Domestic coffee prices increased slightly; world coffee prices increased and decreased in mixed directions.

Domestic coffee prices were updated at 4:30 a.m. on July 30, 2024 as follows, according to www.giacaphe.com, domestic coffee prices increased slightly by 100 VND compared to yesterday, ranging from 123,500 to 124,100 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 123,900 VND/kg, the highest purchase price in Dak Nong province is 124,100 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 123,800 VND, in Pleiku and La Grai the same price is 123,700 VND/kg; in Kon Tum province, coffee is purchased at 123,800 VND/kg; in Dak Nong province, coffee is purchased at the highest price of 124,100 VND/kg.

Coffee price today July 30, 2024: Domestic price slightly increased; world coffee price increased and decreased in mixed directions

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 123,500 VND/kg.

Coffee prices today, July 30, in Dak Lak province; in Cu M'gar district, coffee is purchased at about 123,900 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at the same price of 123,800 VND/kg.

Coffee prices in Vietnam have consistently been double the same period last year, at over VND120,000, and at times reached VND130,000/kg due to a shortage of supply. Since April, coffee exports have been decreasing month by month. Specifically, coffee exports in May decreased by 47%, June by 11.5%, and July by 50.4% compared to the previous month. Export output is forecast to continue to decrease for another 3 months, until the new crop begins to be harvested in October and November.

World coffee prices at dawn on July 30, 2024, at 4:30 am were updated on the Vietnam Commodity Exchange MXV.

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:

Coffee price today July 30, 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 July 30, 2024 at 4:30 a.m. increased and decreased in opposite directions at 3,870 - 4,275 USD/ton. Specifically, the delivery period for September 2024 was 4,275 USD/ton (down 27 USD/ton); the delivery period for November 2024 was 4,130 USD/ton (down 20 USD/ton); the delivery period for January 2025 was 3,980 USD/ton (down 4 USD/ton) and the delivery period for March 2025 was 3,870 USD/ton (up 21 USD/ton).

Coffee price today July 30, 2024: New York Arabica coffee price (Photo: Screenshot giacaphe.com

Arabica coffee prices on the New York floor on the morning of July 30, 2024 increased from 226.90 - 230.40 ent/lb. Specifically, the September 2024 delivery period is 230.40 cents/lb (up 0.07%); the December 2024 delivery period is 229.40 cents/lb (up 0.11%); the March 2025 delivery period is 228.60 cents/lb (up 0.31%) and the May 2025 delivery period is 226.25 cents/lb (up 0.27%).

Coffee price today July 30, 2024: Brazilian Arabica coffee price. (Photo: Screenshot giacaphe.com)

Brazilian Arabica coffee prices increased and decreased in different directions on the morning of July 30, 2024. Specifically, the September 2024 delivery period was 289.65 USD/ton (up 0.56%); the December 2024 delivery period was 283.20 USD/ton (up 0.34%); the March 2025 delivery period was 277.35 USD/ton (down 1.98%) and the May 2025 delivery period was 274.30 USD/ton (down 1.90%).

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.

Favorable weather in Vietnam and Brazil has eased concerns about next season’s coffee output. However, in the longer term, climate change is expected to cause a sharp decline in 2024/25 coffee output.

As of July 23, 2024, Brazil’s coffee harvest was 81% complete. Mexico and Central America’s export seasons are coming to an end, with supplies tightening.

Citi has revised down its forecasts for this crop year in both Vietnam and Brazil. The global market now sees a surplus of 100,000 60kg bags in 2023/24. It now expects Arabica prices to average $2.45/lb in Q3, 10 US cents higher than its previous forecast.

As the world's largest Robusta exporter, Vietnam's coffee supply is currently limited, both among the people and in business reserves.

Coffee is currently the main export item, accounting for more than 82.5% of Gia Lai's total export turnover. Since the beginning of the year, coffee export activities have been actively supported by price factors. Increased world market demand in some major markets such as the EU, the US, etc. has created momentum for coffee export turnover to increase sharply.

According to the USDA, global coffee production in the 2023/24 crop year as of September 30 is estimated at 169.2 million bags (60kg), down 2.2 million bags from the previous forecast. Exports in the same period are also forecast at only 119.5 million bags, down 0.4 million bags. Of which, Vietnam and Indonesia decreased by 2.6 million bags, Central America decreased by 2.7 million bags but Brazil increased by 2 million bags. End-of-season inventories are at around 23.9 million bags.

Information for reference only. Prices may vary depending on time and location.

Source: https://congthuong.vn/gia-ca-phe-hom-nay-3072024-trong-nuoc-tang-nhe-ca-phe-the-gioi-tang-giam-trai-chieu-335616.html