Coffee News August 06, 2024
6 thg 8, 2024
Domestic Coffee Prices Situation:
Today's domestic coffee prices range from 120,000 to 120,500 VND/kg, with an average of 120,400 VND/kg, down sharply by 2,000 VND compared to yesterday. The highest buying price is in Dak Nong, Dak Lak, and Gia Lai provinces at 120,500 VND/kg, while the lowest is in Lam Dong province at 120,000 VND/kg.
Global Coffee Market Situation
On August 6, the coffee prices on both the London and New York exchanges saw a sharp decline. According to experts, geopolitical tensions in the Middle East, fears of a U.S. economic recession, and hurricanes in Florida have collectively thrown the global financial markets into panic at the start of the week.
The price of the September 2024 Arabica Coffee Futures Contract turned downward. Specifically, the settlement price on August 5 was 225.7 cents per pound, down 2.08% compared to the previous session.
September 2024 Arabica Coffee Futures price quotes (KCEU24)
Date | Settlement Price (cent/pound) | Change (USD) | Change (%) |
|---|---|---|---|
7/26/2024 | 230.25 | ||
7/29/2024 | 230.4 | 0.15 | 0.07% |
7/30/2024 | 230.8 | 0.40 | 0.17% |
7/31/2024 | 229.2 | -1.60 | -0.69% |
8/1/2024 | 227.25 | -1.95 | -0.85% |
8/2/2024 | 230.5 | 3.25 | 1.43% |
8/5/2024 | 225.7 | -4.80 | -2.08% |
The September 2024 Robusta Coffee Futures Contract also declined following Arabica. Specifically, the settlement price on August 5 was $4,175 per ton, down 1.23% compared to the previous session.
September 2024 Robusta Coffee Futures price quotes (LRCU24)
Date | Settlement Price (cent/pound) | Change (USD) | Change (%) |
|---|---|---|---|
7/26/2024 | 4,302 | ||
7/29/2024 | 4,267 | -35 | -0.81% |
7/30/2024 | 4,266 | -1 | -0.02% |
7/31/2024 | 4,261 | -5 | -0.12% |
8/1/2024 | 4,225 | -36 | -0.84% |
8/2/2024 | 4,227 | 2 | 0.05% |
8/5/2024 | 4,175 | -52 | -1.23% |
Source: Multiple sources
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