Coffee prices on 10/07/2024: No new fluctuations

Coffee prices on October 7 globally

Globally, both the London and New York exchanges showed no new fluctuations on October 7.

Specifically, Robusta prices on the London exchange for November 2024 delivery held steady at $ 5,067/ton, while the January 2025 contract remained at $ 4,859/ton.

On the New York exchange, Arabica prices for December 2024 delivery stayed unchanged at 257.35 cents/lb, and the March 2025 contract maintained at 255.65 cents/lb.

Global coffee prices remained stable today. However, over the past week, both the London and New York exchanges saw significant declines.

Robusta futures for November delivery dropped by $ 415/ton, while Arabica futures for December delivery fell sharply by 11.8 cents/lb.

Thus, on 10/07/2024, global coffee prices are holding steady compared to the previous day.

Coffee prices on October 7 domestically

In the domestic market, coffee prices remain unchanged from the previous day.

In Lam Dong province, Di Linh, Bao Loc, and Lam Ha districts are trading at VND 115,500/kg.

In Dak Lak province, Cu M'gar district is purchasing at VND 116,200/kg, while Ea H'leo and Buon Ho districts are trading at VND 116,100/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are offering VND 116,200 and VND 116,100/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 116,100/kg, with Pleiku and La Grai districts both holding at VND 116,000/kg.

In Kon Tum province, the purchase price today stands at VND 116,000/kg.

Domestic coffee prices today showed no new fluctuations, with the highest level remaining at VND 116,200/kg.

Over the past week, the domestic coffee market continued its steep decline, losing an additional VND 6,000 (after already dropping by VND 2,000 the previous week).

According to the latest estimates from the General Statistics Office, Vietnam's coffee exports in September 2024 reached 52,464 tons, valued at $ 287 million. This represents a significant decrease of 31.2% in volume and 28.7% in value compared to the previous month. However, compared to the same period last year, exports increased by 3% in volume and an impressive 70.1% in value.

In total, coffee exports in Q3/2024 reached 214,935 tons, valued at $ 1.12 billion, down 12.1% in volume but up 52.6% in value compared to Q3/2023.

For the first nine months of the year, coffee exports are estimated at 1.1 million tons, valued at nearly $ 4.3 billion, a decline of 11.5% in volume but a substantial increase of 37.8% in value compared to the same period, thanks to higher prices.

The average export price of coffee in the first nine months of 2024 reached $ 3,889/ton, up 55.7% compared to the same period last year.

In September alone, the average export price of coffee hit a new record high of $ 5,469/ton, a 3.6% increase compared to the previous month and a 65.2% rise from the same period last year.

However, Vietnam’s coffee market remains sluggish as traders await supplies from the new 2024-2025 harvest.

Thus, on 10/07/2024, domestic coffee prices are trading around VND 115,500 - 116,200/kg.

$ 1 = VND 24.640 - Source: Vietcombank.