Experts predict that coffee prices on November 7, 2024 will likely continue to fluctuate within a narrow range due to pressure from supply and fluctuations in the international market.

The recovery of Robusta coffee prices on the London floor has partly supported domestic coffee prices, helping to prevent a sharp decline. However, the abundant coffee supply in Vietnam during the main harvest season still puts considerable pressure on coffee prices.

Vietnam’s robusta harvest could help ease price pressure, but the smaller output may not be enough to restore global coffee supplies in the long term. Vietnam’s coffee production this year (including Arabica and Robusta) is expected to be around 26-27 million bags, down from the USDA’s May estimate of 5 million bags, as the impact of drought has yet to be fully assessed.

Coffee price forecast for November 7, 2024: Continue the uptrend

Recorded in the trading session on November 6, 2024, today’s coffee price increased by 400 – 500 VND/kg, ranging from 105.900 – 106.400 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 106.300 VND/kg, the highest purchase price in Dak Nong, Dak Lak, Gia Lai, Kon Tum provinces is 106.400 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 106.400 VND, an increase of 500 VND/kg compared to yesterday, in Pleiku and La Grai the same price is 106.300 VND/kg; In Kon Tum province, the price is 106.400 VND/kg, an increase of 500 VND/kg compared to yesterday; In Dak Nong province, coffee is purchased at the highest price of 106.400 VND/kg, an increase of 400 VND/kg compared to yesterday.

The price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at 105.900 VND/kg, an increase of 400 VND/kg compared to yesterday.

Domestic coffee price (date 6/11) in Dak Lak province; in Cu M’gar district, coffee is purchased at about 106.400 VND/kg, an increase of 400 VND/kg compared to yesterday, and in Ea H’leo district, Buon Ho town, coffee is purchased at the same price of 106.300 VND/kg.

Updated world coffee prices at 20:00 on November 6, 2024 Vietnam time on the London exchange, the price of Robusta coffee futures contract for monthly delivery January 2025 on the London exchange was at 4.267 USD/ton, down 105 USD compared to the beginning of the trading session.

Coffee price today November 6, 2024: Robusta coffee price on London floor. (Photo: Screenshot giacaphe.com

The monthly delivery term March 2025 is 4.205 USD/ton, down 98 USD; the monthly delivery term May 2025 is 4.146 USD/ton, down 98 USD and the monthly delivery term May 2025 is 4.074 USD/ton, down 97 USD.

Arabica coffee price on New York floor on November 6, 2024. (Photo: Screenshot of giacaphe.com)

Of which, the price of Arabica coffee on the New York floor at 20:00 on November 6, 2024 decreased in all terms, fluctuating at 241.20 – 245.20 cents/lb.

Specifically, the monthly delivery term December 2024 is 245.20 cents/lb; down 4.95 cents/lb compared to the beginning of the session. The monthly delivery term March 2025 is 244.60 cents/lb, down 4.80 cents/lb; the monthly delivery term May 2025 is 243.30 cents/lb, down 1.95 cents/lb and the monthly delivery term July 2025 is 241.20 cents/lb, down 4.80 cents/lb.

Brazilian Arabica coffee price on November 6, 2024.(Photo: Screenshot of giacaphe.com)

Brazilian Arabica coffee prices today at 21:00 p.m. November 6, 2024 increased and decreased in opposite directions. Specifically, the monthly delivery term December 2024 was 300.00 USD/ton, down 1.40%; the monthly delivery term March 2025 was 299.50 USD/ton, down 1.40%; the monthly delivery term May 2025 was 304.05 USD/ton, up 1.93% and the monthly delivery term July 2025 was 301.10 USD/ton, up 1.93%.

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.

Rains in key coffee-producing regions in October facilitated flowering, raising producers’ expectations for the 10-2025 crop, the Brazilian Agricultural Research Agency (CEPEA) said. However, concerns about crop development remain uncertain, given that coffee plants have been affected by high temperatures and a lack of rain for nearly six months in some areas.

The 2023-2024 crop failure, high prices and low yields have led to a high rate of sales this year, leaving inventories tight, raising concerns about coffee supplies until Brazil’s next crop.

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