Coffee prices on 10/01/2024: experienced a slight increase

Coffee prices on October 1 globally

Global coffee prices on 10/01/2024 saw slight increases across both the London and New York exchanges.

On the London exchange, Robusta prices for November 2024 delivery increased by $ 16 (equivalent to 0.29%), reaching $ 5,498/ton, while January 2025 delivery prices rose by $ 22 (equivalent to 0.42%) to $ 5,225/ton.

Meanwhile, on the New York exchange, Arabica prices for December 2024 delivery edged up by 1.1 cents (equivalent to 0.41%) to 270.25 cents/lb, and March 2025 delivery increased by 1.05 cents (equivalent to 0.39%) to 267.95 cents/lb.

The global coffee prices on 10/01/2024, slightly increased at the beginning of the week, supported by weather information from Brazil and concerns over reduced production in the upcoming harvest in Vietnam.

According to estimates, starting from October 2024, when Vietnam enters the coffee harvest season, production will improve, and Vietnam's coffee export revenue could reach a record of $ 6 billion in 2024.

Brazil is facing the worst drought since 1981, and the weather forecast is not very promising. Forecast models show that the necessary rainfall to trigger the coffee flowering season will not come in significant amounts until mid-October.

If the rainfall is sufficient and evenly distributed in the coming weeks, the outlook may improve, but the damage caused by the drought to the crops is irreparable.

Thus, global coffee prices on 10/01/2024, have increased compared to yesterday.

Coffee prices on October 1 domestically

In the domestic market, coffee prices on October 1, saw a slight increase compared to yesterday.

Specifically, in Lam Dong province, the districts of Di Linh, Bao Loc, and Lam Ha are all trading at VND 121,300/kg.

In Dak Lak, the Cư M'gar district is currently buying at VND 122,300/kg, while the Ea H'leo and Buon Ho districts are trading at VND 122,200/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are trading at VND 121,300 and VND 121,200/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 121,300/kg, while Pleiku and La Grai are both holding steady at VND 121,200/kg.

The purchasing price of coffee in Kon Tum today is VND 121,300/kg.

Domestic coffee prices today increased slightly by VND 100 - 300 and are currently holding firm at VND 122,000/kg.

Thus, domestic coffee prices on 10/01/2024, are trading around the range of VND 121,300 - 122,300/kg.

$ 1 = VND 24.400 - Source: Vietcombank.