Coffee News June 24, 2024
24 thg 6, 2024
Domestic Coffee Prices
Today, domestic coffee prices range between 122,000 and 123,200 VND/kg, down 200 VND from the end of yesterday. The highest buying price is in Dak Nong Province at 123,200 VND/kg, while the lowest is in Lam Dong Province at 122,000 VND/kg.
Global Coffee Situation
The USDA forecasts a 4.2% increase in global coffee production for the 2023/24 season, with Arabica coffee production rising by 10.7% and Robusta coffee production decreasing by 3.3%. However, Vietnam's Robusta coffee production for the 2024/2025 season (from October 2023 to May 2024) is expected to reach only 24 million bags, the lowest in 13 years.
The September 2024 Arabica Coffee Contract saw a significant decline, with the settlement price on June 21 being 225 cents/pound, down 2.32% from the previous session.
Arabica Coffee September 2024 Contract Price (KCEU24)
Date | Settlement Price (cent/pound) | Change (USD) | Change (%) |
6/13/2024 | 226.25 | ||
6/14/2024 | 224.4 | -1.85 | -0.82% |
6/17/2024 | 227.3 | 2.90 | 1.29% |
6/18/2024 | 226.25 | -1.05 | -0.46% |
6/19/2024 | 226.25 | 0.00 | 0.00% |
6/20/2024 | 230.35 | 4.10 | 1.81% |
6/21/2024 | 225.0 | -5.35 | -2.32% |
The September 2024 Robusta Coffee Contract also saw a significant decline. Specifically, the settlement price on June 21 was $4,104 per ton, down 1.72% from the previous session.
Robusta Coffee September 2024 Contract Price (LRCU24)
Date | Settlement Price (cent/pound) | Change (USD) | Change (%) |
|---|---|---|---|
6/13/2024 | 4,093 | ||
6/14/2024 | 4,009 | -84 | -2.05% |
6/17/2024 | 4,057 | 48 | 1.20% |
6/18/2024 | 3,994 | -63 | -1.55% |
6/19/2024 | 4,060 | 66 | 1.65% |
6/20/2024 | 4,176 | 116 | 2.86% |
6/21/2024 | 4,104 | -72 | -1.72% |
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