Shocking increase again after a series of slight decreases?

Coffee prices on June 30, 2024 in the domestic market are forecast to rebound. According to a recent share by coffee industry expert Nguyen Quang Binh, looking back at the domestic and world coffee markets in recent times, it is easy to see that although coffee futures prices on international exchanges have fluctuated strongly, domestic raw coffee prices have not "sunk" and sometimes thanks to high prices in Vietnam, the futures floor has to start to increase again.

Specifically, from under VND50 million/ton in the lean days of the 2023/2024 crop year, the domestic price of raw coffee has continuously increased, exceeding VND100 million/ton, and reaching a historical peak of VND135 million/ton. The domestic price then returned to VND95 million, then gradually increased to VND125 million and is currently fluctuating around VND120 million/ton.

The domestic coffee market is quite quiet. On June 18, the price of Robusta coffee in the domestic market decreased by VND4,000/kg compared to June 10, down to VND119,000 - 120,000/kg.

Regarding the export situation, according to data from the General Department of Customs, in May 2024, Vietnam exported 2.46 thousand tons of coffee to the Dutch market, worth 11.51 million USD, down 53.6% in volume and 45.4% in value compared to April 2024, compared to May 2023, down 30.8% in volume, but up 33.0% in value.

In the first 5 months of 2024, Vietnam exported 28.96 thousand tons of coffee to the Dutch market, worth 104.18 million USD, up 44.3% in volume and 109.3% in value over the same period last year.

In the first quarter of 2024, the average import price of Dutch coffee from the non-EU market reached 3,760 EUR/ton, down 11.4% compared to the same period last year. Of which, the average import price of Dutch coffee from Vietnam increased by 17.9% to 2,871 EUR/ton.

On the contrary, the average import price of Dutch coffee from other non-bloc markets decreased, such as: Brazil, Peru, Colombia, Honduras ...

The Netherlands imports coffee mainly from non-EU markets including Vietnam, Brazil, Peru, Colombia, and Honduras. Imports from these markets have grown positively, according to information from the Vietnamese Ministry of Industry and Trade.

In the domestic market, today's coffee prices were updated at 4:30 a.m. on June 27, 2024 as follows, according to www.giacaphe.com, today's domestic coffee prices decreased slightly by 100 - 200 VND/kg, ranging from 118,800 - 119,900 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 119,000 VND/kg, the highest purchase price in Dak Nong province is 119,900 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 119,900 VND, in Pleiku and La Grai the same price is 119,800 VND/kg; In Kon Tum province the price is 119,800 VND/kg; In Dak Nong province the coffee is purchased at the highest price of 119,900 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 118,800 VND/kg.

Coffee prices today (June 29) in Dak Lak province; in Cu M'gar district, coffee is purchased at about 119,800 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at the same price of 119,700 VND/kg.

London Robusta coffee price (Photo: Screenshot giacaphe.com)

Updated world coffee prices at 20:30 on June 29, 2024, Vietnam time on the London exchange, the price of Robusta coffee futures for September 2024 delivery on the London exchange was at 4,011 USD/ton, down 36 USD compared to the beginning of the trading session. The delivery term for November 2024 was 3,850 USD/ton, down 15 USD; the delivery term for January 2025 was 3,680 USD/ton, down 11 USD and the delivery term for March 2025 was 3,588 USD/ton, down 9 USD.

New York Arabica coffee price (Photo: Screenshot giacaphe.com)

Similarly, the price of Arabica coffee on the New York floor today at 20:30 on June 29, 2024 increased in all terms, fluctuating at 220.95 - 226.80 cents/lb.

Specifically, the September 2024 delivery period is 226.80 cents/lb; up 0.45 cents/lb compared to the beginning of the session. The December 2024 delivery period is 224.50 cents/lb, up 0.30 cents/lb; the March 2024 delivery period is 222.85 cents/lb, up 0.25 cents/lb and the May 2025 delivery period is 220.95 cents/lb, up 0.15 cents/lb.

Brazilian Arabica coffee prices (Photo: Screenshot giacaphe.com)

Brazilian Arabica coffee prices today at 20:30 on June 29, 2024 fluctuated in opposite directions. Specifically, the July 2024 delivery period was 287.45 USD/ton, up 0.33%; the September 2024 delivery period was 279.00 USD/ton (up 0.79%); the December 2024 delivery period was 272.15 USD/ton (down 0.20%) and the March 2025 delivery period was 270.65 USD/ton, up 0.35%.

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.

Early morning of June 29 in the US market, the US Dollar Index (DXY) measuring the fluctuations of the greenback against 6 key currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased by 0.04%, to 105.87.

The dollar slipped after new data showed inflation in the world’s largest economy slowed last month, reinforcing expectations the US Federal Reserve will start cutting interest rates this year.

Arabica is also supported by information, with coffee cooperative Expocacer saying Brazilian coffee farmers are harvesting smaller beans than usual this harvest, after the coffee trees suffered from a period of heat and drought that damaged their growth.

While the extent of the impact is currently uncertain, concerns have prompted a downward revision of Arabica coffee production estimates.

Information for reference only. Prices may vary by location.

Source: https://congthuong.vn/du-bao-gia-ca-phe-ngay-3062024-tang-soc-tro-lai-sau-chuoi-ngay-giam-nhe-329102.html