Domestic and world prices both increased again

Update coffee prices today 11/6/2024, online coffee prices, Central Highlands coffee, Lam Dong coffee, Kon Tum coffee, green coffee, Arabica coffee 11/6/2024.

Today's coffee prices were updated at 4:30 a.m. on November 6, 2024 as follows, according to www.giacaphe.com, domestic coffee prices today 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.

Coffee prices today November 6, 2024: Domestic and world prices simultaneously increase again

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.

Coffee prices continued to rise on both derivatives exchanges due to concerns that unusual drought in Brazil will limit the country's coffee production.

On Monday (November 4), 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.

On both exchanges, the decrease in short positions last week was also a factor helping coffee to rise. According to the assessment of the Vietnam Coffee and Cocoa Association (Vicofa), the 2024-2025 coffee crop has begun to enter the harvest season, the country's output is expected to be about 1.47 million tons, a sharp decrease compared to the previous crop due to unfavorable weather, but the price will be much better than previous years.

According to experts, Vietnamese coffee prices in the 2024-2025 crop year will continue to remain high due to reduced output, while inventories in the 2023-2024 crop year are not much left.

World coffee prices in the early morning of November 6, 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 6, 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 6, 2024 at 4:30 a.m. increased to 4,171 - 4,372 USD/ton. Specifically, the delivery period for January 2025 was 4,372 USD/ton (up 54 USD/ton); the delivery period for March 2025 was 4,303 USD/ton (up 54 USD/ton); the delivery period for May 2025 was 4,244 USD/ton (up 47 USD/ton) and the delivery period for July 2025 was 4,171 USD/ton (up 46 USD/ton).

Arabica coffee prices on the New York floor on November 6, 2024. (Photo: Screenshot of giacaphe.com)

Arabica coffee prices on the New York floor on the morning of November 6, 2024 increased from 246.00 to 250.15 cents/lb. Specifically, the December 2024 delivery period is 250.15 cents/lb (up 1.71%); the March 2025 delivery period is 249.40 cents/lb (up 1.82%); the May 2025 delivery period is 248.15 cents/lb (up 1.78%) and the July 2025 delivery period is 246.00 cents/lb (up 4.30%).

Brazilian Arabica coffee price on November 6, 2024. (Photo: Screenshot of giacaphe.com)

The price of Brazilian Arabica coffee increased on the morning of 6/11/2024. Specifically, the delivery period for December 2024 is 305.55 USD/ton (up 0.43%); the delivery period for March 2025 is 304.75 USD/ton (up 0.33%); 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.

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

Vietnam currently ranks second in coffee production after Brazil and is in the top 5 agricultural product groups with the highest export turnover per year. In 2023, Vietnam exported about 1.61 million tons of coffee, earning 4.18 billion USD. In the first half of this year, coffee exports reached 1 million tons, earning nearly 2.4 billion USD. The Central Highlands, especially Gia Lai province, is one of the key coffee production localities in the country with outstanding area, output and value.

However, the coffee market is highly volatile and coffee prices change frequently. This has caused many challenges for farmers, buyers, processors, exporters, importers and retailers. Mr. Tran Van Binh, Director of Saigon Invest Commodity Trading Joint Stock Company, said that the establishment of a coffee exchange in Gia Lai province will bring many benefits. The exchange will be a place to trade coffee futures contracts, helping supply and demand meet and form prices. Coffee prices on the exchange are often considered the reference price for the market.

Coffee producers, exporters and importers can use the exchange to protect themselves against price fluctuations, by buying or selling futures contracts to lock in profits or mitigate the risk of losses. All transactions on the exchange are recorded and made public, increasing market transparency and reducing information asymmetry.

Coffee price list today 11/6/2024