Domestic prices increased slightly; global coffee prices showed mixed trends of rise and fall.

Domestic coffee prices, updated at 4:30 AM on July 30, 2024, according to www.giacaphe.com, increased slightly by 100 VND compared to yesterday, ranging from 123,500 to 124,100 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 123,900 VND/kg, with the highest purchase price in Dak Nong province at 124,100 VND/kg.

Specifically, the purchase price of coffee in Gia Lai province (Chu Prong) is 123,800 VND/kg, while in Pleiku and La Grai it is 123,700 VND/kg; in Kon Tum province, coffee is purchased at 123,800 VND/kg; and in Dak Nong province, coffee is purchased at the highest price of 124,100 VND/kg.

Coffee prices today, July 30, 2024: Domestic prices increased slightly; world coffee prices showed mixed trends of rise and fall.

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 123,500 VND/kg.

Today, July 30th, coffee prices in Dak Lak province are as follows: in Cu M'gar district, coffee is being purchased at approximately 123,900 VND/kg, while in Ea H'leo district and Buon Ho town, it is being purchased at the same rate of 123,800 VND/kg.

Coffee prices in Vietnam have consistently remained at double the level of the same period last year, exceeding 120,000 VND/kg, and at times reaching 130,000 VND/kg due to supply shortages. Since April, coffee exports have been declining month by month. Specifically, exports in May decreased by 47%, in June by 11.5%, and in July by 50.4% compared to the previous month. Export volumes are projected to continue declining for another three months, until the start of the new harvest season in October and November.

World coffee prices at 4:30 AM on July 30, 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:

Coffee prices today, July 30, 2024: Robusta coffee prices on the London exchange. (Image: Screenshot from giacaphe.com)

At the close of trading on July 30, 2024, at 4:30 PM, Robusta coffee prices on the London exchange fluctuated between US$3,870 and US$4,275 per ton. Specifically, the September 2024 delivery contract was US$4,275 per ton (down US$27 per ton); the November 2024 delivery contract was US$4,130 per ton (down US$20 per ton); the January 2025 delivery contract was US$3,980 per ton (down US$4 per ton); and the March 2025 delivery contract was US$3,870 per ton (up US$21 per ton).

Coffee prices today, July 30, 2024: New York Arabica coffee prices (Image: Screenshot from giacaphe.com)

Arabica coffee prices on the New York exchange on the morning of July 30, 2024, increased from 226.90 to 230.40 cents/lb. Specifically, the September 2024 delivery contract was 230.40 cents/lb (up 0.07%); the December 2024 contract was 229.40 cents/lb (up 0.11%); the March 2025 contract was 228.60 cents/lb (up 0.31%); and the May 2025 contract was 226.25 cents/lb (up 0.27%).

Coffee prices today, July 30, 2024: Brazilian Arabica coffee prices. (Image: Screenshot from giacaphe.com)

Brazilian Arabica coffee prices on the morning of July 30, 2024 showed mixed movements. Specifically, the September 2024 delivery contract was $289.65/ton (up 0.56%); the December 2024 contract was $283.20/ton (up 0.34%); the March 2025 contract was $277.35/ton (down 1.98%); and the May 2025 contract was $274.30/ton (down 1.90%).

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.

Favorable weather conditions in Vietnam and Brazil have eased concerns about the upcoming coffee crop yield. However, in the long term, climate change is projected to cause a significant decline in the 2024/25 coffee crop.

As of July 23, 2024, Brazil's coffee harvest was 81% complete. Mexico's and Central America's export season is nearing its end, with tight supply.

Citi has revised down its crop yield forecasts for both Vietnam and Brazil this season. Currently, the global market is experiencing a surplus of 100,000 bags (60kg each) for the 2023/24 crop year. The average Arabica price is expected to be $2.45/lb in the third quarter, 10 US cents higher than previous forecasts.

Despite being the world's largest exporter of Robusta coffee, Vietnam's current coffee supply is dwindling, both in terms of individual farmers' holdings and corporate reserves.

Coffee is currently a key export item, accounting for over 82.5% of Gia Lai's total export turnover. Since the beginning of the year, coffee exports have been strongly supported by favorable prices. Increased global consumer demand in key markets such as the EU and the US has fueled a significant increase in coffee export turnover.

According to the USDA, global coffee production for the 2023/24 crop year, as of September 30th, is estimated at 169.2 million bags (60kg each), down 2.2 million bags from the previous forecast. Exports for the same period are also predicted to be only 119.5 million bags, a decrease of 0.4 million bags. Of this, Vietnam and Indonesia are down 2.6 million bags, Central America down 2.7 million bags, but Brazil is up 2 million bags. Ending stocks are estimated at approximately 23.9 million bags.

This information is for reference only. Prices may vary depending on the time and location.

Source: https://congthuong.vn/gia-ca-phe-hom-nay-3072024-trong-nuoc-tang-nhe-ca-phe-the-gioi-tang-giam-trai-chieu-335616.html