Experts predict that coffee prices on November 4, 2024 will continue to be under downward pressure due to the impact of the harvest in Vietnam and favorable weather conditions in Brazil.

According to analysts, strong exports of Robusta conilon from Brazil this season have contributed to the upward pressure on prices. Moreover, the weather has improved, with rains in Brazil’s main coffee growing regions in recent times, and coffee flowers have bloomed well in the month of October 2024, helping Brazil’s coffee crop recover after a prolonged dry period, signaling a positive harvest.

Coffee prices also fell sharply because Brazil’s local currency, the Real, weakened to its lowest level in nearly three months against the US dollar, prompting farmers to boost export sales.

November 4, 2024 Coffee Price Forecast: Domestic prices have decreased for the 5th consecutive week, what will the 2024-2025 crop year be like?

Vietnam’s supply has started to increase since this month, and the ongoing harvest has put downward pressure on robusta coffee prices. The recent storm No. 6 did not cause much damage, nor did it slow down the progress of the harvest of the growers.

Meanwhile, Indonesia’s Sumatra robusta exports increased well in the month of September 2024. The Asian producer’s robusta exports in September were 9 bags, up 159.918% year-on-year. This contributed to the island’s total Robusta exports in the first six months of 76,36 being 6% higher year-on-year, totaling 2024 bags.

Recorded in the trading session on November 3, 2024, today’s coffee price dropped sharply by 1.200 – 1.300 VND/kg, ranging from 106.000 – 106.500 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 106.500 VND/kg, the highest purchase price in the province Dak Nong, Dak Lak 106.500 VND/kg. Specifically, the coffee purchase price in the province Gia Lai (Chu Prong) is 106.400 VND, down 1.200 VND/kg compared to the previous day, in Pleiku and La Grai the same price is 106.300 VND/kg; in the province Kon Tum at the price of 106.400 VND/kg, down 1.200 VND/kg compared to the previous day; In Dak Nong province, coffee was purchased at the highest price of 106.500 VND/kg, down 1.200 VND/kg compared to the previous day.

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 was purchased at 106.000 VND/kg, down 1.300 VND/kg compared to the previous day.

Domestic coffee price (date 3/11) in Dak Lak province; in Cu M’gar district, coffee is purchased at about 106.500 VND/kg, down 1.200 VND/kg, while in Ea H’leo district and Buon Ho town, coffee is purchased at the same price 107.600 VND/kg.

Coffee price update world At 20:00 on November 3, 2024 Vietnam time on the London exchange, the price of Robusta coffee futures contract for monthly delivery November 2024 on the London exchange was at 4.279 USD/ton, down 90 USD compared to the beginning of the trading session.

Coffee price today November 3, 2024: Robusta coffee price on London floor. (Photo: Screenshot giacaphe.com

The monthly delivery term January 2025 is 4.208 USD/ton, down 73 USD; the monthly delivery term March 2025 is 4.150 USD/ton, down 66 USD and the monthly delivery term May 2025 is 4.075 USD/ton, down 70 USD.

Arabica coffee price on New York floor on November 3, 2024. (Photo: Screenshot of giacaphe.com)

Of which, the price of Arabica coffee on the New York floor at 20:00 on November 3, 2024 decreased in all terms, fluctuating at 239.20 – 242.95 cents/lb.

Specifically, the monthly delivery term December 2024 is 242.95 cents/lb; down 2.95 cents/lb compared to the beginning of the session. The monthly delivery term March 2025 is 242.40 cents/lb, down 3.10 cents/lb; the monthly delivery term May 2025 is 241.35 cents/lb, down 3.10 cents/lb and the monthly delivery term July 2025 is 239.20 cents/lb, down 2.95 cents/lb.

Brazilian Arabica coffee price on November 3, 2024.(Photo: Screenshot of giacaphe.com)

Brazilian Arabica coffee prices today at 21:00 p.m. November 3, 2024 increased and decreased in opposite directions. Specifically, the monthly delivery term December 2024 was 297.30 USD/ton, up 0.75%; the monthly delivery term March 2025 was 295.55 USD/ton, down 1.04%; the monthly delivery term May 2025 was 295.05 USD/ton, down 1.37% and the monthly delivery term July 2025 was 292.10 USD/ton, down 1.32%.

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.

Information for reference only. Prices may vary depending on locality.