Coffee prices on 11/01/2024: Another sharp decline

Coffee prices on November 1 globally

On the global market, both the London and New York exchanges have turned sharply downward.

Specifically, the price of Robusta on the London exchange for January 2025 delivery dropped by $ 84 (equivalent to 1.89%), reaching $ 4,369/ton. The March 2025 contract fell by $ 82 (equivalent to 1.88%), settling at $ 4,281/ton.

On the New York exchange, Arabica prices for December 2024 delivery fell sharply by 3.7 cents (equivalent to 2.48%), down to 245.90 cents/lb. The March 2025 contract decreased by 3.55 cents (equivalent to 1.43%), to 245.50 cents/lb.

Global coffee prices have sharply declined today following reports of continued rainfall in Brazil and the pressure of the new harvest in Vietnam.

Thus, global coffee prices on 11/01/2024, have fallen significantly compared to yesterday.

Coffee prices on November 1 domestically

Domestically, the coffee market today turned downward, with prices falling by VND 800 from the previous day.

Specifically, in Lam Dong Province, the districts of Di Linh, Bao Loc, and Lam Ha are all trading at VND 107,800/kg.

In Dak Lak Province, Cu M’gar district is purchasing coffee at VND 108,200/kg, while Ea H’leo and Buon Ho are trading at VND 108,100/kg.

In Dak Nong Province, traders in Gia Nghia and Dak R’lap are buying at VND 108,20 VND/kg and VND 108,100/kg, respectively.

In Gia Lai Province, Chu Prong district is trading at VND 108,100/kg, while Pleiku and La Grai are maintaining a price of VND 108,000/kg.

In Kon Tum Province, the purchase price for coffee today stands at VND 108,100/kg.

According to Vicofa, total coffee exports in the 2023/24 crop year reached approximately 1.45 million tons, primarily consisting of Robusta, with over 1.2 million tons.

Thus, domestic coffee prices on 11/01/2024, are trading around the range of VND 107,800 - 108,200/kg.

$ 1 = VND 25.084 - Source: Vietcombank.