Coffee prices on 10/12/2024: A sharp downturn

Coffee prices on October 12 globally

On the global market, both the London and New York exchanges saw a simultaneous decline on October 12.

Robusta prices on the London exchange for November 2024 delivery dropped by 86 USD (equivalent to 1.75%), settling at $ 4,828/ton. The January 2025 contract also saw a sharp decline of $ 64 (equivalent to 1.35%), reaching $ 4,678/ton.

Meanwhile, on the New York exchange, Arabica prices for December 2024 delivery decreased significantly by 2.7 cents (equivalent to 1.06%), dropping to 252.05 cents/lb. The March 2025 contract also fell by 2.7 cents (equivalent to 1.07%), standing at 250.75 cents/lb.

Global coffee prices saw a sharp decline today due to the rising USD and a weakening Brazilian real, leading to significant sell-offs by financiers in Brazil.

Additionally, news of rain in key coffee-growing regions in Brazil, combined with increased exports from South American countries, alleviated concerns about upcoming supply shortages, contributing to the further drop in prices.

Lastly, geopolitical tensions have yet to subside, prompting investors to withdraw from commodity exchanges and seek safe havens like gold. This shift has notably impacted coffee prices on both exchanges.

Thus, global coffee prices on 10/12/2024, sharply dropped compared to the previous day.

Coffee prices on October 12 domestically

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

In Lam Dong province, the districts of Di Linh, Bao Loc, and Lam Ha are trading at VND 112,500/kg.

In Dak Lak province, Cu M'gar district is purchasing at VND 113,200/kg, while Ea H'leo and Buon Ho are trading at VND 113,100/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are trading at VND 113,300/kg and VND 113,200/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 113,200/kg, while Pleiku and La Grai are both at VND 113,100/kg.

Meanwhile, in Kon Tum province, the coffee purchasing price is VND 113,200/kg today.

Domestic coffee prices also sharply declined today, bringing the commodity down to around VND 113,000/kg.

Thus, the domestic coffee market on 10/12/2024, is trading within the range of VND 112,500 - 113,300/kg.

$ 1 = VND 24.610 - Source: Vietcombank.