Coffee prices increase rapidly again, will export prices be good? The 9th Buon Ma Thuot Coffee Festival kicks off

Coffee is one of the commodities with the strongest price increase, in particular, the average export price in September 2024 reached 5,469 USD/ton, the highest ever. In the first 9 months of the year, the average price per ton of exported coffee was 3,897 USD, an increase of 56% over the same period last year.

Coffee price today 10/11/2024

World coffee prices continued to recover, increasing for two consecutive sessions. Robusta ended its decline and recovered from its lowest level in a month. Arabica coffee prices increased sharply.

Domestic coffee prices today, October 11, ranged from 113,300 to 114,100 VND/kg. The market remains quiet as traders await supply from the new harvest season.

The US dollar fell slightly after the recent US economic data released, supporting the price increase of commodities, including coffee. The US labor market is going down with the number of unemployment claims increasing, consumer prices are rising slightly, paving the way for the US Federal Reserve (Fed) to possibly continue to cut interest rates.

Commodity markets, including coffee, have just experienced a quiet trading session, as geopolitical tensions in the Middle East continue to affect investor sentiment. In addition, for coffee, forecasts of rain in Brazil have helped ease concerns about drought, limiting price increases. Maxar Technologies reported earlier this week that major coffee growing regions in Brazil will receive heavy rains this week and next, improving humidity and crop conditions, adding hope for new crop yields.

Thus, coffee prices on both exchanges continue to increase, ahead of the new harvest of Vietnamese farmers. Fresh coffee prices at the beginning of this year's crop reached a record high in recent years, while domestic output is expected to decrease sharply in the 2024-2025 crop year, to the lowest level in the past 13 years, mainly due to unfavorable weather and the El Nino phenomenon causing drought and pests.

Analysts believe that the current situation could increase coffee prices in the long term, and that new crop coffee exports will be profitable. Many believe that with the current trend of scarce supply, coffee prices will soon return to the $5,000/ton mark.

Domestic coffee prices today, October 11, increased by 500 VND/kg in some key purchasing localities. (Source: Pinterest)

According to World & Vietnam , at the end of the trading session on October 10, the price of robusta coffee on the ICE Futures Europe London exchange increased for the second session, the November 2024 delivery period increased by 49 USD, trading at 4,914 USD/ton. The January 2025 delivery period increased by 41 USD, trading at 4,742 USD/ton. Trading volume was low.

Arabica coffee prices on the ICE Futures US New York exchange continued to increase, with the December 2024 delivery term up 4.70 cents, trading at 254.75 cents/lb. Meanwhile, the March 2025 delivery term increased 4.65 cents, trading at 253.45 cents/lb. Average trading volume.

Domestic coffee prices today, October 11, increased by 500 VND/kg in some key purchasing localities. Unit: VND/kg

Average price	Medium
USD/VND exchange rate	24,640	+ 5
DAK LAK	114,000	+ 500
LAM DONG	113,300	+ 500
GIA LAI	114,000	+ 500
DAK NONG	114,100	+ 500

(Source: giacaphe.com)

The Dak Lak Provincial People's Committee has planned for the 9th Buon Ma Thuot Coffee Festival in 2025. The program is expected to take place from March 9-13, 2025 on the occasion of the 50th anniversary of Buon Ma Thuot Victory Day, Dak Lak (March 10, 1975 - March 10, 2025).

Notable events within the framework of the Festival include: Opening Ceremony, Closing Ceremony, Digital Content Creation Contest to promote the Coffee Festival on the Internet; Specialized Fair for Coffee and OCOP Products; Specialty Coffee Roasting Competition; International Trade Conference - Connecting and Elevating Vietnamese Coffee.

Activities registered and implemented by enterprises include: Street Festival; Farmers' Competition; Light Festival; Rock Band Festival; Coffee Camp; Free Coffee; International Off-Road Car Racing Competition "Challenge of the Great Forest - Buon Don 2025"; Travel Itinerary: Buon Don Elephant Festival, Lak District Dugout Canoe Racing Festival...

During the festival, there will also be tourism itineraries such as: "Coffee Journey", "Heritage Journey"; eco-tours, cultural tours, adventure tours, experiencing community tourism products in villages... Besides, localities will also register cultural, sports and tourism activities to respond to the Festival.

The Buon Ma Thuot Coffee Festival aims to arouse pride, encourage and motivate the spirit of the ethnic people to strive to build a rich, civilized and unique Dak Lak province; continue to promote the Buon Ma Thuot Coffee brand, develop Vietnamese specialty coffee and build the image of Buon Ma Thuot city as the "Coffee City of the World".

Honoring coffee growers, processors and traders; encouraging the community to join hands in fostering the development of coffee culture in Dak Lak province in particular, Vietnam in general; introducing the image, potential and tourism strengths of the province; promoting investment in the field of coffee processing and agricultural products in the area.

Introduce and promote traditional and unique cultures of ethnic groups, especially the Central Highlands Gong Cultural Space, a “Representative Intangible Cultural Heritage of Humanity”; attract domestic and foreign tourists to Dak Lak…

Source: https://baoquocte.vn/gia-ca-phe-hom-nay-11102024-gia-ca-phe-tang-nhanh-tro-lai-xuat-khau-se-duoc-gia-khoi-dong-le-hoi-ca-phe-buon-ma-thuot-lan-thu-9-289638.html