Experts predict that coffee prices on October 27, 2024 in the domestic market may increase sharply due to the impact of the world coffee market.
The main reason is that the demand for coffee in the international market is increasing, pushing up prices. In addition, coffee production in some key growing areas is showing signs of decreasing due to unfavorable weather, limiting supply.
In the international market, the price increase of Robusta and Arabica coffee is expected to continue in the coming time. Futures contracts on the London and New York exchanges both recorded steady increases, indicating positive sentiment among traders and the recovery of the coffee market after a period of slight adjustment.
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| Coffee price forecast October 27, 2024: Will the uptrend continue and how long will it last? |
Recorded in the trading session on October 26, 2024, domestic coffee prices today decreased by 1,200 VND/kg, ranging from 108,400-108,800 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 108,600 VND/kg, the highest purchase price in Dak Nong province is 108,800 VND/kg.
Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 108,600 VND, down 1,200 VND/kg compared to yesterday, in Pleiku and La Grai the same price is 108,500 VND/kg; In Kon Tum province, the price is 108,600 VND/kg, down 1,200 VND/kg compared to yesterday; In Dak Nong province, coffee is purchased at the highest price of 108,800 VND/kg, down 1,200 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 108,400 VND/kg, down 1,200 VND/kg compared to yesterday.
Coffee prices today (October 26) in Dak Lak province; in Cu M'gar district, coffee is purchased at about 108,600 VND/kg, down 1,200 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at the same price of 108,500 VND/kg.
Updated world coffee prices at 20:00 on October 26, 2024, Vietnam time on the London exchange, the price of Robusta coffee futures contract for delivery in November 2024 on the London exchange was at 4,430 USD/ton, up 62 USD compared to the beginning of the trading session.
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| Coffee price today October 26, 2024: Robusta coffee price on London floor. (Photo: Screenshot giacaphe.com |
The January 2025 delivery term is 4,411 USD/ton, up 74 USD; the March 2025 delivery term is 4,323 USD/ton, up 57 USD and the May 2025 delivery term is 4,256 USD/ton, up 52 USD.
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| Arabica coffee prices on the New York floor on October 26, 2024. (Photo: Screenshot of giacaphe.com) |
In particular, the price of Arabica coffee on the New York floor today at 20:00 on October 26, 2024 increased in all terms, fluctuating at 243.60 - 248.40 cents/lb.
Specifically, the December 2024 delivery period is 248.40 cents/lb; up 2.95 cents/lb compared to the beginning of the session. The March 2025 delivery period is 247.50 cents/lb, up 3.05 cents/lb; the May 2025 delivery period is 246.15 cents/lb, up 3.15 cents/lb and the July 2025 delivery period is 243.60 cents/lb, up 3.35 cents/lb.
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| Brazilian Arabica coffee price on October 26, 2024. (Photo: Screenshot of giacaphe.com) |
The price of Brazilian Arabica coffee today at 9:00 p.m. on October 26, 2024 increased and decreased in opposite directions. Specifically, the delivery period for December 2024 is 300.10 USD/ton, down 0.22%; the delivery period for March 2025 is 300.00 USD/ton, down 0.37%; the delivery period for May 2025 is 301.40 USD/ton, up 1.40% and the delivery period for July 2025 is 297.95 USD/ton, up 1.52%.
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.
Weather reports in Brazil continue to be positive across most coffee growing regions, with rainfall providing much-needed moisture after the dry winter months. Forecasters expect more rain next week, which should have a positive impact on flowering and preparation for Brazil’s 2025-26 crop.
In Vietnam, Tropical Storm Trami is moving toward central Vietnam in the coming days after sweeping across the Philippines. The storm could bring heavy rains to parts of the world’s largest robusta coffee producer. It is too early to predict the impact on coffee growing areas, but heavy rains could disrupt ongoing harvesting activities, I&M Smith said.
The global coffee industry has been and continues to face many difficulties and challenges due to climate change which has greatly affected productivity, output and quality. Drought and heat waves have lasted from the beginning of the season, followed by storms at the end of the season.
In addition, geopolitical instability, war, local embargoes between Russia and Ukraine, Israel and the Gaza Strip, and many other places in the world with prolonged developments continue to impact the difficulties of the global economy in the medium and long term. Up to now, coffee prices have cooled down, but the market situation in the upcoming 2024-2025 crop year is still difficult to predict.
Information for reference only. Prices may vary by location.
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