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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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