Domestic coffee prices were updated at 4:30 a.m. on August 2, 2024 as follows, according to www.giacaphe.com, domestic coffee prices decreased slightly by 100 VND compared to yesterday, ranging from 123,000 to 123,500 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 123,400 VND/kg, the highest purchase price in Dak Nong province is 123,500 VND/kg.
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| Coffee prices today August 2, 2024: Domestic prices slightly decreased; world coffee prices reached a low level |
Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 123,400 VND, down 100 VND/kg, in Pleiku and La Grai the same price is 123,300 VND/kg; in Kon Tum province, coffee is purchased at 123,400 VND/kg, down 100 VND/kg; in Dak Nong province, coffee is purchased at the highest price of 123,500 VND/kg, down 100 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 123,000 VND/kg.
Coffee price list today 8/2/2024
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Coffee prices today, August 2, in Dak Lak province decreased slightly by 100 VND/kg compared to yesterday; in Cu M'gar district, coffee was purchased at about 123,400 VND/kg, and in Ea H'leo district, Buon Ho town, it was purchased at the same price of 123,300 VND/kg.
The domestic coffee market is basically stable compared to the same time yesterday, some places have decreased slightly, the London floor has continuously decreased in the past few days. Today's coffee price on August 2 is around 123,000 - 123,500 VND/kg in the domestic market.
World coffee prices at 4:30 a.m. on August 2, 2024 were updated on the MXV Vietnam Commodity Exchange trading floor.
Today's online coffee prices of the three main coffee futures exchanges ICE Futures Europe, ICE Futures US and B3 Brazil are updated by www.giacaphe.com as follows:
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| Coffee price today August 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 August 2, 2024 at 4:30 a.m. decreased to 3,814 - 4,225 USD/ton. Specifically, the delivery period for September 2024 is 4,225 USD/ton (down 36 USD/ton); the delivery period for November 2024 is 4,083 USD/ton (down 33 USD/ton); the delivery period for January 2025 is 3,941 USD/ton (down 29 USD/ton) and the delivery period for March 2025 is 3,814 USD/ton (down 25 USD/ton).
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| Coffee price today August 2, 2024: New York Arabica coffee price (Photo: Screenshot giacaphe.com |
Arabica coffee prices on the New York floor on the morning of August 2, 2024 decreased from 223.20 - 227.75 ent/lb. Specifically, the September 2024 delivery period is 227.75 cents/lb (down 0.63%); the December 2024 delivery period is 226.55 cents/lb (down 0.70%); the March 2025 delivery period is 225.55 cents/lb (down 0.59%) and the May 2025 delivery period is 223.20 cents/lb, down 0.71%.
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| Coffee price today August 2, 2024: Brazilian Arabica coffee price. (Photo: Screenshot giacaphe.com) |
The price of Brazilian Arabica coffee decreased slightly on the morning of August 2, 2024. Specifically, the delivery period for September 2024 is 285.25 USD/ton (down 0.28%); the delivery period for December 2024 is 279.25 USD/ton (down 0.30%); the delivery period for March 2025 is 275.05 USD/ton and the delivery period for May 2025 is 271.40 USD/ton (down 0.6%).
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.
Excluding the inventory carried over from the 2022/2023 crop year, Vietnam currently has only about 210,000 tons of coffee left to export in the remaining 3 months of the 2023/2024 crop year (from July to the end of September), until the new crop year begins to be harvested in October this year.
The coffee market had anticipated the Fed’s decision to keep interest rates unchanged, so there was not much turmoil. Accordingly, at the end of the two-day policy meeting (July 30-31), the US Federal Reserve (Fed) decided to keep the reference interest rate unchanged for the 8th consecutive time, but forecasted that it could adjust in September.
Coffee futures extended losses on Thursday as supplies from Brazil improved. Forecasts of rain in the coming months have eased supply concerns, although prices remain at record highs for the time of year. Still, futures fell more than 8 percent to near a three-week low as traders assessed mild winter weather in Brazil.
Updated in July, Vietnam's coffee exports reached 70,000 tons, down nearly 36% compared to the same period in 2023. In the first 7 months of 2024, Vietnam's coffee exports reached 964,000 tons, down nearly 14% compared to the same period last year. Export turnover reached 3.54 billion USD, up 31% over the same period last year. The high export turnover despite the decrease in volume is due to coffee prices remaining high since the beginning of the year. Vietnam's coffee output in the 2023/2024 crop year is estimated at 1.47 million tons, down 20% compared to the 2022/2023 crop year. This is the lowest output in the past 4 years.
Information for reference only. Prices may vary depending on time and location.
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