Coffee News August 08, 2024
8 thg 8, 2024
Domestic Coffee Prices Situation:
Today, domestic coffee prices fluctuate between 122,100 and 122,800 VND/kg, with an average price of 122,600 VND/kg, marking a significant increase of 1,900 VND compared to yesterday. The highest purchase price is recorded in the provinces of Đăk Lăk and Đăk Nông at 122,800 VND/kg, while the lowest price is in Lâm Đồng province at 122,100 VND/kg.
Global Coffee Market Situation
The prices of both types of coffee continue to rise sharply. Cooler weather forecasts in Brazil have led roasters to increase their purchases, pushing Arabica coffee prices to their highest level in nearly a month.
The price of the September 2024 Arabica coffee futures contract maintained a strong upward momentum. Specifically, the settlement price on August 7th was 246.3 cents per pound, marking an increase of 4.39% compared to the previous session.
September 2024 Arabica Coffee Futures price quotes (KCEU24)
Date | Settlement Price (cent/pound) | Change (USD) | Change (%) |
|---|---|---|---|
7/30/2024 | 230.8 | ||
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% |
8/6/2024 | 235.95 | 10.25 | 4.54% |
8/7/2024 | 246.3 | 10.35 | 4.39% |
Similarly, the price of the September 2024 Robusta coffee futures contract also continued to rise. The settlement price on August 7th was 4,481 USD/ton, reflecting an increase of 2.24% compared to the previous session.
September 2024 Robusta Coffee Futures price quotes (LRCU24)
Date | Settlement Price (cent/pound) | Change (USD) | Change (%) |
7/30/2024 | 4,266 | ||
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% |
8/6/2024 | 4,383 | 208 | 4.98% |
8/7/2024 | 4,481 | 98 | 2.24% |
Source: Multiple sources
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