Coffee prices on 10/05/2024: The market rises sharply

Coffee prices on October 15 globally

In the global market, both the London and New York exchanges saw significant increases on October 15.

On the London exchange, Robusta prices for November 2024 delivery rose by $ 141 (equivalent to 2.92%), reaching $ 4,969/ton. The January 2025 contract also saw a sharp increase of $ 165 (equivalent to 3.53%), trading at $ 4,843/ton.

Meanwhile, on the New York exchange, Arabica prices for December 2024 delivery increased by 10 cents (equivalent to 3.97%), reaching 262.05 cents/lb. The March 2025 contract also surged by 9.8 cents (equivalent to 3.91%), reaching 260.55 cents/lb.

Global coffee prices rose sharply today. The rapid decline in stockpiles on both exchanges and the net long position from last week have driven strong price increases on both the London and New York exchanges.

Additionally, rainfall in Brazil has not met expectations, aiding the recovery of Arabica prices. According to the International Coffee Organization (ICO), Vietnam’s coffee exports decreased by 12.1% year-on-year during the first 11 months of the 2023/24 season, totalling only 24.09 million bags (1.445 million tons).

This suggests that, among the major global coffee suppliers, only Vietnam has experienced a true crop shortfall.

Thus, on 10/15/2024, global coffee prices remained unchanged from the previous day.

Coffee prices on October 15 domestically

In the domestic market, coffee prices surged by VND 800 compared to yesterday.

Specifically, in Lam Dong province, the three districts of Di Linh, Bao Loc, and Lam Ha are trading at the same price of VND 114,000/kg.

In Dak Lak province, Cu M'gar district is purchasing at VND 114,600/kg, while Ea H'leo and Buon Ho districts are trading at VND 114,500/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are buying at VND 114,700 and 114,600/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 114,600/kg, while Pleiku and La Grai are maintaining prices at VND 114,500/kg.

In Kon Tum province, the purchasing price today is VND 114,500/kg.

Domestic coffee prices have surged again today, nearing the VND 115,000/kg mark.

Thus, on 10/15/2024, domestic coffee prices are trading in the range of VND 114,000 - 114,700/kg.

$ 1 = VND 24.720 - Source: Vietcombank.