Coffee prices on 10/29/2024: Global markets surge

Coffee prices on October 29 globally

On the global market, both the London and New York exchanges saw significant increases on October 29.

For Robusta on the London exchange, the November 2024 contract rose by $ 91 (equivalent to 2.06%), reaching $ 4,502/ton. The January 2025 contract increased by $ 87 (equivalent to 2.01%), to $ 4,410/ton.

On the New York exchange, Arabica prices for December 2024 surged by 3.95 cents (equivalent to 1.59%), reaching 252.35 cents/lb. The March 2025 contract also rose by 3.85 cents (equivalent to 1.56%), to 251.35 cents/lb.

Global coffee prices rose sharply as concerns over supply intensified.

The recent news of storm Tra Mi, which brought heavy rain from Ha Tinh to Binh Dinh and the northern Central Highlands of Vietnam, is expected to delay the supply of pepper currently being harvested and reduce its availability on the market.

Meanwhile, rainfall in Brazil's coffee-growing regions has fallen below the multi-year average, raising concerns over future supply.

Thus, global coffee prices on 10/29/2024, have surged significantly compared to the previous day.

Coffee prices on October 29 domestically

In the domestic market, coffee prices have risen slightly by VND 200 compared to the previous day.

In Lam Dong province, the districts of Di Linh, Bao Loc, and Lam Ha are trading at the same rate of VND 109,500/kg.

In Dak Lak, Cu M'gar district is purchasing coffee at VND 110,000/kg, while Ea H'leo and Buon Ho districts are trading at VND 109,900/kg.

In Dak Nong, traders in Gia Nghia and Dak R'lap are buying coffee at VND 110,100 and VND 110,000 /kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 109,800/kg, with Pleiku and La Grai both holding steady at VND 109,700/kg. Coffee in Kon Tum province is being purchased today at VND 109,800/kg.

Domestic coffee prices rose slightly today, edging up to VND 111,000/kg.

Thus, on 10/29/2024, domestic coffee prices are trading in the range of VND 109,500 - 111,000/kg.

$ 1 = VND 25.134 - Source: Vietcombank.