Experts forecast coffee prices on October 25, 2024 in the domestic market, coffee prices are expected to continue to increase in many localities, especially in the Central Highlands region.
The strong USD has pushed down the price of gold and crude oil. However, coffee has still recovered after falling too much in the previous days. The market has seen resistance as the new crop supply from Vietnam has not yet joined the transaction.
Dealers said foreign demand for Vietnamese coffee is declining, as many countries have secured coffee supplies from other sources, especially as the EU deforestation regulation is expected to come into effect by the end of 2024, a delay from the original plan.
Speculators are also reducing their net long positions ahead of the harvest in the world ’s top robusta producer, which is expected to accelerate sales next month. The European Union’s (EU) delay in implementing its anti-deforestation law, the EUDR, has reduced the urgency for new deals, further dampening the market.
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| Coffee price quote October 25, 2024: Arabica coffee tends to recover, Robusta continues to fluctuate |
According to experts, in the world market, Arabica coffee prices are likely to recover strongly, while Robusta tends to continue to fluctuate.
Recorded in the trading session on October 24, 2024, domestic coffee prices today dropped sharply by 1,600 - 1,900 VND/kg, ranging from 109,400 - 109,700 VND/kg. Currently, the average buying price in the Central Highlands provinces is 109,400 VND/kg, the highest buying price in Dak Nong province is 109,700 VND/kg.
Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 109,600 VND, down 1,800 VND/kg compared to yesterday, in Pleiku and La Grai the same price is 109,500 VND/kg; In Kon Tum province, the price is 109,600 VND/kg, down 1,800 VND/kg compared to yesterday; In Dak Nong province, coffee is purchased at the highest price of 109,700 VND/kg, down 1,900 VND/kg compared to yesterday.
The price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at 109,400 VND/kg, down 1,600 VND/kg compared to yesterday.
Coffee prices today (October 24) in Dak Lak province; in Cu M'gar district, coffee is purchased at about 109,600 VND/kg, down 1,800 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at the same price of 109,700 VND/kg.
Updated world coffee prices at 8:00 p.m. on October 24, 2024, Vietnam time on the London exchange, the price of Robusta coffee futures contract for delivery in November 2024 on the London exchange was at 4,487 USD/ton, down 90 USD compared to the beginning of the trading session.
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| Coffee price today October 24, 2024: Robusta coffee price on London floor. (Photo: Screenshot giacaphe.com |
The January 2025 delivery term is 4,425 USD/ton, down 78 USD; the March 2025 delivery term is 4,335 USD/ton, down 70 USD and the May 2025 delivery term is 4,263 USD/ton, down 61 USD.
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| Arabica coffee prices on the New York floor on October 24, 2024. (Photo: Screenshot giacaphe.com) |
In particular, the price of Arabica coffee on the New York floor today at 20:00 on October 24, 2024 decreased in all terms, fluctuating at 242.55 - 247.65 cents/lb.
Specifically, the December 2024 delivery period is 247.65 cents/lb; down 4.70 cents/lb compared to the beginning of the session. The March 2025 delivery period is 246.50 cents/lb, down 4.55 cents/lb; the May 2025 delivery period is 245.00 cents/lb, down 4.55 cents/lb and the July 2025 delivery period is 242.55 cents/lb, down 4.25 cents/lb.
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| Brazilian Arabica coffee price on October 24, 2024. (Photo: Screenshot giacaphe.com) |
The price of Brazilian Arabica coffee today at 9:00 p.m. on October 24, 2024 increased and decreased in opposite directions. Specifically, the delivery period for December 2024 is 301.65 USD/ton, down 0.66%; the delivery period for March 2025 is 302.15 USD/ton, down 0.80%; the delivery period for May 2025 is 305.90 USD/ton, up 1.02% and the delivery period for July 2025 is 302.15 USD/ton, up 1.05%.
Robusta coffee traded on the ICE Futures Europe (London exchange) opens at 16:00 and closes at 00:30 (next day), Vietnam time.
Arabica coffee on the ICE Futures US floor (New York floor) opens at 16:15 and closes at 01:30 (next day), Vietnam time.
The 2023-2024 crop year ended with a supply-demand balance tilted towards a surplus of 1 million bags. However, the 2024-2025 crop year coffee production is forecast to be heavily impacted by extreme weather factors. Therefore, coffee prices in the third quarter are expected to remain high, double that of the same period last year.
Industry insiders believe that coffee prices in the fourth quarter may be adjusted down due to additional supply from major coffee growing countries, including Vietnam.
*Information is for reference only, prices may vary depending on region and locality.
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