Experts predict that coffee prices on November 8, 2024 may continue to fall due to the US dollar reaching a four-month high, pushing coffee prices down, and fluctuations in the international market.

The US dollar surged to a four-month high after the White House officially opened for Donald Trump to return. With the US presidential election almost over, the market expects Mr. Trump’s policies on immigration, tariffs and trade to boost US growth.

Commenting on the market this week, industry insiders said that Robusta coffee prices calculated according to the monthly price January 2025 are forecast to continue to decrease with the target level possibly being 3.946 USD/ton. At this support level, the Robusta market can find buying and it is not excluded that the price will bounce back from here. However, if this level fails, Robusta prices can go down to 3.800 USD/ton.

For the December 2014 arabica coffee price, there is a lot of room for further declines and a possible technical low of 235,30 cents/lb. This is a level that should find some buying demand on a technical basis.

However, in the long term, the impact of the heat wave and prolonged lack of irrigation water occurring in the first months of 2024, coinciding with the time when coffee trees flower and bear fruit, has caused some coffee gardens to have wilted leaves, dry flowers, and young fruits, reducing productivity and output.

Recorded in the trading session on November 7, 2024, today’s coffee price increased by 600 VND/kg, ranging from 106.500-107.000 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 106.800 VND/kg, the highest purchase price in Dak Nong, Dak Lak, Gia Lai, Kon Tum provinces is 107.000 VND/kg.

Coffee price forecast for November 8, 2024: Domestic price continues to decrease, will the world price increase again?

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 107.000 VND, an increase of 600 VND/kg compared to yesterday, in Pleiku and La Grai the same price is 106.900 VND/kg; In Kon Tum province, the price is 107.000 VND/kg, an increase of 600 VND/kg compared to yesterday; In Dak Nong province, coffee is purchased at the highest price of 107.000 VND/kg, an increase of 600 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 106.500 VND/kg, an increase of 600 VND/kg compared to yesterday.

Domestic coffee price (date 7/11) in Dak Lak province; in Cu M’gar district, coffee is purchased at about 107.000 VND/kg, an increase of 600 VND/kg compared to yesterday, and in Ea H’leo district, Buon Ho town, it is purchased at the same price of 106.900 VND/kg.

Updated world coffee prices at 20:00 on November 7, 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 4.425 USD/ton, up 118 USD compared to the beginning of the trading session.

Coffee price today November 7, 2024: Robusta coffee price on London floor. (Photo: Screenshot giacaphe.com

The monthly delivery term March 2025 is 4.363 USD/ton, up 115 USD; the monthly delivery term May 2025 is 4.302 USD/ton, up 113 USD and the monthly delivery term July 2025 is 4.222 USD/ton, up 107 USD.

Arabica coffee price on New York floor on November 7, 2024. (Photo: Screenshot of giacaphe.com)

Of which, the price of Arabica coffee on the New York floor at 20:00 on November 7, 2024 increased in all terms, fluctuating at 252.60 – 257.30 cents/lb.

Specifically, the monthly delivery term December 2024 is 257.30 cents/lb; up 8.55 cents/lb compared to the beginning of the session. The monthly delivery term March 2025 is 256.4560 cents/lb, up 8.40 cents/lb; the monthly delivery term May 2025 is 254.90 cents/lb, up 8.20 cents/lb and the monthly delivery term July 2025 is 252.60 cents/lb, up 8.05 cents/lb.

Brazilian Arabica coffee price on November 7, 2024.(Photo: Screenshot of giacaphe.com)

Brazilian Arabica coffee prices today at 21:00 p.m. November 7, 2024 increased and decreased in opposite directions. Specifically, the monthly delivery term December 2024 was 313.00 USD/ton, up 3.01%; the monthly delivery term March 2025 was 312.30 USD/ton, up 3.04%; the monthly delivery term May 2025 was 302.15 USD/ton, down 0.62% and the monthly delivery term July 2025 was 299.20 USD/ton, down 0.63%.

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.

Commenting on the current market, the Vietnam Coffee and Cocoa Association (Vicofa) said that product prices turning down is a common occurrence during the harvest season. In addition, the European Union has postponed anti-deforestation regulations for another 12 months, reducing supply pressure.

However, coffee prices will only fall in the short term. Vietnam’s coffee output this year is forecast to fall by about 10% due to heat and drought in some Central Highlands regions reducing productivity, while inventories from the previous crop have been depleted.

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