Coffee prices on 10/24/2024: The market rebounds

Coffee prices on October 24 globally

On the global markets, both the London and New York exchanges are seeing a rebound on October 24.

In detail, Robusta prices on the London exchange for November 2024 delivery decreased slightly by $ 5 (or 0.11%) to $ 4,482/ton. Meanwhile, January 2025 contracts increased by $ 18 (or 0.41%), reaching $ 4,443/ton.

On the New York exchange, Arabica prices for December 2024 delivery surged by 2.5 cents (or 1%) to 252.35 cents/lb. For March 2025 contracts, prices increased by 2.3 cents (or 0.92%), standing at 251.05 cents/lb.

Global coffee prices are gradually recovering on October 24 after having fallen sharply in recent days, despite the US dollar remaining strong and significant declines in gold and crude oil prices.

The potential delay in the European Union's regulatory enforcement has reduced the urgency for buyers to engage in new transactions, making the market even quieter.

According to weather reports from Brazil, coffee-growing regions received good rainfall over the past week, and more rain is forecasted in Minas Gerais in the coming days.

However, consultancy firm Safras & Mercado urges caution, emphasizing that unfavorable weather conditions over the past few months will impact the development of the upcoming harvest.

Thus, global coffee prices on 10/24/2024, have slightly increased compared to yesterday.

Coffee prices on October 24 domestically

In the domestic market, coffee prices today, October 24, remain stable compared to the previous day.

In Lam Dong province, coffee in the districts of Di Linh, Bao Loc, and Lam Ha is being traded at VND 109,400/kg.

In Dak Lak, Cu M'gar district is purchasing coffee at VND 109,600/kg, while in Ea H'leo and Buon Ho districts, coffee is trading at VND 109,500/kg.

In Dak Nong, traders in Gia Nghia and Dak R'lap are conducting transactions at VND 109,700/kg and VND 109,600/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 109,600/kg, while in Pleiku and La Grai, coffee prices are holding steady at VND 109,500/kg.

In Kon Tum, coffee is being bought today at VND 109,600/kg.

Domestic coffee prices have stopped their decline and are now nearing the VND 110,000/kg mark.

Thus, on 10/24/2024, coffee prices domestically is trading around VND 109,400 - 109,700/kg.

$ 1 = VND 25.203 - Source: Vietcombank.