Coffee prices on 10/04/2024: The market is covered in 'red'

Coffee prices on October 4 globally

On the global market, both the London and New York exchanges continue to show a sharp downward trend.

Specifically, Robusta prices on the London exchange for November 2024 delivery dropped by $ 190 (equivalent to 3.72%), to $ 4,921/ton. The January 2025 contract also fell by $ 142 (equivalent to 2.92%), settling at $ 4,720/ton.

Meanwhile, on the New York exchange, Arabica prices for December 2024 delivery decreased by 4.45 cents (equivalent to 1.73%), reaching 252.05 cents/lb. The March 2025 contract saw a sharp drop of 4.25 cents (equivalent to 1.67%), settling at 250.50 cents/lb.

Global coffee prices today continue to be engulfed in a "sea of red." In just two days, Robusta prices have dropped by more than $ 500.

The European Commission has proposed a one-year delay in the anti-deforestation law due to pressure from several countries, including Germany and Brazil, as well as from coffee-importing businesses in Europe. This news has significantly impacted prices on both the London and New York exchanges.

Additionally, the recovery of the USD is putting pressure on the market as recent data show the U.S. economy remains resilient ahead of the jobs report due today, October 4. There is also sustained demand for safe-haven assets due to growing concerns over rising tensions in the Middle East.

At the time of the survey, the DXY index, which measures the U.S. dollar's movement against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), has risen to 101.94.

Thus, global coffee prices on 10/04/2024, continue to plunge compared to yesterday.

Coffee prices on October 4 domestically

In the domestic market, coffee prices continued their sharp decline today, October 4.

Specifically, in Lam Dong province, the three districts of Di Linh, Bao Loc, and Lam Ha are trading at VND 114,300/kg.

In Dak Lak province, Cu M'gar district is buying at VND 115,200/kg, while Ea H'leo and Buon Ho districts are trading at VND 115,100/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are trading at VND 114,300 and VND 114,200/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 114,200/kg, while Pleiku and La Grai are holding at VND 114,100/kg.

Meanwhile, in Kon Tum, the buying price is VND 114,200/kg.

Domestic coffee prices today have plummeted by VND 5,400, causing this agricultural product to sharply fall to the level of VND 115,000/kg.

Thus, domestic coffee prices on 10/04/2024, are trading around VND 114,100 - 115,200/kg.

$ 1 = VND 24.550 - Source: Vietcombank.