Coffee prices on November 15, 2024: Continuing to rise sharply

Coffee prices on November 15 globally

Globally, both the London and New York exchanges have seen significant increases on November 15.

On the London exchange, Robusta futures for January 2025 delivery surged by $ 145 (equivalent to 3.13%), reaching $ 4,777/ton. The March 2025 contract also rose by $ 143 (equivalent to 3.14%), to $ 4,695/ton.

Meanwhile, on the New York exchange, Arabica futures for December 2024 saw a strong increase of 7.3 cents (equivalent to 2.69%), reaching 278.95 cents/lb. The March 2025 contract rose further by 8.2 cents (equivalent to 3.02%), reaching 279.40 cents/lb.

The global coffee prices are still experiencing strong growth today.

The EU has officially decided to delay the enforcement of the EUDR (EU Deforestation Regulation) by one year. Despite this, the market continues to rise. The reason for this is speculation driving up prices and Brazilian farmers tightening supply due to a weaker local currency against the USD.

Additionally, the forecast for continued hot and dry weather in Minas Gerais, the largest Arabica-producing region in Brazil, is also helping push Arabica prices higher.

Meanwhile, the main focus of the coffee market remains the EUDR regulation. On November 14, the European Commission presented a proposal to the European Parliament to delay the enforcement of the anti-deforestation law by one year.

Thus, global coffee prices on November 15, 2024, continue their upward trend compared to yesterday.

Coffee prices on November 15 domestically

In the domestic market, coffee prices today, November 15, have increased by VND 800 compared to yesterday.

Specifically, in Lam Dong Province, the districts of Di Linh, Bao Loc, and Lam Ha are trading at VND 111,800/kg.

In Dak Lak Province, Cu M'gar district is purchasing coffee at VND 112,000/kg, while Ea H'leo and Buon Ho are trading at VND 111,900/kg.

In Dak Nong Province, traders in Gia Nghia and Dak R'lap are offering VND 112,200 and VND 112,100/kg, respectively.

In Gia Lai Province, Chu Prong district is trading at VND 112,000/kg, while Pleiku and La Grai are holding at VND 111,900/kg.

The coffee purchase price in Kon Tum today is VND 111,900/kg.

The domestic coffee price today has increased for the fourth consecutive day, reaching the level of VND 112,000/kg.

Thus, the domestic coffee price on November 15, 2024, is trading around VND 111,800 - 112,200 VND/kg.

$ 1 = VND 25.160 - Source: Vietcombank.