Today's coffee price 1/11 increased slightly in the range of 108.800-109.200 copper, experts predict that the coffee price 2/11 will decrease due to increased supply from Brazil.
Experts predict that the price of November 2, 2024 coffee in the domestic market will tend to decrease slightly due to increased supply from Brazil thanks to favorable weather conditions.
Recorded in the trading session on November 1, 2024, domestic coffee prices today increased by 600 VND/kg, ranging from 108.800-109.200 VND/kg. Currently, the average buying price in the Central Highlands provinces is 109.100 VND/kg, the highest buying price in the province Dak Nong, Dak Lak 109.200 VND/kg.
Specifically, the coffee purchase price in the province Gia Lai (Chu Prong) is 109.100 VND, an increase of 600 VND/kg compared to yesterday, in Pleiku and La Grai the same price is 109.000 VND/kg; In the province Kon Tum at the price of 109.100 VND/kg, an increase of 600 VND/kg compared to yesterday; In Dak Nong province, coffee was purchased at the highest price of 109.200 VND/kg, an increase of 600 VND/kg compared to yesterday.
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| November 2, 2024 Coffee Price Forecast: Continues to Fall Sharply Due to Increased Supply from Brazil |
Price of green coffee beans (coffee beans, fresh coffee beans) in the province Lam Dong In districts such as Bao Loc, Di Linh, Lam Ha, it was purchased at 108.800 VND/kg, an increase of 600 VND/kg compared to yesterday.
Coffee price today (date 1/11) in Dak Lak province; in which in Cu M'gar district, coffee is purchased at about 109.200 VND/kg, up 600 VND/kg, while in Ea H'leo district, Buon Ho town, coffee is purchased at the same price 109.100 VND/kg.
Coffee price update world At 20:00 on November 1, 2024 Vietnam time on the London exchange, the price of Robusta coffee futures contract for monthly delivery November 2024 on the London exchange was at 4.490 USD/ton, down 79 USD compared to the beginning of the trading session.
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| Coffee price today November 1, 2024: Robusta coffee price on London floor. (Photo: Screenshot giacaphe.com |
The monthly delivery term January 2025 is 4.222 USD/ton, down 59 USD; the monthly delivery term March 2025 is 4.167 USD/ton, down 49 USD and the monthly delivery term May 2025 is 4.092 USD/ton, down 53 USD.
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| Arabica coffee price on New York floor on November 1, 2024. (Photo: Screenshot of giacaphe.com) |
In particular, the price of Arabica coffee on the New York floor today at 20:00 on November 1, 2024 decreased in all terms, fluctuating at 238.75 - 242.50 cents/lb.
Specifically, the monthly delivery term December 2024 is 242.50 cents/lb; down 3.40 cents/lb compared to the beginning of the session. The monthly delivery term March 2025 is 242.05 cents/lb, down 3.45 cents/lb; the monthly delivery term May 2025 is 241.00 cents/lb, down 3.45 cents/lb and the monthly delivery term July 2025 is 238.75 cents/lb, down 3.40 cents/lb.
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| Brazilian Arabica coffee price on November 1, 2024.(Photo: Screenshot of giacaphe.com) |
Brazilian Arabica coffee prices today at 21:00 on November 1, 2024 decreased. Specifically, the monthly delivery term December 2024 was 296.30 USD/ton, down 0.80%; the monthly delivery term March 2025 was 295.90 USD/ton, down 0.92%; the monthly delivery term May 2025 was 299.15 USD/ton, down 1.47% and the monthly delivery term July 2025 was 296.00 USD/ton, down 1.38%.
Robusta coffee traded on ICE Futures Europe (London floor) opens at 16:00 and closes at 00:30 (the next day), Vietnam time.
Arabica coffee on the ICE Futures US floor (New York floor) opens at 16:15 p.m. and closes at 01:30 a.m. (the next day), Vietnam time.
Coffee prices have been fluctuating continuously over the past few days, with increases and decreases alternating. One of the reasons is that recently, Brazil has increased its exports of Robusta coffee to take advantage of the high prices.
Brazil's coffee exports in the first two months of the 2-2024 crop year (July and August) reached 2025 tons, up nearly 7% and the turnover reached nearly 8 billion USD, up 451.000% over the same period last crop. Of which, Robusta coffee exports reached nearly 12 tons, up 1,9%; Arabica was 39 tons, up 110.000% and the rest was instant coffee, according to the International Coffee Organization (ICO).
Coffee supplies are gradually recovering after two consecutive years of record shortages. The International Coffee Organization (ICO) forecasts world coffee production in the 2-2023 crop year to reach 2024 million tons, up 10,68% from the previous crop year. Of which, Arabica coffee output will increase by 5,8% to 8,8 million tons; while Robusta coffee will increase by only 6,13% to 2,1 million tons. In contrast, coffee consumption in the 4,53-2023 crop year will also increase by 2024% to 2,2 million tons.
According to forecasts from industry experts and the Cocoa Coffee Association (Vicofa), in the current context both domestically and internationally, coffee prices will certainly continue to decrease in the short term. This is considered normal because when the market fluctuates, prices will decrease accordingly.
Currently, Vietnamese coffee has been exported to over 80 countries and territories. Of which, Europe accounts for about 48% of the market share, Asia 21%, and America 6%.
Information for reference only. Prices may vary depending on locality.
Sources: https://congthuong.vn/du-bao-gia-ca-phe-ngay-2112024-tiep-da-giam-manh-do-nguon-cung-tu-brazil-duoc-tang-cuong-356237.html
