Continue to plummet, domestic price decreased by 1,500 VND/kg

Domestic coffee prices were updated at 4:30 a.m. on November 2, 2024 as follows, according to www.giacaphe.com, domestic coffee prices today dropped sharply by 1,500 VND/kg, ranging from 107,300-107,700 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 107,600 VND/kg, the highest purchase price in Dak Nong and Dak Lak provinces is 107,700 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 107,600 VND, down 1,500 VND/kg compared to yesterday, in Pleiku and La Grai the same price is 107,500 VND/kg; In Kon Tum province, the price is 107,600 VND/kg, down 1,500 VND/kg compared to yesterday; In Dak Nong province, coffee is purchased at the highest price of 107,700 VND/kg, down 1,500 VND/kg compared to yesterday.

Coffee price today November 2, 2024: Continues to plummet, domestic price down 1,500 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 107,300 VND/kg, down 1,500 VND/kg compared to yesterday.

Coffee prices today (November 2) in Dak Lak province; in Cu M'gar district, coffee is purchased at about 107,700 VND/kg, down 1,500 VND/kg, while in Ea H'leo district and Buon Ho town, it is purchased at the same price of 107,600 VND/kg.

World coffee prices in the early morning of November 2, 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 2, 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 2, 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 2, 2024. (Photo: Screenshot of giacaphe.com)

Arabica coffee prices on the New York floor on the morning of November 2, 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 2, 2024. (Photo: Screenshot of giacaphe.com)

The price of Brazilian Arabica coffee on the morning of November 2, 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.

Coffee prices extended their sell-off this week, with Arabica falling to a two-month low and Robusta sliding to a three-month low. Prices were pressured as forecasts of rain in Brazil eased drought concerns.

Meteorologist Climatempo also said heavy rains were expected in Brazil’s Minas Gerais region starting Saturday, the state is Brazil’s largest Arabica coffee producer. The weakening of the real was also a negative for coffee prices, with the real falling to its lowest level in nearly three months against the dollar on Friday, encouraging export sales by Brazilian coffee producers.

According to the Brazilian Institute of Geography and Statistics (IBGE), coffee output in Brazil – the world’s largest coffee producer – is estimated to reach nearly 3.6 million tons in the 2024-2025 crop year. This figure is up 4.8% compared to the previous crop year thanks to an average yield increase of 3.6% and a 1.2% increase in planting area. Of which, Arabica coffee output is estimated at 2.5 million tons, up 6.5%; and conilon output is about 1.06 million tons, 0.5 to 0.6 million tons lower than Vietnam due to a 3.3% decrease in area and a 1.1% decrease in productivity.

Brazil's coffee exports in the first two months of the 2024-2025 crop year (July and August) reached 451,000 tons, up nearly 12% and the turnover reached nearly 1.9 billion USD, up 39% over the same period last crop. Of which, Robusta coffee exports reached nearly 110,000 tons, up 53%; Arabica was 294,000 tons, up 2.5% and the rest was instant coffee, according to the International Coffee Organization (ICO).

Coffee supplies are gradually recovering after two consecutive years of record shortages. The ICO forecasts world coffee production in the 2023-2024 crop year to reach 10.68 million tons, up 5.8% from the previous crop year. Of which, Arabica coffee output will increase by 8.8% to 6.13 million tons; while Robusta coffee will increase by only 2.1% to 4.53 million tons. In contrast, coffee consumption in the 2023-2024 crop year will also increase by 2.2% to 10.6 million tons.

According to forecasts from industry experts and the Cocoa Coffee Association (Vicofa), in the current context both domestically and internationally, coffee prices will certainly continue to decrease in the short term. This is considered normal because when the market fluctuates, prices will decrease accordingly.

Coffee price list today 11/2/2024