Domestic coffee prices increased slightly by 100 VND/kg

World coffee prices at dawn on July 19, 2024, at 4:30 am were updated on the Vietnam Commodity Exchange MXV.

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

Coffee price today July 19, 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 19, 2024 at 4:30 a.m. decreased to 3,995-4,479 USD/ton. Specifically, the delivery period for September 2024 is 4,479 USD/ton (down 91 USD/ton); the delivery period for November 2024 is 4,317 USD/ton (down 83 USD/ton); the delivery period for January 2025 is 4,139 USD/ton (down 71 USD/ton) and the delivery period for March 2025 is 3,995 USD/ton (down 58 USD/ton).

Coffee price today July 19, 2024: New York Arabica coffee price (Photo: Screenshot giacaphe.com

Arabica coffee prices on the New York floor on the morning of July 19, 2024 decreased from 234.75 - 240.90 cents/lb. Specifically, the September 2024 delivery period is 240.90 cents/lb (down 0.93%); the December 2024 delivery period is 239.35 cents/lb (down 0.87%); the March 2025 delivery period is 237.50 cents/lb (down 0.84%) and the May 2025 delivery period is 234.75 cents/lb (down 0.82%).

Coffee price today July 19, 2024: Brazilian Arabica coffee price. (Photo: Screenshot giacaphe.com)

The price of Brazilian Arabica coffee decreased slightly on the morning of July 19, 2024. Specifically, the delivery period for July 2024 is 306.40 USD/ton (down 1.68%); the delivery period for September 2024 is 296.00 USD/ton (down 0.13%); the delivery period for December 2024 is 293.35 USD/ton (down 0.53%) and the delivery period for March 2025 is 290.00 USD/ton (down 0.91%).

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.

Experts now predict that coffee prices will increase at a high level due to the gradually depleting supply. It is estimated that Vietnam has only about 210,000 tons of coffee left to export in the next 4 months until the new harvest begins in November 2024.

Domestic coffee prices were updated at 4:30 a.m. on July 19, 2024 as follows, according to www.giacaphe.com, domestic coffee prices increased slightly by 100 VND/kg compared to yesterday, ranging from 127,000 to 127,600 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 127,400 VND/kg, the highest purchase price in Dak Nong and Dak Lak provinces is 127,600 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 127,500 VND, in Pleiku and La Grai the same price is 127,400 VND/kg; In Kon Tum province the price is 127,500 VND/kg; In Dak Nong province the coffee is purchased at the highest price of 127,600 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 120,000 VND/kg.

Coffee prices today, July 18, in Dak Lak province increased by 100 VND/kg compared to yesterday; in Cu M'gar district, coffee was purchased at about 127,600 VND/kg, and in Ea H'leo district, Buon Ho town, it was purchased at the same price of 127,500 VND/kg.

Despite the weakening of the Brazilian real against the dollar, Brazil's top Arabica exporters are in no rush to sell.

The US Department of Agriculture (USDA) forecasts that Brazil's 2024/25 coffee crop is estimated at 69.9 million bags (60kg), up 5.4% from the previous crop, due to favorable weather. Of which, Arabica output will increase by 7.3% to 48.2 million bags, while Robusta will increase by 1.4% to 21.7 million bags.

Brazil’s new crop could be bigger, but a late-year drought has affected the flowering stage. However, rains earlier this year have helped the trees recover and grow.

Also in the 2024/25 crop year, USDA forecasts Brazil will export 46.65 million bags, up 2.4% from the 2023/24 crop year. Of that total, 42.5 million bags will be arabica and robusta, and the remaining 4.1 million bags will be instant coffee.

USDA lowered its forecast for Brazil's 2023/24 ending coffee stocks to 2.88 million bags, down from 4.58 million bags previously, due to increased exports.

In Vietnam, many experts have warned of the situation of farmers massively cutting down coffee trees to switch to growing durian in some areas of the Central Highlands and southern provinces, in the context of durian prices increasing nearly fivefold last year, when Vietnam signed the Protocol on official durian exports to China.

The current practice of many gardeners to convert crops without calculation, control, for temporary profit and without direction from professional agencies has been warned by experts that it can bring many risks in the future.