due to the higher quality of coffee in Cu M'gar, or because the purchasing demand in this area is stronger.

In Dak Nong province, coffee prices also have a small difference between Gia Nghia and Dak R'lap districts, respectively 121,200 VND/kg and 121,100 VND/kg.

Gia Lai province recorded relatively lower coffee prices compared to other provinces, at VND121,000/kg in Chu Prong district and VND120,900/kg in Pleiku and La Grai districts.

Finally, Kon Tum province has a coffee purchase price of 121,000 VND/kg, equivalent to the price in some districts of Gia Lai.

The difference in coffee prices between provinces and districts can be explained by many factors such as coffee quality, purchasing demand, transportation costs, and other market-related factors.

However, overall, the coffee market today remains stable, with prices fluctuating slightly, reflecting the balance between supply and demand.

The Central Highlands is entering the coffee harvest season, marking the beginning of the third quarter of the year. This year, prolonged drought has created unprecedented challenges for coffee growers. Coffee output is forecast to decrease by 10-15% compared to last year, as drought causes coffee berries and beans to become smaller, directly affecting harvest yield.

However, the coffee market is witnessing an unexpected phenomenon. Coffee prices are currently at a record high of VND120,000/ton, three times higher than the average. This is a positive signal for coffee growers, helping them feel secure in investing and maintaining long-term production. Although output has decreased, high prices have helped to offset some of the damage caused by drought, ensuring income for people.

In Lam Dong and Dak Lak, the coffee harvest season has begun earlier than expected. Although production has been affected by drought, high coffee prices have helped growers earn better incomes than last year. Coffee farmers here share that despite lower production, they are still able to earn the same or even higher profits than last year.

It is expected that from the end of October 2024, when Vietnam enters the official harvest season, coffee output will increase again. With current coffee prices, Vietnam's coffee export industry promises to reach 6 billion USD, an impressive figure, contributing to the country's economic growth.

Coffee price list today 10/2/2024

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

Source: https://congthuong.vn/gia-ca-phe-hom-nay-2102024-thi-truong-co-dien-bien-dac-biet-349635.html