Today's coffee price, November 24, 2024, on the world market, at 4:30 am, was updated on the Vietnam Commodity Exchange MXV (world coffee prices are continuously updated by MXV, matching the world exchanges, the only channel in Vietnam that continuously updates and links with the world exchanges). 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 Y5 Cafe during the trading hours of the exchange, updated as follows:
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| Robusta coffee price on London floor updated on the morning of November 24, 2024 |
At the end of the trading session, the price of Robusta coffee on the London floor at 4:30 a.m. on November 24, 2024 remained the same as yesterday's trading session, November 23, at 173 - 198 USD/ton, fluctuating between 4,574 - 5,018 USD/ton. Specifically, the delivery period for January 2025 is 4,985 USD/ton (up 198 USD/ton); the delivery period for March 2025 is 4,923 USD/ton (up 191 USD/ton); the delivery period for May 2025 is 4,859 USD/ton (up 181 USD/ton) and the delivery period for July 2025 is 4,789 USD/ton (up 173 USD/ton).
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| Arabica coffee prices on the New York floor updated on the morning of November 24, 2024 |
Similar to the London floor, the price of Arabica coffee on the New York floor on the morning of November 24, 2024 also remained unchanged compared to the previous trading session and remained at 4.65 - 6.45 cents/lb, fluctuating between 278.85 - 303.90 cents/lb. Specifically, the delivery period for March 2025 is 302.10 cents/lb (up 6.40 cents/lb); the delivery period for May 2025 is 299.60 cents/lb (up 6.45 cents/lb); the delivery period for July 2025 is 293.90 cents/lb (up 5.35 cents/lb) and the delivery period for September 2025 is 288.30 cents/lb (up 4.65 cents/lb).
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| Brazilian Arabica coffee prices updated on the morning of November 24, 2024 |
At the end of the trading session, the price of Brazilian Arabica coffee on the morning of November 24, 2024 did not increase or decrease compared to the trading session yesterday, November 23, but only remained stable at 1.45 - 18.30 USD/ton depending on the delivery terms. Specifically, the delivery term for December 2024 is 373.10 USD/ton (up 13.65 USD/ton); the delivery term for March 2025 is 370.00 USD/ton (up 1.45 USD/ton); the delivery term for May 2025 is 363.60 USD/ton (up 18.30 USD/ton) and the delivery term for July 2025 is 357.35 USD/ton (up 16.85 USD/ton).
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 (New York exchange) opens at 16:15 and closes at 01:30 (next day), Vietnam time. For Arabica coffee traded on the B3 Brazil exchange, it will open from 19:00 – 02:35 (next day) Vietnam time.
Domestic coffee prices were updated at 4:30 a.m. on November 24, 2024. Domestic coffee prices continued to increase sharply compared to the previous trading session with a sharp increase of about 2,000 VND/kg. Currently, the average coffee purchase price in the Central Highlands provinces is 117,500 VND/kg.
Specifically, the coffee purchase price in Gia Lai province is at 117,400 VND/kg; the coffee purchase price in Dak Nong and Dak Lak provinces is at the highest price of 117,500 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 117,000 VND/kg.
Coffee prices today (November 24) in Dak Lak province; in Cu M'gar district, coffee is purchased at 117,500 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at 117,400 VND/kg.
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| Domestic coffee prices on November 24, 2024 |
On the morning of November 24, updated at 4:30 a.m., the world coffee market price remained the same compared to yesterday's trading session, November 23. At the end of the trading session, on all three exchanges, Robusta London, Arabica New York and Brazil, coffee prices remained unchanged, neither increasing nor decreasing compared to the previous trading session.
It can be seen that, unlike the world coffee price which has been flat after a series of days of price increases, the domestic coffee price continues to increase sharply by 2,000 VND/kg. The shocking increase in coffee prices in recent days is causing roasters to fall into a state of despair due to the pressure of too high input prices. According to experts, this is an extremely difficult time for coffee businesses.
Experts say that there are many factors affecting the world coffee market, in which the global economic situation is directly affecting the supply, demand and price of this commodity. Therefore, farmers, businesses as well as consumers need to be prepared for changes in coffee prices.
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| Experts say this will be a golden time for coffee traders to speculate when supply is scarce because the next coffee crop is still many days away. |
In addition, experts also said that the sharp increase in coffee prices in recent days is due to prolonged dry weather in both Vietnam and Brazil, the world's two leading Robusta coffee producing countries, causing concerns about supply in the coming time. In addition, the strong USD also puts pressure on Robusta coffee prices, making it difficult for this type of coffee to compete in the international market.
According to coffee business experts, there are many reasons for the rapid increase in coffee prices in recent days. In addition to the shortage of supply, it is also possible that financial speculators are taking advantage of the situation to push up prices, causing coffee prices to continuously increase in recent days.
Experts say this will be a golden time for coffee traders to speculate when supply is scarce because the next coffee crop is still many days away.
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