Domestic coffee prices fluctuate around 121,500 VND/kg

World coffee prices in the early morning of June 24, 2024, at 4:20 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 June 24, 2024: Robusta coffee price on London floor

At the end of the trading session, the price of Robusta coffee on the London floor on June 23, 2024 at 4:30 a.m. decreased to 3,373 - 4,299 USD/ton. Specifically, the delivery period for July 2024 is 4,299 USD/ton (down 75 USD/ton); the delivery period for September 2024 is 4,104 USD/ton (down 72 USD/ton); the delivery period for November 2024 is 3,933 USD/ton (down 68 USD/ton) and the delivery period for January 2025 is 3,773 USD/ton (down 66 USD/ton).

Coffee price today June 23, 2024: Arabica coffee price on New York floor

Similarly, the price of Arabica coffee on the New York floor on the morning of June 23, 2024 decreased sharply, from 219.50 - 225.00 cents/lb. Specifically, the delivery period for September 2024 is 225.00 cents/lb (down 5.35%); the delivery period for December 2024 is 223.25 cents/lb (down 5.30%); the delivery period for March 2025 is 221.65 cents/lb (down 5.35%) and the delivery period for May 2025 is 219.50 cents/lb (down 5.50%).

The price of Brazilian Arabica coffee decreased slightly on the morning of June 23, 2024. Specifically, the delivery period for July 2024 was 284.55 USD/ton (down 4.90%); the delivery period for September 2024 was 274.35 USD/ton (up 0.45%); the delivery period for December 2024 was 270.70 USD/ton (down 6.55%) and the delivery period for March 2025 was 269.05 USD/ton (down 7.10%).

Coffee price today 6/24/2024: Brazilian Arabica coffee price

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 June 24, 2024 as follows, according to www.giacaphe.com, domestic coffee prices today are in the range of 120,500-121,600 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 121,500 VND/kg, the highest purchase price in Dak Nong province is 121,600 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 121,500 VND, in Pleiku and La Grai the same price is 121,400 VND/kg; In Kon Tum province the price is 121,500 VND/kg; In Dak Nong province the coffee is purchased at the highest price of 121,600 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 120,500 VND/kg.

Coffee prices today (June 24) in Dak Lak province; in Cu M'gar district, coffee is purchased at about 121,500 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at the same price of 121,400 VND/kg.

USDA forecasts world coffee production for the 2023/24 crop year to increase by 4.2%, with arabica production increasing by 10.7% and robusta production decreasing by 3.3%.

Vietnam’s robusta coffee output for the 2024/2025 crop year (October 2023 to May 2024) is expected to reach just 24 million bags, the lowest level in 13 years. Vietnam is the largest producer and exporter of robusta coffee in Asia and Oceania.

Vietnam's coffee exports have decreased in volume for the past four consecutive months, a sign that domestic inventories are running low.

According to the General Department of Customs, as of mid-June, Vietnam's coffee exports reached more than 862,400 tons, worth 3.04 billion USD, down more than 8% in volume but up 38% in coffee value. Coffee output for the upcoming crop is forecast to continue to decrease by about 20% due to the recent prolonged heat wave leading to severe drought in the Central Highlands.

The International Coffee Organization (ICO) and the United Nations Industrial Development Organization (UNIDO) have proposed the creation of a new global fund to support the coffee industry, especially farmers. The fund would focus on direct lending to coffee cooperatives and coffee-producing households. The goal is to increase coffee production in the face of falling supplies and rising global demand.

Members of the International Coffee Partnership (ICP), have lobbied EUDR policymakers to delay the implementation of the European Anti-Deforestation Law, which is due to come into force at the end of 2024.

Information for reference only. Prices may vary by location.

Source: https://congthuong.vn/gia-ca-phe-hom-nay-2462024-gia-ca-phe-trong-nuoc-dao-dong-quanh-muc-121500-dongkg-327736.html