Coffee prices on 11/06/2024: Continuing strong upward trend

Coffee prices on November 6 globally

On the global market, prices on both the London and New York exchanges continue to surge.

In London, Robusta prices for January 2025 delivery have risen by an additional $ 54 (up 1.25%), reaching $ 4,372/ton. The March 2025 contract also saw a strong increase of $ 54 (up 1.27%), standing at $ 4,303/ton.

Meanwhile, on the New York exchange, Arabica prices for December 2024 delivery jumped by 4.2 cents (up 1.71%), hitting 250.15 cents/lb. The March 2025 contract rose significantly by 4.45 cents (up 1.82%), settling at 249.40 cents/lb.

Global coffee prices have seen strong growth, with Robusta increasing by nearly $ 100/ton.

According to the Agricultural Research Agency at the University of Sao Paulo (CEPEA, Brazil), October rains in major coffee-growing regions have provided favourable conditions for coffee flowering, boosting producers' expectations for the 2025-2026 harvest.

However, many Brazilian farmers remain concerned about flower development due to prolonged high temperatures and drought in some areas, lasting nearly six months. The 2023/24 crop failure, high prices, and low productivity have led to high sales this year. Consequently, limited inventories are raising concerns over coffee supply until Brazil’s next harvest.

Thus, global coffee prices on 11/06/2024, have increased significantly compared to yesterday.

Coffee prices on November 6 domestically

In Vietnam, domestic coffee prices have risen by VND 500 from yesterday.

In Lam Dong Province, Di Linh, Bao Loc, and Lam Ha districts are trading at VND 106,500/kg.

In Dak Lak, Cu M'gar district is purchasing coffee at VND 107,000/kg, while Ea H'leo and Buon Ho are trading at VND 106,900/kg.

In Dak Nong, traders in Gia Nghia and Dak R'lap are trading at VND 107,000 and VND 106,900/kg, respectively.

In Gia Lai Province, Chu Prong is trading at VND 106,900/kg, with Pleiku and La Grai both at VND 106,800/kg.

In Kon Tum, coffee is being bought at VND 106,900/kg.

Domestic coffee prices today have increased for the second consecutive session, bringing this agricultural product back to the VND 107,000/kg mark.

Thus, domestic coffee prices on 11/06/2024, are trading around the range of VND 106,500 - 107,000/kg.

$ 1 = VND 25.140 - Source: Vietcombank.