The market suddenly has unusual developments.

Giá cà phê hôm nay 3/10/2024: Thị trường tiếp tục có biến động khác thường

Coffee price today October 3, 2024: The market suddenly has unusual fluctuations.

World coffee prices in the early morning of October 3, 2024, at 4:30 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 October 3, 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 October 3, 2024 at 4:30 a.m. was 4,511 - 5,111 tons. Specifically, the delivery period for November 2024 was 5,111 USD/ton, down 334 USD/ton; the delivery period for January 2025 was 4,862 USD/ton, down 317 USD/ton; the delivery period for March 2025 was 4,651 USD/ton, down 294 USD/ton and the delivery period for May 2025 was 4,511 USD/ton, down 266 USD/ton.

Coffee price today October 3, 2024: New York Arabica coffee price. (Photo: Screenshot giacaphe.com)

Arabica coffee prices on the New York floor on the morning of October 3, 2024, red dominated, with a decrease of 6.65 - 7.65 cents/lb. Specifically, the December 2024 delivery period was 256.50 cents/lb, down 2.90%; the March 2025 delivery period was 254.75 cents/lb, down 2.82%); the May 2025 delivery period was 252.80 cents/lb (down 2.69%) and the July 2025 delivery period was 250.35, down 2.59%.

Coffee price today October 3, 2024: Brazilian Arabica coffee price. (Photo: Screenshot giacaphe.com)

The price of Brazilian Arabica coffee on the morning of October 3, 2024 increased and decreased in different directions. Specifically, the delivery period for December 2024 was 311.55 USD/ton, up 0.14%; the delivery period for March 2025 was 310.20 USD/ton (down 1.65%); the delivery period for May 2025 was 310.20 USD/ton, down 2.90% and the delivery period for July 2025 was 306.90 USD/ton, down 2.79%.

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 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 October 3, 2024 as follows: Today's domestic coffee market is red, down 300 - 400 VND/kg, in the range of 120,700 - 120,800. Currently, the average purchase price in the Central Highlands provinces is 121,100 VND/kg, the highest purchase price in Dak Lak province is 121,700 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 120,700 VND, down 300 VND/kg compared to yesterday, in Pleiku and La Grai the price is 120,700 VND/kg. In Kon Tum province, the price is 120,700 VND/kg, down 300 VND/kg compared to yesterday; In Dak Nong province, coffee is purchased at 120,800 VND/kg, down 400 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 121,800 VND/kg, a decrease of 300 VND/kg compared to yesterday.

Coffee prices today (October 3) in Dak Lak province; in Cu M'gar district, coffee is purchased at about 121,700 VND/kg, down 400 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at 121,600 VND/kg.

Coffee production in Dak Nong is currently facing many challenges. Currently, about half of the coffee area in the province is planted with vegetative varieties, resulting in low productivity and product quality. Production is not really sustainable and has not fully exploited the potential of the local soil and climate.

To improve this situation, Dak Nong has replanted nearly 30,000 hectares of coffee, increasing productivity by 0.5 to 1.5 tons/ha compared to before. Training programs and seminars have also been organized to guide farmers in replanting and renovating coffee gardens. People are increasingly proactive in replanting, aiming to create coffee gardens with higher productivity and quality.

In addition, farmers are applying new production models, combining intercropping with high-value crops such as fruit trees, pepper, macadamia, etc. to adapt to climate change and improve economic efficiency. Replacing old coffee trees with new high-quality varieties that are resistant to rust is also a priority solution.

However, the domestic coffee market is in a lull ahead of the new 2024/25 crop. Although some growers have started harvesting early, the overall situation is not very positive. Coffee prices are expected to fall in October due to increased supply when Vietnam starts harvesting.

The prolonged drought has negatively affected coffee production. The size of coffee cherries has shrunk, and production is expected to decrease by 10% to 15%. Despite the impact on productivity, high coffee prices have helped growers earn better incomes than last year.

The world is forecast to experience a fourth consecutive coffee deficit due to lower production in Vietnam and Brazil. However, coffee prices will remain supported by fundamentals in the coming months. Both countries have been hit by bad weather, with prolonged heatwaves affecting the flowering and fruiting of coffee trees.