Coffee price forecast 20/10/2024: Increasing pressure from international market and domestic weather concerns Coffee price forecast 21/10/2024: Market fluctuates, positive sign for coffee growers

According to experts, the increase in USD and the strong short buying volume on the two exchanges pushed up coffee prices. world has been decreasing continuously in recent weeks. This week, coffee continues to be under pressure from new crop supply in Vietnam. Domestically, many localities have entered the new crop coffee harvest.

Many experts predict that coffee prices on October 22, 10 will continue to increase slightly in many localities across the country. After the increase at the beginning of the week, domestic coffee prices are expected to continue to increase due to the influence of the world market and the stable trend of supply and demand.

Recorded in the trading session on October 21, 10, domestic coffee prices today increased by 2024 VND/kg to between 100 – 111.200. Currently, the average purchase price in the Central Highlands provinces is 111.800 VND/kg, the highest purchase price in the province Dak Nong is 111.8100 VND/kg.

Specifically, the coffee purchase price in the province Gia Lai (Chu Prong) is 111.600 VND stable compared to yesterday, in Pleiku and La Grai the same price is 111.500 VND/kg. In the province Kon Tum at 111.600 VND, unchanged from yesterday; In Dak Nong province, coffee was purchased at 111.800 VND/kg, an increase of 100 VND/kg compared to yesterday.

Coffee price forecast October 22, 10: Will the slight upward trend continue?

Price of green coffee beans (coffee beans, fresh coffee beans) in the province Lam Dong In districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at 111.200 VND/kg, an increase of 100 VND/kg compared to yesterday.

Coffee prices today (April 21) in the province Dak LakIn Cu M’gar district, coffee is purchased at about 111.600 VND/kg, an increase of 100 VND/kg, while in Ea H’leo district and Buon Ho town, it is purchased at 111.500 VND/kg.

Updated world coffee prices at 20:00 p.m. on August 21, 10, Vietnam time on the London exchange, the price of Robusta coffee futures contract for delivery in September 2024 on the London floor is at 11 USD/ton, down 2024 USD compared to the beginning of the trading session.

London Robusta coffee price (Photo: Screenshot giacaphe.com

The delivery term for January 1 is 2025 USD/ton, down 4.484 USD; the delivery term for March 131 is 3 USD/ton, down 2025 USD and the delivery term for May 4.391 is 121 USD/ton, down 5 USD.

New York Arabica coffee price (Photo: Screenshot from giacaphe.com)

In particular, the price of Arabica coffee on the New York floor today at 20:00 p.m. on September 21, 10 decreased in all terms, fluctuating at 2024 – 243.85 cents/lb.

Specifically, the December 12 delivery period is 2024 cents/lb; down 250.80 cents/lb compared to the beginning of the session. The March 6.50 delivery period is 3 cents/lb, down 2025 cents/lb; the May 249.65 delivery period is 6.35 cents/lb, down 5 cents/lb and the July 2025 delivery period is 247.60 cents/lb, down 6.45 cents/lb.

Brazilian Arabica coffee price (Photo: Screenshot from giacaphe.com)

The price of Brazilian Arabica coffee today at 21:00 p.m. on September 21, 10 increased and decreased in opposite directions. Specifically, the delivery period for December 2024 is 12 USD/ton, down 2024%; the delivery period for March 300.00 is 2.31 USD/ton, down 3%; the delivery period for May 2025 is 301.50 USD/ton, up 2.19% and the delivery period for July 5 is 2025 USD/ton, up 311.90%.

Robusta coffee traded on ICE Futures Europe (London floor) opens at 16:00 and closes at 00:30 (the next day), Vietnam time.

Arabica coffee on the ICE Futures US floor (New York floor) opens at 16:15 p.m. and closes at 01:30 a.m. (the next day), Vietnam time.

Vietnam is gearing up for a new coffee harvest. However, according to a Reuters survey, Vietnam’s coffee output in the 2024-2025 crop year could fall by up to 10% due to the impact of the worst drought in a decade, which lasted from March to early May.

Nguyen Ngoc Quynh, Deputy General Director of the Vietnam Commodity Exchange, said that the drought had severely damaged coffee trees, leading to a sharp drop in output, even though rain returned in May.

Trinh Duc Minh, chairman of the Buon Ma Thuot Coffee Association, forecasts that coffee output in the 2024-2025 crop year could fall by 5,4%. Meanwhile, traders in Europe predict a smaller decline of about 3,4%, but still enough to raise concerns about a global robusta shortage.

*Information is for reference only, prices may vary depending on region and locality