Experts predict that coffee prices on November 7, 2024 will likely continue to fluctuate within a narrow range due to pressure from supply and fluctuations in the international market.
The recovery of Robusta coffee prices on the London floor has partly supported domestic coffee prices, helping to prevent a sharp decline. However, the abundant coffee supply in Vietnam during the main harvest season still puts considerable pressure on coffee prices.
Vietnam’s robusta harvest could help ease price pressure, but the smaller output may not be enough to restore global coffee supplies in the long term. Vietnam’s coffee production this year (including Arabica and Robusta) is expected to be around 26-27 million bags, down from the USDA ’s May estimate of 29 million bags, as the impact of drought has yet to be fully assessed.
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| Coffee price forecast November 7, 2024: Continue the uptrend |
Recorded in the trading session on November 6, 2024, today's coffee price increased by 400 - 500 VND/kg, ranging from 105,900 - 106,400 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 106,300 VND/kg, the highest purchase price in Dak Nong , Dak Lak, Gia Lai, Kon Tum provinces is 106,400 VND/kg.
Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 106,400 VND, an increase of 500 VND/kg compared to yesterday, in Pleiku and La Grai the same price is 106,300 VND/kg; In Kon Tum province, the price is 106,400 VND/kg, an increase of 500 VND/kg compared to yesterday; In Dak Nong province, coffee is purchased at the highest price of 106,400 VND/kg, an increase of 400 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 105,900 VND/kg, an increase of 400 VND/kg compared to yesterday.
Domestic coffee prices (November 6) in Dak Lak province; in Cu M'gar district, coffee was purchased at about 106,400 VND/kg, an increase of 400 VND/kg compared to yesterday, and in Ea H'leo district, Buon Ho town, coffee was purchased at the same price of 106,300 VND/kg.
Updated world coffee prices at 20:00 on November 6, 2024, Vietnam time on the London exchange, the price of Robusta coffee futures contract for delivery in January 2025 on the London exchange was at 4,267 USD/ton, down 105 USD compared to the beginning of the trading session.
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| Coffee price today November 6, 2024: Robusta coffee price on London floor. (Photo: Screenshot giacaphe.com |
The March 2025 delivery term is 4,205 USD/ton, down 98 USD; the May 2025 delivery term is 4,146 USD/ton, down 98 USD and the May 2025 delivery term is 4,074 USD/ton, down 97 USD.
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| Arabica coffee prices on the New York floor on November 6, 2024. (Photo: Screenshot of giacaphe.com) |
Of which, the price of Arabica coffee on the New York floor at 20:00 on November 6, 2024 decreased in all terms, fluctuating at 241.20 - 245.20 cents/lb.
Specifically, the December 2024 delivery period is 245.20 cents/lb; down 4.95 cents/lb compared to the beginning of the session. The March 2025 delivery period is 244.60 cents/lb, down 4.80 cents/lb; the May 2025 delivery period is 243.30 cents/lb, down 1.95 cents/lb and the July 2025 delivery period is 241.20 cents/lb, down 4.80 cents/lb.
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| Brazilian Arabica coffee price on November 6, 2024. (Photo: Screenshot of giacaphe.com) |
The price of Brazilian Arabica coffee today at 9:00 p.m. on November 6, 2024 increased and decreased in opposite directions. Specifically, the delivery period for December 2024 is 300.00 USD/ton, down 1.40%; the delivery period for March 2025 is 299.50 USD/ton, down 1.40%; the delivery period for May 2025 is 304.05 USD/ton, up 1.93% and the delivery period for July 2025 is 301.10 USD/ton, up 1.93%.
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.
Rains in key coffee-producing regions in October facilitated flowering, raising producers’ expectations for the 2025-2026 crop, the Brazilian Agricultural Research Agency (CEPEA) said. However, concerns about crop development remain uncertain, given that coffee plants have been affected by high temperatures and a lack of rain for nearly six months in some areas.
The 2023-24 crop failure, high prices and low yields have led to a high rate of sales this year, leaving inventories tight, raising concerns about coffee supplies until Brazil’s next crop.
Information for reference only. Prices may vary by location.
Source: https://congthuong.vn/du-bao-gia-ca-phe-ngay-7112024-tiep-tuc-xu-huong-tang-357224.html
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