Domestic coffee prices, updated at 4:30 AM on August 3, 2024, according to www.giacaphe.com, have slightly decreased by 400-500 VND compared to yesterday, ranging from 122,600 to 123,000 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 122,800 VND/kg, with the highest purchase price in Dak Nong and Dak Lak provinces at 123,000 VND/kg.
Specifically, the purchase price of coffee in Gia Lai province (Chu Prong) is 122,900 VND, a decrease of 500 VND/kg; in Pleiku and La Grai, the price is 122,800 VND/kg; in Kon Tum province, coffee is purchased at 122,900 VND/kg, a decrease of 500 VND/kg; and in Dak Nong province, coffee is purchased at a maximum price of 123,000 VND/kg, a decrease of 500 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 122,600 VND/kg, a decrease of 400 VND/kg.
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| Coffee prices today, August 3, 2024: Domestic prices slightly decreased, while global prices rose across the board. |
Coffee prices in Dak Lak province today, August 3rd, decreased slightly by 400 VND/kg compared to yesterday; in Cu M'gar district, coffee was purchased at approximately 123,000 VND/kg, while in Ea H'leo district and Buon Ho town, it was purchased at the same rate of 122,900 VND/kg.
Coffee price list today, August 3, 2024
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World coffee prices at 4:30 AM on August 3, 2024, were updated on the Vietnam Commodity Exchange (MXV).
Today's online coffee prices from the three main coffee futures exchanges, ICE Futures Europe, ICE Futures US, and B3 Brazil, are updated on www.giacaphe.com as follows:
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| Coffee prices today, August 3, 2024: Robusta coffee prices on the London exchange. (Image: Screenshot from giacaphe.com) |
At the close of trading on August 3, 2024, at 4:30 PM, Robusta coffee prices on the London exchange rose to between $3,822 and $4,227 per ton. Specifically, the September 2024 delivery contract was $4,227 per ton (up $2 per ton); the November 2024 delivery contract was $4,088 per ton (up $5 per ton); the January 2025 delivery contract was $3,947 per ton (up $6 per ton); and the March 2025 delivery contract was $3,822 per ton (up $8 per ton).
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| Coffee prices today, August 3, 2024: New York Arabica coffee prices (Image: Screenshot from giacaphe.com) |
Arabica coffee prices on the New York exchange on the morning of August 3, 2024, increased from 224.80 to 229.15 cents/lb. Specifically, the September 2024 delivery contract was 229.15 cents/lb (up 0.84%); the December 2024 contract was 228.20 cents/lb (up 0.80%); the March 2025 contract was 226.70 cents/lb (up 0.60%); and the May 2025 contract was 224.80 cents/lb, up 0.60%.
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| Coffee prices today, August 3, 2024: Brazilian Arabica coffee prices. (Image: Screenshot from giacaphe.com) |
Brazilian Arabica coffee prices rose slightly on the morning of August 3, 2024. Specifically, the September 2024 delivery contract was $289.00/ton (up 1.31%); the December 2024 contract was $283.00/ton (up 1.04%); the March 2025 contract was $276.85/ton (up 0.65%); and the May 2025 contract was $275.35/ton (up 1.46%).
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.
The market is under pressure from increased supply of Arabica and Robusta coffee in Brazil, where the harvest is nearing its end. Brokerage firm Hedgepoint Global Markets said Indonesia is also supplying more Robusta coffee to the market as its harvest is in full swing. However, a decline in Vietnamese Robusta exports continues to support prices.
According to the General Statistics Office, Vietnam's coffee exports in July 2024 reached 70,000 tons, a decrease of nearly 36% compared to July 2023. In the first seven months of 2024, Vietnam's coffee exports totaled 964,000 tons, earning $3.54 billion, a decrease of nearly 14% in volume but an increase of 31% in value compared to the same period last year. The high export value despite the decrease in volume is due to the consistently high coffee prices since the beginning of the year.
To meet export and domestic consumption needs, businesses are forced to import coffee from neighboring countries such as Indonesia, Laos, Thailand, Brazil, and Belgium. Domestic Arabica coffee is only grown in a few regions, so the quantity is limited, while this type is of high quality, thus requiring imports for consumption.
The coffee market had anticipated the Fed keeping interest rates unchanged, so there wasn't much disruption. At the conclusion of its two-day policy meeting (July 30-31), the US Federal Reserve (Fed) decided to keep its benchmark interest rate unchanged for the eighth consecutive time, but forecasts a possible adjustment in September.
This information is for reference only. Prices may vary depending on the time and location.
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