World coffee prices in the early morning of July 14, 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:
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| Coffee price today July 14, 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 July 14, 2024 at 4:30 a.m. increased to 4,079-4,617 USD/ton. Specifically, the delivery period for September 2024 is 4,617 USD/ton (up 41 USD/ton); the delivery period for November 2024 is 4,441 USD/ton (up 444 USD/ton); the delivery period for January 2025 is 4,250 USD/ton (up 48 USD/ton) and the delivery period for March 2025 is 4,079 USD/ton (up 35 USD/ton).
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| Coffee price today July 14, 2024: New York Arabica coffee price (Photo: Screenshot giacaphe.com |
Arabica coffee prices on the New York floor on the morning of July 14, 2024 increased from 241.70 - 248.75 cents/lb. Specifically, the September 2024 delivery period is 248.75 cents/lb (up 1.59%); the December 2024 delivery period is 246.80 cents/lb (up 1.71%); the March 2025 delivery period is 244.55 cents/lb (up 1.83%) and the May 2025 delivery period is 241.70 cents/lb (up 1.92%).
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| Coffee price today July 14, 2024: Brazilian Arabica coffee price. (Photo: Screenshot giacaphe.com) |
The price of Brazilian Arabica coffee increased on the morning of July 14, 2024. Specifically, the delivery period for July 2024 is 315.75 USD/ton (up 1.58%); the delivery period for September 2024 is 305.00 USD/ton (up 0.76%); the delivery period for December 2024 is 301.80 USD/ton (up 1.70%) and the delivery period for March 2025 is 299.35 USD/ton (up 1.98%).
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.
Domestic coffee prices were updated at 4:30 a.m. on July 14, 2024 as follows, according to www.giacaphe.com, domestic coffee prices increased slightly by 400 - 500 VND/kg, ranging from 127,900 - 128,600 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 128,500 VND/kg, the highest purchase price in Dak Nong province is 128,600 VND/kg.
Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 128,500 VND, in Pleiku and La Grai the same price is 128,400 VND/kg; In Kon Tum province the price is 128,500 VND/kg; In Dak Nong province the coffee is purchased at the highest price of 128,600 VND/kg.
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 127,900 VND/kg.
Coffee prices today, July 14, in Dak Lak province; in Cu M'gar district, coffee is purchased at about 128,500 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at the same price of 128,400 VND/kg.
As expected, coffee prices continued to increase in the last session of the week, bringing the price of Robusta coffee futures for September to 4,617 USD/ton, surpassing the historical price at the end of April.
In financial markets, the US dollar fell in the last trading session as investors turned their attention to the US Federal Reserve's interest rate cut. The consumer price index (CPI) report released on July 11 was lower than expected, which increased bets that the Fed will cut interest rates in September.
In terms of supply, the market is currently dependent on the Brazilian crop, which is currently in harvest, but there is information from within Brazil that the harvest is currently in progress, possibly lower than initially forecast; with the warning that this largest coffee producing country has enough financial capacity to hold back its stocks.
This week's price increase remains largely driven by concerns that drier-than-normal conditions could hurt coffee crops in Brazil and Vietnam, and nothing more has emerged.
According to estimates from the Import-Export Department (Ministry of Industry and Trade), the average export price of Vietnamese coffee reached 4,489 USD/ton in June 2024, up 5% compared to May 2024 and up 67.3% compared to June 2023.
In the first 6 months of 2024, the average export price of Vietnam's coffee is estimated at 3,570 USD/ton, an increase of 50.4% over the same period last year.
The supply of Robusta coffee, especially from Vietnam, is still tight at this time. The reason is that the harvest season has long passed, there is no inventory left, and businesses that have stored coffee are not selling it. Coffee output in Brazil, the world's largest producer, is expected to decrease by about 20% compared to the previous crop due to the impact of dry weather. In general, the shortage of supply has caused coffee prices to increase sharply.
In addition, Brazilian farmers are no longer interested in selling coffee to the market because the exchange rate difference between the Brazilian Real and the USD is too large.
According to some businesses, the current output is not much, mainly serving the domestic market. Large businesses do not dare to risk signing new contracts when prices are constantly fluctuating strongly along with transportation difficulties due to increased shipping costs.
Forecasting the coffee market developments in the last 6 months of 2024, based on factors such as weather conditions, crop yields and global consumption demand, observers believe that the price of this "bitter bean" may not cool down yet.
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Information for reference only. Prices may vary by location.
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