November 8, 2024 | 18:39 GMT +7

  • Click to copy
Tuesday- 12:37, 16/07/2024

Coffee prices on 07/16/2024: Market simultaneously drops

(VAN) Coffee prices on 07/16/2024 turned downwards. Domestic coffee prices have decreased by VND 500, trading around the range of VND 127,500 to 128,100/kg.
Update on domestic and global coffee prices on 07/16/2024

Update on domestic and global coffee prices on 07/16/2024

Coffee prices on July 16 globally

On the global market, both the London and New York exchanges turned downwards on July 16.

Specifically, Robusta prices on the London exchange for September 2024 delivery decreased slightly by $ 34 to $ 4,583/ton. The November 2024 contract dropped $ 44 to $ 4,397/ton.

Meanwhile, on the New York exchange, Arabica prices for September 2024 delivery fell sharply by 6.6 cents to 242.15 cents/lb. The December 2024 contract also declined by 6.4 cents to 240.40 cents/lb.

Latest prices for Arabica and Robusta coffee on 07/16/2024

Latest prices for Arabica and Robusta coffee on 07/16/2024

Global coffee prices are slightly decreasing on the London market and significantly decreasing on the New York market. According to experts, this downward trend is a natural consequence of last week's strong increase. Hedge funds and speculators bought too much, and now they are selling off to rebalance their portfolios.

Additionally, the strengthening USD has further exacerbated the decline in Arabica prices. As of the latest update, the DXY index, which measures the dollar against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), has increased by 0.16% to 104.26.

Michael McDougall, Managing Director at Paragon Global Markets, noted that producer inventories have been declining over the past few years. This demands a bumper crop from Brazil this year to meet domestic demand and export needs over the next 12 months.

Brazil's main ports continue to report limited container availability and changes in shipping routes, leading to delivery delays.

Premium Arabica futures prices have risen about 30% this year due to a shortage of cheaper Robusta beans, driven by demand from Starbucks Corp. and Nestle SA's Nespresso brands.

VICOFA forecasts that Vietnam's coffee exports will gradually decline from now until September due to depleted supply.

According to Bloomberg, the supply shortage is expected to continue pushing coffee prices up until mid-2025. European consumers may have to pay more for their coffee due to increasingly stringent import regulations.

Global demand for Robusta coffee, especially in the European Union, is sharply rising. Many European roasters are accelerating their imports to avoid being affected by the EU's Forest Law Enforcement, Governance, and Trade Regulation (EUTR), which takes effect in January 2025. This indicates a bright outlook for coffee prices in the near future.

Thus, on 07/16/2024, global coffee prices have uniformly decreased compared to yesterday.

Coffee prices on July 16 domestically

In Vietnam, the domestic coffee market on July 16 has seen a slight decrease compared to yesterday.

Specifically, in Lam Dong province, the districts of Di Linh, Bao Loc, and Lam Ha are trading at VND 127,500/kg.

In Dak Lak province, Cu M'gar district is purchasing at VND 128,000/kg, while Ea H'leo and Buon Ho districts are trading at VND 128,000/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are trading at VND 128,100/kg and VND 128,000/kg, respectively.

In Gia Lai province, Chư Prong district is trading at VND 128,000/kg, while Pleiku and La Grai districts are both trading at VND 127,900/kg.

In Kon Tum province, the purchase price today is VND 127,900/kg.

The domestic coffee price today also decreased slightly by VND 500, posing a risk of not maintaining the threshold of VND 128,000/kg. Meanwhile, domestic pepper prices remain stable at around VND 150,000 - 151,000/kg.

Thus, domestic coffee prices on 07/16/2024 are trading around VND 127,500 - 128,100/kg.

$ 1 = VND 25.207 - Source: Vietcombank.

Author: Bang Nghiem

Translated by Hoang Duy

Live pig prices on 11/06/2024: Mixed increases and decreases

Live pig prices on 11/06/2024: Mixed increases and decreases

(VAN) Live pig prices on 11/06/2024, fluctuate by VND 1,000 - 2,000. The live pig market in all three regions is trading around VND 58,000 - 64,000/kg.

Pepper prices on 11/06/2024: VND 1000 decrease in Ba Ria-Vung Tau

Pepper prices on 11/06/2024: VND 1000 decrease in Ba Ria-Vung Tau

(VAN) Pepper prices on 11/06/2024, decreased by VND 1,000 in Ba Ria Vung Tau. Currently, domestic pepper prices are trading around VND 140,000 - 141,000/kg.

Coffee prices on 11/06/2024: Continuing strong upward trend

Coffee prices on 11/06/2024: Continuing strong upward trend

(VAN) Coffee prices on 11/06/2024 continue to rise. Domestic coffee prices have increased by VND 500, reaching a range of VND 106,500 - 107,000/kg.

Pepper prices on 11/05/2024: Still holding at VND 141,000/kg

Pepper prices on 11/05/2024: Still holding at VND 141,000/kg

(VAN) Pepper prices on 11/05/2024 showed no new fluctuations. Domestic pepper prices remain steady, trading around VND 140,000 - 141,000/kg.

Live pig prices on 11/05/2024: Continues to increase slightly

Live pig prices on 11/05/2024: Continues to increase slightly

(VAN) Live pig prices on 11/05/2024, have increased by VND 1,000. Currently, the live pig market in the three regions is trading around VND 58,000 - 64,000/kg.

Coffee prices on 11/05/2024: Slight increase again

Coffee prices on 11/05/2024: Slight increase again

(VAN) Coffee prices on 11/05/2024, show a significant increase. Domestic coffee prices have inched up by VND 200, trading around VND 106,000 - 106,500/kg.

Coffee prices on 11/03/2024: 5th consecutive week of decline

Coffee prices on 11/03/2024: 5th consecutive week of decline

(VAN) Coffee prices on 11/03/2024, remain at VND 105,800 - 106,200/kg. Domestic coffee prices dropped by VND 3,500, marking the 5th consecutive week of decline.

Read more