Continuous reversal, the world turns to decrease, domestic increases slightly

Coffee prices today, November 1, 2024, world coffee prices decreased simultaneously, domestic prices were at 108,800-109,200 VND/kg, an increase of 600 VND/kg compared to yesterday.

Domestic coffee prices were updated at 4:30 a.m. on November 1, 2024 as follows, according to www.giacaphe.com, domestic coffee prices today increased by 600 VND/kg, ranging from 108,800-109,200 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 109,100 VND/kg, the highest purchase price in Dak Nong and Dak Lak provinces is 109,200 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 109,100 VND, an increase of 600 VND/kg compared to yesterday, in Pleiku and La Grai the same price is 109,000 VND/kg; In Kon Tum province, the price is 109,100 VND/kg, an increase of 600 VND/kg compared to yesterday; In Dak Nong province, coffee is purchased at the highest price of 109,200 VND/kg, an increase of 600 VND/kg compared to yesterday.

Coffee price today November 1, 2024: Continuously reversing, world price turns down, domestic price slightly increases by 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 108,800 VND/kg, an increase of 600 VND/kg compared to yesterday.8

Coffee prices today (November 1) in Dak Lak province; in Cu M'gar district, coffee is purchased at about 109,200 VND/kg, an increase of 600 VND/kg, while in Ea H'leo district and Buon Ho town, it is purchased at the same price of 109,100 VND/kg.

World coffee prices at dawn on November 1, 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:

Coffee price today November 1, 2024: Robusta coffee price on the London floor. (Photo: Screenshot giacaphe.com

At the end of the trading session, the price of Robusta coffee on the London floor on November 1, 2024 at 4:30 a.m. decreased to 4,145 - 4,369 USD/ton. Specifically, the delivery period for January 2025 is 4,369 USD/ton (down 84 USD/ton); the delivery period for March 2025 is 4,281 USD/ton (down 82 USD/ton); the delivery period for May 2025 is 4,216 USD/ton (down 80 USD/ton) and the delivery period for July 2025 is 4,145 USD/ton (down 73 USD/ton).

Arabica coffee prices on the New York floor on November 1, 2024. (Photo: Screenshot of giacaphe.com)

Arabica coffee prices on the New York floor on the morning of November 1, 2024 decreased, from 242.15 - 245.90 cents/lb. Specifically, the December 2024 delivery period is 245.90 cents/lb (down 1.48%); the March 2025 delivery period is 245.50 cents/lb (down 1.43%); the May 2025 delivery period is 244.45 cents/lb (down 1.35%) and the July 2025 delivery period is 242.15 cents/lb (down 1.28%).

Brazilian Arabica coffee price on November 1, 2024. (Photo: Screenshot of giacaphe.com)

The price of Brazilian Arabica coffee on the morning of November 1, 2024 increased and decreased in different directions. Specifically, the delivery period for December 2024 was 300.25 USD/ton (up 0.52%); the delivery period for March 2025 was 300.50 USD/ton (up 0.62%); the delivery period for May 2025 was 299.15 USD/ton (down 1.47%) and the delivery period for July 2025 was 296.00 USD/ton (down 1.38%).

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.

Coffee futures fell sharply on Thursday on two derivatives exchanges amid forecasts of rain in Brazil. Meteorologist Climatempo also said Thursday that heavy rains were expected in Brazil’s Minas Gerais region starting Saturday, the country’s largest Arabica coffee-producing region. The weakening of the real was also a negative for coffee prices, with the real falling to its lowest level in nearly three months against the dollar on Thursday. A weaker real encourages export sales by Brazilian coffee producers.

In addition, coffee prices received fundamental support from concerns about long-term damage to the coffee crop due to drought conditions in Brazil over the past long period. Thus, on the two derivatives exchanges, coffee prices have retreated after the previous increase.

The market is currently under pressure from the ongoing harvest in Vietnam. In the short term, the latest information that may impact the market is that storm Tra Mi did not cause much damage to coffee plantations in the Central region, and the harvest progress has slowed down insignificantly.

According to the International Coffee Organization (ICO), coffee supplies are gradually recovering after two consecutive years of record shortages. The world's coffee output in the 2023-2024 crop year is expected to reach 10.68 million tons, up 5.8% over the previous crop year. Of which, Arabica coffee output increased by 8.8% to 6.13 million tons; while Robusta coffee increased by only 2.1% to 4.53 million tons.

Meanwhile, coffee consumption in the 2023-2024 crop year will also increase by 2.2% to 10.6 million tons. Consumption will increase mainly in North America, up 3.8% to 1.85 million tons, and Europe will increase by 1.1% to 3.2 million tons.

Therefore, the world coffee market in the 2023-2024 crop year is expected to have a surplus of about 100,000 tons. However, in the 2022-2023 crop year, the global coffee supply was in deficit of about 300,000 tons, while the previous crop year had a record deficit of 516,000 tons.

Coffee price list today 11/1/2024