Will there be a correction before the price goes up again?

World coffee prices in the early morning of September 17, 2024, at 4:20 am, were updated on the Vietnam Commodity Exchange MXV (world coffee prices are continuously updated by MXV, matching world exchanges, the only channel in Vietnam that continuously updates and links to 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 Y5Cafe during the trading hours of the exchange, updated by www.giacaphe.com as follows:

Coffee price today September 17, 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 September 17, 2024 at 5:30 a.m. was 4,618 - 5,246 tons. Specifically, the delivery period for November 2024 was 5,246 USD/ton; the delivery period for January 2025 was 4,977 USD/ton; the delivery period for March 2025 was 4,757 USD/ton and the delivery period for May 2025 was 4,618 USD/ton.

Coffee price today 9/17/24: New York Arabica coffee price (Photo: Screenshot giacaphe.com

Arabica coffee prices on the New York floor on the morning of September 17, 2024 were dominated by red, with a decrease of 0.30 - 0.90 cents/lb. Specifically, the December 2024 delivery period was 258.55 cents/lb, down 0.35%; the March 2025 delivery period was 256.10 cents/lb (down 0.19%); the May 2025 delivery period was 253.65 cents/lb (down 0.12%) and the July 2025 delivery period was 250.50, down 0.18%.

Coffee price today September 17, 2024: Brazilian Arabica coffee price. (Photo: Screenshot giacaphe.com)

The price of Brazilian Arabica coffee on the morning of September 17, 2024 increased and decreased in opposite directions. Specifically, the delivery period for September 2024 was 312.00 USD/ton, down 1.56%; the delivery period for December 2024 was 308.10 USD/ton (up 0.29%); the delivery period for March 2025 was 310.00 USD/ton, up 0.57% and the delivery period for May 2025 was 311.30 USD/ton, down 0.13%.

Robusta coffee traded on the ICE Futures Europe (London exchange) opens at 16:00 and closes at 00:30 (next day), Vietnam time.

Coffee price today September 17, 2024: Will there be a price correction before increasing again?

Arabica coffee on the ICE Futures US (New York floor) opens at 16:15 and closes at 01:30 (next day), Vietnam time.

For Arabica coffee traded on the B3 Brazil exchange, it will be open from 19:00 – 02:35 (next day), Vietnam time.

Domestic coffee prices were updated at 4:30 a.m. on September 17, 2024 as follows: The domestic coffee market today decreased slightly by 100 - 200 VND/kg, ranging from 123,500 - 123,800. Currently, the average purchase price in the Central Highlands provinces is 123,800 VND/kg, the highest purchase price in Dak Nong, Dak Lak, Gia Lai, Kon Tum provinces is 123,800 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 123,800 VND, down 100 VND/kg compared to yesterday, in Pleiku and La Grai the price is 123,700 VND/kg. In Kon Tum province, the price is 123,800 VND/kg, down 100 VND/kg compared to yesterday; In Dak Nong province, coffee is purchased at 123,800 VND/kg, down 200 VND/kg compared to yesterday.

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 123,500 VND/kg, unchanged compared to yesterday.

Coffee prices today (September 17) in Dak Lak province; in Cu M'gar district, coffee is purchased at about 123,800 VND/kg, down 200 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at 123,700 VND/kg.

Hopes of a rate cut by the US Federal Reserve (Fed) have sent the dollar index tumbling and prompted buying in commodities, with the agency expected to announce a rate cut at its meeting on September 19. Markets are now turning their attention to the Federal Open Market Committee (FOMC) meeting, which is considered one of the most influential meetings of the year, with expectations for the first rate cut since 2020.

According to experts, there is a lot of information to predict that prices will continue to increase, but about half a month ago, when the winter in Brazil was entering its final stage, if anyone had said that robusta prices would exceed 5,000 USD/ton, no one would have believed it. But now it has happened.

Coffee production in the world’s top robusta exporter, Vietnam, in 2024/25 is expected to fall sharply to a 13-year low. Meanwhile, the mainstream coffee consumer market in the Northern Hemisphere is gradually returning from summer vacation, which will help boost some physical coffee trading in the coming months ahead of winter roasting in Europe and the US.

According to the assessment, world coffee prices will continue to fluctuate strongly from now until the end of 2024 due to bad weather, transportation disruptions as well as a tightening legal environment in many countries. Tensions will ease in 2025 but prices in the long term will still tend to increase due to climate change and many other factors.

The sustained high prices, coupled with doubts about Brazil’s next coffee crop, have dampened sales. The lack of rain in Brazil has left soil moisture very low, leaving growers worried that both coffee varieties will be too weak to flower next year’s crop amid a global coffee shortage.

In the robusta market, the amount of coffee exported from Vietnam decreased by 12.1% in the first 8 months of the year, continuing to put pressure on the price of this commodity. In Vietnam, currently, the coffee area cannot be expanded due to fierce competition with products such as durian and pepper, so people in the Central Highlands are promoting replanting to improve productivity.

Coffee price list today 9/17/2024