Continuing the decrease of 1,200 VND/kg, the whole month of October 2024 lost 14,000 VND/kg

Coffee prices today, November 3, 2024: World coffee prices continue to fall. Domestic prices have also decreased continuously, losing 14,000 VND/kg throughout October, reaching 106,000-106,500 VND/kg.

Today's coffee prices, updated at 4:30 AM on November 3, 2024, according to www.giacaphe.com, show a sharp decrease of 1,200-1,300 VND/kg in the domestic market, ranging from 106,000-106,500 VND/kg. The average purchase price in the Central Highlands provinces is currently 106,500 VND/kg, with the highest prices recorded in Dak Nong and Dak Lak provinces at 106,500 VND/kg.

Specifically, the purchase price of coffee in Gia Lai province (Chu Prong) is 106,400 VND/kg, a decrease of 1,200 VND/kg compared to yesterday; in Pleiku and La Grai, the price is 106,300 VND/kg; in Kon Tum province, the price is 106,400 VND/kg, a decrease of 1,200 VND/kg compared to yesterday; in Dak Nong province, coffee is purchased at the highest price of 106,500 VND/kg, a decrease of 1,200 VND/kg compared to yesterday.

Coffee prices today, November 3, 2024: Continuing their downward trend, falling by 1,200 VND/kg, the total loss for October 2024 is 14,000 VND/kg.

In Lam Dong province, in districts such as Bao Loc, Di Linh, and Lam Ha, the price of bulk green coffee beans (green coffee beans, fresh coffee beans) is being purchased at 106,000 VND/kg, a decrease of 1,300 VND/kg compared to yesterday.

Domestic coffee prices (November 3rd) in Dak Lak province: In Cu M'gar district, coffee was purchased at approximately 106,500 VND/kg, a decrease of 1,200 VND/kg, while in Ea H'leo district and Buon Ho town, it was purchased at the same rate of 107,600 VND/kg.

In summary, domestic coffee prices continued to fall this week, losing 14,000 VND/kg throughout October 2024, currently trading in the range of 106,000 – 106,500 VND/kg.

World coffee prices at 4:30 AM on November 31, 2024, were updated on the Vietnam Commodity Exchange (MXV) trading platform (the only channel in Vietnam that continuously updates prices linked to exchanges worldwide).

Today's online coffee prices from the three main futures exchanges, ICE Futures Europe, ICE Futures US, and B3 Brazil, are continuously updated by Y5Cafe throughout the trading hours and are also updated on www.giacaphe.com as follows:

Coffee prices today, November 3, 2024: Robusta coffee prices on the London exchange. (Image: Screenshot from giacaphe.com)

At the close of trading on November 3, 2024, at 4:30 PM, Robusta coffee prices on the London exchange fell to between $4,075 and $4,279 per ton. Specifically, the January 2025 delivery contract was $4,279 per ton (down $90 per ton); the March 2025 delivery contract was $4,208 per ton (down $73 per ton); the May 2025 delivery contract was $4,150 per ton (down $66 per ton); and the July 2025 delivery contract was $4,075 per ton (down $70 per ton).

Arabica coffee prices on the New York exchange on November 3, 2024. (Image: Screenshot from giacaphe.com)

Arabica coffee prices on the New York exchange fell on the morning of November 3, 2024, ranging from 239.20 to 242.95 cents/lb. Specifically, the December 2024 contract was 242.95 cents/lb (down 1.20%); the March 2025 contract was 242.40 cents/lb (down 1.26%); the May 2025 contract was 241.35 cents/lb (down 1.27%); and the July 2025 contract was 239.20 cents/lb (down 1.22%).

Brazilian Arabica coffee prices on November 3, 2024. (Image: Screenshot from giacaphe.com)

Brazilian Arabica coffee prices on the morning of November 3, 2024 showed mixed movements. Specifically, the December 2024 delivery contract was $297.30/ton (up 0.25%); the March 2025 contract was $295.55/ton (down 1.04%); the May 2025 contract was $295.05/ton (down 1.37%); and the July 2025 contract was $292.10/ton (down 1.32%).

Robusta coffee traded on the ICE Futures Europe exchange (London exchange) opens at 4:00 PM and closes at 12:30 AM (the next day), Vietnam time.

Arabica coffee on the ICE Futures US (New York exchange) opens at 4:15 PM and closes at 1:30 AM (the next day), Vietnam time.

For Arabica coffee traded on the B3 Brazil exchange, trading hours will be from 7:00 PM to 2:35 AM (the following day), Vietnam time.

Robusta coffee futures prices fell to their lowest level in two and a half months during Friday's trading session, with the harvest in Vietnam expected to accelerate this November.

Traders say strong exports of Conilon (Robusta) coffee from Brazil this season have also contributed to the upward pressure on prices.

Meanwhile, Arabica coffee prices also ended the session lower, with the main news still being that the level of recent rains will help Brazil's coffee crop recover after a prolonged drought.

According to cooperatives and agronomists, coffee-growing regions in Brazil experienced significant flowering in October following the return of the rains. Over the past four weeks, coffee prices have fallen by 5.06%.

According to meteorologist Climatempo, heavy rains are expected in the Minas Gerais region of Brazil starting this Saturday.

Another factor contributing to the sharp drop in coffee prices is the weakening of the Brazilian currency, with the Real falling to its lowest level in nearly three months against the US dollar.

Indonesian government trade data from Sumatra, Indonesia's leading coffee-producing island, reported its Robusta exports in September at 159,918 bags, or 76.36% higher than the same period last year. This contributed to the island's total Robusta coffee exports in the first six months of the 2024 crop year being 14.28% higher than the same period last year, totaling 1,268,499 bags.

The amount of graded, certified Arabica coffee held on the New York Stock Exchange increased by 2,505 bags on Thursday, reaching 852,058 bags.

The latest data shows that the US Personal Consumption Expenditures (PCE) price index rose 0.2% in September, increasing expectations of a second Fed interest rate cut this month. If the Fed does indeed implement the predicted and expected rate cuts, the US dollar will depreciate further against other currencies in the currency basket, giving coffee prices more momentum.

According to the Vietnam Coffee and Cocoa Association (VICOFA), in the 2023-2024 crop year, the average export price of Vietnamese coffee reached US$3,792 per ton. Among the 10 largest markets, five European countries all had import prices below US$4,000 per ton, while four Asian countries had prices above US$4,000 per ton.

Specifically, five European countries – Germany, Italy, Spain, Russia, and the Netherlands – all had import prices below $4,000 per ton. Germany led in import volume, with 179,000 tons worth $607 million, but the average price was only $3,392 per ton. Italy ranked second in import value but had the lowest unit price, at only $3,262 per ton. Meanwhile, Spain, with a price of $3,915 per ton, had the highest import price for Vietnamese coffee in Europe.

Conversely, Asian countries are becoming leading importers of Vietnamese coffee, with the Philippines having the highest average price at US$4,424/ton. Japan, ranking third in the world in terms of import volume, also has a higher average price than European countries, reaching US$3,866/ton. The main reason is that Europe mainly imports green coffee beans for processing, while Asian countries also import processed products and instant coffee, thereby increasing added value and resulting in higher average selling prices.

Coffee price list today, November 3, 2024