Domestic price increased to 2,700 VND/kg, coffee market has many positive signals

Update coffee prices today 11/9/2024, online coffee prices, Central Highlands coffee, Lam Dong coffee, Kon Tum coffee, green coffee, Arabica coffee 11/9/2024.

Today's coffee prices were updated at 4:30 a.m. on November 9, 2024 as follows, according to www.giacaphe.com, domestic coffee prices today increased by 2,500 - 2,700 VND/kg, ranging from 108,000 - 108,700 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 108,400 VND/kg, the highest purchase price in Dak Nong province is 108,700 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 108,500 VND, an increase of 2,500 VND/kg compared to yesterday, in Pleiku and La Grai the same price is 108,400 VND/kg; In Kon Tum province, the price is 108,500 VND/kg, an increase of 2,500 VND/kg compared to yesterday; In Dak Nong province, coffee is purchased at the highest price of 108,700 VND/kg, an increase of 2,700 VND/kg compared to yesterday.

Coffee price today November 9, 2024: Domestic price increased to 2,700 VND/kg, coffee market has many positive signals

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 108,000 VND/kg, an increase of 2,500 VND/kg compared to yesterday.

Domestic coffee prices (November 9) in Dak Lak province; in Cu M'gar district, coffee was purchased at about 108,500 VND/kg, an increase of 2,500 VND/kg compared to yesterday, and in Ea H'leo district, Buon Ho town, coffee was purchased at the same price of 108,400 VND/kg.

World coffee prices at dawn on November 9, 2024, at 4:30 am, were updated on the Vietnam Commodity Exchange MXV (the only channel in Vietnam that continuously updates and links to exchanges around the world).

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

Coffee price today November 9, 2024: Robusta coffee price on London floor. (Photo: Screenshot giacaphe.com

At the end of the trading session, the price of Robusta coffee on the London floor on November 9, 2024 at 4:30 a.m. increased to 4,183 - 4,376 USD/ton. Specifically, the delivery period for January 2025 was 4,376 USD/ton (down 110 USD/ton); the delivery period for March 2025 was 4,318 USD/ton (down 106 USD/ton); the delivery period for May 2025 was 4,263 USD/ton (down 102 USD/ton) and the delivery period for July 2025 was 4,183 USD/ton (down 99 USD/ton).

Arabica coffee prices on the New York floor on November 9, 2024. (Photo: Screenshot of giacaphe.com)

Arabica coffee prices on the New York floor on the morning of November 9, 2024 decreased, from 253.35 - 253.10 cents/lb. Specifically, the delivery period for December 2024 is 253.35 cents/lb (down 2.71%); the delivery period for March 2025 is 253.10 cents/lb (down 2.56%); the delivery period for May 2025 is 251.80 cents/lb (down 2.54%) and the delivery period for July 2025 is 249.30 cents/lb (down 2.52%).

Brazilian Arabica coffee price on November 9, 2024. (Photo: Screenshot of giacaphe.com)

The price of Brazilian Arabica coffee on the morning of November 9, 2024 increased and decreased in different directions. Specifically, the delivery period for December 2024 was 311.05 USD/ton (up 0.11%); the delivery period for March 2025 was 310.05 USD/ton (up 0.02%); the delivery period for May 2025 was 308.90 USD/ton (down 2.72%) and the delivery period for July 2025 was 305.45 USD/ton (down 2.72%).

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.

For Arabica coffee traded on the B3 Brazil floor, it will be open from 19:00 - 02:35 (next day), Vietnam time.

Arabica coffee prices were supported by concerns that unusually dry conditions in Brazil could affect the country's coffee output.

The meteorological agency Somar Meteorologia reported that rainfall in Brazil's largest Arabica coffee growing region, Minas Gerais, reached just 27.4 mm last week, equivalent to 64% of the historical average.

Meanwhile, Robusta coffee prices are rising as heavy rains in Vietnam could flood coffee farms.

Vietnam’s main coffee-producing region will see heavy rains through Friday, the National Center for Hydro-Meteorological Forecasting and the Central Highlands Hydro-Meteorological Station said on November 7. Vietnam, the world’s largest producer of Robusta, is entering the early stages of its coffee harvest.

According to Mr. Nguyen Huu Long, Director of Vietnam Coffee Academy Joint Stock Company, coffee prices are strongly affected by speculative factors, making them difficult to predict. However, speculators still have to rely on actual market demand to decide on investments.

Coffee is being harvested in the Central Highlands and the crop failure is quite evident. The lack of supply is still the main factor keeping coffee prices high, with a surplus in the coming period because Vietnamese farmers are very good at farming and can increase production very quickly in just a few crops. And if there is even a slight surplus of coffee, coffee prices will plummet as they have done before.

Coffee prices fell on Friday and more than halved Thursday’s sharp gains. Signs of a larger global coffee supply are weighing on prices, after the International Coffee Organization reported on Friday that global coffee exports in September rose 25% year-on-year to 10.76 million bags and exports from October to September rose 11.7% year-on-year to 137.2 million bags.

The US dollar turned down when the US Federal Reserve (Fed) announced its decision to cut interest rates by another 0.25%. Brazil is currently the world's largest coffee producer and exporter, with an average export share of 32% of the global market over the past five years. Brazil's domestic coffee consumption has also increased sharply, making Brazil the world's second largest coffee consumer after the US with about 22.5 million bags per year.

Coffee price list today 11/9/2024