Coffee News July 02, 2024
2 thg 7, 2024
Domestic Coffee Price Situation:
Today, domestic coffee prices range from 120,200 to 121,500 VND/kg, with an average price of 121,300 VND/kg, a significant increase of 1,200 VND compared to the previous day. The highest buying price is in Dak Nong province at 121,500 VND/kg, while the lowest is in Lam Dong province at 120,200 VND/kg.
Global Coffee Situation
The world's leading Robusta coffee producer, Vietnam, has exported 902,000 tons of coffee in the first half of this year, a decrease of 10.6% compared to the previous year. Meanwhile, India's coffee exports have set new value records for the past three years and are expected to reach a new peak this year. Indian coffee farmers are benefiting as the global Robusta coffee supply is constrained due to drought in Vietnam, leading to a price surge.
The price of the September 2024 Arabica Coffee Contract has turned down. Specifically, the settlement price on July 1 was 224.85 cents/pound, a decrease of 0.86% compared to the previous session.
September 2024 Arabica Coffee Futures price quotes (KCEU24):
Date | Settlement Price (cent/pound) | Change (USD) | Change (%) |
|---|---|---|---|
6/21/2024 | 225.0 | ||
6/24/2024 | 236.25 | 11.25 | 5.00% |
6/25/2024 | 229.3 | -6.95 | -2.94% |
6/26/2024 | 224.35 | -4.95 | -2.16% |
6/27/2024 | 226.35 | 2.00 | 0.89% |
6/28/2024 | 226.8 | 0.45 | 0.20% |
7/1/2024 | 224.85 | -1.95 | -0.86% |
The price of the September 2024 Robusta Coffee Contract has turned sharply upward. Specifically, the settlement price on July 1 was 4,067 USD/ton, an increase of 1.4% compared to the previous session.
September 2024 Robusta Coffee Futures price quotes (LRCU24)
Date | Settlement Price (cent/pound) | Change (USD) | Change (%) |
|---|---|---|---|
6/21/2024 | 4,104 | ||
6/24/2024 | 4,252 | 148 | 3.61% |
6/25/2024 | 4,117 | -135 | -3.17% |
6/26/2024 | 4,059 | -58 | -1.41% |
6/27/2024 | 4,047 | -12 | -0.30% |
6/28/2024 | 4,011 | -36 | -0.89% |
7/1/2024 | 4,067 | 56 | 1.40% |
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