Continuing the decrease of 1,200 VND/kg, the whole month of October 2024 lost 14,000 VND/kg

Coffee prices today November 3, 2024, world coffee prices continue to decrease. Domestic prices continue to decrease, the whole month of October lost 14,000 VND/kg, at 106,000-106,500 VND/kg,

Today's coffee prices were updated at 4:30 a.m. on November 3, 2024 as follows, according to www.giacaphe.com, domestic coffee prices today dropped sharply by 1,200 - 1,300 VND/kg, ranging from 106,000 - 106,500 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 106,500 VND/kg, the highest purchase price in Dak Nong and Dak Lak provinces is 106,500 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 106,400 VND, down 1,200 VND/kg compared to yesterday, in Pleiku and La Grai the same price is 106,300 VND/kg; In Kon Tum province, the price is 106,400 VND/kg, down 1,200 VND/kg compared to yesterday; In Dak Nong province, coffee is purchased at the highest price of 106,500 VND/kg, down 1,200 VND/kg compared to yesterday.

Coffee price today November 3, 2024: Continuing to decrease by 1,200 VND/kg, the whole month of October 2024 lost 14,000 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 106,000 VND/kg, down 1,300 VND/kg compared to yesterday.

Domestic coffee prices (November 3) in Dak Lak province; in Cu M'gar district, coffee was purchased at about 106,500 VND/kg, down 1,200 VND/kg, while in Ea H'leo district and Buon Ho town, it was purchased at the same price of 107,600 VND/kg.

At the end of the week, domestic coffee prices decreased continuously, losing 14,000 VND/kg in October 2024, currently trading in the range of 106,000 - 106,500 VND/kg.

World coffee prices in the early morning of January 31, 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 3, 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 November 3, 2024 at 4:30 a.m. decreased to 4,075 - 4,279 USD/ton. Specifically, the delivery period for January 2025 is 4,279 USD/ton (down 90 USD/ton); the delivery period for March 2025 is 4,208 USD/ton (down 73 USD/ton); the delivery period for May 2025 is 4,150 USD/ton (down 66 USD/ton) and the delivery period for July 2025 is 4,075 USD/ton (down 70 USD/ton).

Arabica coffee prices on the New York floor on November 3, 2024. (Photo: Screenshot of giacaphe.com)

Arabica coffee prices on the New York floor on the morning of November 3, 2024 decreased, from 239.20 to 242.95 cents/lb. Specifically, the December 2024 delivery period is 242.95 cents/lb (down 1.20%); the March 2025 delivery period is 242.40 cents/lb (down 1.26%); the May 2025 delivery period is 241.35 cents/lb (down 1.27%) and the July 2025 delivery period is 239.20 cents/lb (down 1.22%).

Brazilian Arabica coffee price on November 3, 2024. (Photo: Screenshot of giacaphe.com)

The price of Brazilian Arabica coffee on the morning of November 3, 2024 increased and decreased in different directions. Specifically, the delivery period for December 2024 was 297.30 USD/ton (up 0.25%); the delivery period for March 2025 was 295.55 USD/ton (down 1.04%); the delivery period for May 2025 was 295.05 USD/ton (down 1.37%) and the delivery period for July 2025 was 292.10 USD/ton (down 1.32%).

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.

Robusta coffee futures fell to a 2-1/2-month low on Friday, with Vietnam’s harvest expected to pick up pace this November.

Traders said strong exports of conilon (Robusta) coffee from Brazil this season have also contributed to pressure on prices.

Meanwhile, Arabica coffee prices also ended the session lower, with the main news still being that recent rains will help Brazil's coffee crop recover after a prolonged dry period.

Coffee growing regions in Brazil have been in full bloom since October after the return of rains, according to cooperatives and agronomists. Coffee has fallen 5.06% in the past four weeks.

Heavy rains are expected in Brazil's Minas Gerais region starting this weekend, meteorologist Climatempo said.

Another factor that has caused coffee prices to fall sharply is the weakening of the Brazilian currency, with the Real falling to its lowest level in nearly three months against the US dollar.

Indonesian government trade data from Sumatra, Indonesia’s top coffee-producing island, reported September robusta exports of 159,918 bags, or 76.36% higher than the same period last year. This contributed to the island’s total robusta coffee exports in the first six months of crop year 2024 being 14.28% higher than the same period last year, totaling 1,268,499 bags.

Certified graded Arabica coffee holdings on the New York Mercantile Exchange rose 2,505 bags on Thursday to 852,058 bags.

The latest data released showed that the US personal consumption expenditure (PCE) price index increased by 0.2% in September, raising expectations for a second interest rate cut by the FED this month. If the FED actually implements the rate cut as people are predicting and expecting, the USD will depreciate more than other currencies in the currency basket and help coffee prices gain momentum.

According to the Vietnam Coffee and Cocoa Association (VICOFA), in the 2023-2024 crop year, Vietnam's average coffee export price will reach 3,792 USD/ton. Among the 10 largest markets, there are 5 European countries, all with import prices below 4,000 USD/ton, while 4 Asian countries have prices above 4,000 USD/ton.

Specifically, five European countries, including Germany, Italy, Spain, Russia and the Netherlands, all have import prices below $4,000 per ton. Germany is the leading country in import volume, with 179,000 tons and a value of $607 million, but the average price is only $3,392 per ton. Italy is second in import value but has the lowest unit price, only $3,262 per ton. Meanwhile, Spain, with a price of $3,915 per ton, is the country with the highest import price of Vietnamese coffee in Europe.

In contrast, Asian countries are becoming the leading importers of Vietnamese coffee, with the Philippines being the market with the highest average price of 4,424 USD/ton. Japan, the third largest importer in the world, also has a higher average price than European countries, reaching 3,866 USD/ton. The main reason is that Europe mainly imports green coffee for processing, while Asian countries also import processed products and instant coffee, thereby increasing added value and higher average selling prices.

Coffee price list today 11/3/2024