• Gold price nurses losses below $2,650 early Tuesday, awaits US JOLTS survey for fresh impetus.   
• US Dollar recovers from Fedspeak-induced pain as market mood sours on China concerns, looming Trump tariffs threat.
• Technically, Gold price stays below the 21-day SMA at $2,641 with a bearish daily RSI.

Gold price is nursing losses below $2,650 in Asian trades on Tuesday, though remaining in the recent range, awaiting the key US employment data for further trading directives. The US JOLTS Job Openings data will set off the critical week of top-tier labor data, offering hints on the US Federal Reserve’s (Fed) future interest rate cuts.

Gold price awaits US data for fresh cues on the Fed policy

The focus now seems to have shifted toward the sentiment surrounding the Fed policy outlook following the latest speeches from several Fed policymakers and ahead of Friday’s Nonfarm Payrolls (NFP) data.

The US Dollar (USD) returned to the red in American trading on Monday after Fed Governor Christopher Waller said that “policy is still restrictive enough that an additional cut at our next meeting will not dramatically change the stance of monetary policy and allow ample scope to later slow the pace of rate cuts, if needed, to maintain progress toward our inflation target.”

The Greenback erased gains from the first half of Monday’s trading, spurred by broad risk-aversion as traders took account of US President-elect Donald Trump’s weekend warning against the so-called ‘BRICS’ nations. Trump threatened 100% tariffs on Brazil, Russia, India, China and South Africa if they create a new currency or support another currency that would replace the Greenback.

However, the revival of the haven demand for the USD early Tuesday keeps Gold buyers on the back seat. Persistent China’s economic concerns and the global tariff threat from Trump remain a drag on investors’ sentiment.

The next direction in Gold price will likely hinge on the upcoming US employment data and their impact on the Fed rate cut expectations. Markets are currently pricing in a 75% probability of a 25 basis points (bps) rate cut later this month, the CME Group’s FedWatch Tool shows, up from about 65% seen a day ago. Dovish Fed expectations tend to benefit the non-interest-bearing Gold price.

Meanwhile, Gold traders also remain wary of the geopolitical tensions between Russia and Ukraine and Israel and Iran, which could have a strong bearing on the traditional safe-haven asset, Gold price.

Gold price technical analysis: Daily chart

Having closed below the critical short-term 21-day Simple Moving Average (SMA) support, now at $2,641, Gold buyers seem reluctant to step in.

The 14-day Relative Strength Index (RSI) sits beneath the 50 level, justifying the cautious approach.

The previous week’s Bear Cross also remains in play, adding to the downside risks in Gold price.

Gold sellers need to crack the $2,621 static support to challenge the previous week’s low of $2,605.

A sustained drop below that level could expose the 100-day SMA at $2,577.

Conversely, recapturing the 21-day SMA support-turned-resistance at $2,641 is critical to reviving the recent recovery.

The next relevant resistance aligns at the 50-day SMA at $2,669, above which the $2,700 level will be on buyers’ radars.

Will Support at 3.16 Prior Swing High Hold?

Previous resistance around the June peak of 3.16 was tested as support today. It has stalled the decline so far, but whether it continues to do so remains to be seen. The 50% retracement level is at 3.13, and it was almost reached today. Although natural gas has reached a price zone where support may be seen there is no sign of increasing demand or a bullish reversal. Therefore, the expectation is for a continuation lower upon a decisive drop below today’s low.

Lower Target Zone From 3.04 to 2.90

If natural gas does fall below today’s low and continues to decline, then previous resistance from the 3.02 swing high may be the next area of support. However, there are price levels nearby to be aware of as well. One guide is provided by the internal uptrend line. But clearer price levels where support may be seen are from 3.04 to 2.90.

A falling ABCD pattern (purple) reaches its 100% downside target around 3.04. Then there is both a prior swing high and the 61.8% Fibonacci retracement at 3.02. And most importantly, the 20-Day MA is at 3.01. The 20-Day line has been successfully tested twice as support since it was reclaimed on October 29.

First Signs of Bullish Reversal Above 3.28

There is also the possibility that the day’s low price completed a retracement. If that is the case a decisive rally above today’s high of 3.28 indicates improving demand. Friday’s high of 3.38 would then need to be reclaimed for further signs of strength. Since natural gas is within the first pullback following a decisive bull breakout, it presents an interesting potential setup that will be watched closely by market participants.

It is currently within the first pullback following a significant breakout. On November 20 natural gas busted through the 3.02 swing high resistance level and triggered a breakout of a symmetrical triangle pattern and the continuation of the uptrend begun from the 2024 low of 1.52.

For a look at all of today’s economic events, check out our economic calendar.

XAU/USD Current price: $2,641.31

• Upbeat United States data fueled demand for the USD in a risk-averse environment.
• Investors await US employment-related updates ahead of the NFP release next Friday.
• XAU/USD trades with a soft tone, but holds within familiar levels.

Resurgent US Dollar strength weighed modesty on Gold price, with XAU/USD posting intraday losses. The pair hovers around $2,640 in the American session and aims to extend its slump following better-than-anticipated United States (US) data.

S&P Global released the final estimate of the November Manufacturing Purchasing Manager Index (PMI), upwardly revised to 49.7 from the preliminary estimate of 48.8. The official ISM Manufacturing PMI for the same month printed at 48.4, better than the 47.5 expected and the previous 46.5.

Meanwhile, Wall Street trades mixed, with the Dow Jones Industrial Average down over 100 points, but the S&P500 and the Nasdaq Composite up for the day. The sentiment soured on weekend news, pointing to political turmoil in France and mounting tensions between the US and Russia after President-elect Donald Trump threatened to impose tariffs on BRICS countries over the weekend.

Attention this week will be on US employment data, as the country will release multiple job-related figures ahead of the Nonfarm Payrolls (NFP) report on Friday.

XAU/USD short-term technical outlook

From a technical point of view, XAU/USD remains confined to familiar levels, still struggling to find a directional way. In the daily chart, the pair struggles around a mildly bearish 20 Simple Moving Average (SMA) while the 100 and 200 SMAs maintain their bullish slopes well below the current level. Technical indicators, however, have turned flat at around their midlines, in line with the absence of a clear trend.

In the near-term, and according to the 4-hour chart, XAU/USD is neutral-to-bearish the bright metal stands below a flat 20 SMA while above an also directionless 100 SMA not far below the shorter one. The 200 SMA, in the meantime, stands in the $2,690 region, providing dynamic resistance. Finally, technical indicators turned lower around their midlines, lacking momentum enough to support a bearish continuation.

 Support levels: 2,626.70 2,611.35 2,598.70  

Resistance levels: 2,643.30 2,655.00 2,671.55

Giá cà phê hôm nay ngày December 1, 2024 trên thị trường world, at 4:30 am updated on the Vietnam Commodity Exchange MXV (world coffee prices are continuously updated by MXV, matching with world exchanges, the only channel in Vietnam that continuously updates and links with world exchanges). Today’s online coffee prices of the three main coffee futures exchanges ICE Futures Europe, ICE Futures US and B3 Brazil are continuously updated by Y5Cafe during the trading hours of the exchange, updated as follows:

Kết thúc phiên giao dịch, giá cà phê Robusta trên sàn London lúc 4h30 ngày December 1, 2024 tiếp tục giảm ở phiên thứ 2 trong tuần, mức giảm sâu từ 142-156 USD/tấn, dao động từ 5228- 5409 USD/tấn. Cụ thể, kỳ hạn giao hàng tháng January 2025 là 5.409 USD/tấn (giảm 156 USD/tấn); kỳ hạn giao hàng tháng March 2025 là 5.377 USD/tấn (giảm 151 USD/tấn); kỳ hạn giao hàng tháng May 2025 là 5.310 USD/tấn (giảm 144 USD/tấn) và kỳ hạn giao hàng tháng July 2025 là 5.228 USD/tấn (giảm 142 USD/tấn).

Tương tự, giá sàn giao dịch cà phê Arabica New York ngày November 30, 2024 cũng giảm, kết thúc phiên giao dịch trước đó giá cà phê trên sàn New York giảm ở mức từ 4,40- 5 cent/lb. Cụ thể, kỳ hạn giao hàng tháng March 2025 là 318.05 cent/lb (giảm 5 cent/lb); kỳ giao hàng tháng May 2025 là 315.50 cent/lb (giảm 5,20 cent/lb); kỳ giao hàng tháng July 2025 là 310.85 cent/lb (giảm 4,85 cent/lb) và kỳ giao hàng tháng September 2025 là 305,80 cent/lb (giảm 4,40 cent/lb).

Kết thúc phiên giao dịch, sáng ngày December 1, 2024, giá cà phê Arabica Brazil tăng, giảm hỗn hợp qua các kỳ hạn giao hàng, dao động từ 386,85 – 389,05 USD/tấn. Cụ thể, kỳ hạn giao hàng tháng December 2024 là 389,05 USD/tấn (giảm 14,85 USD/tấn); kỳ giao hàng tháng March 2025 là 393,70USD/tấn (tăng 1,20 USD/tấn); kỳ giao hàng tháng May 2025 là 393,15 USD/tấn (giảm 6,90 USD/tấn) và giao hàng tháng July 2025 là 386,85 USD/tấn (giảm 6,40 USD/tấn).

Giá cà phê trong nước được cập nhật lúc 4h30 phút ngày December 1, 2024 như sau, giá cà phê trong nước quay đầu giảm, mức giảm nhẹ 1000 đồng/kg. Hiện giá thu mua trung bình tại các tỉnh Tây Nguyên là 130.200 đồng/kg.

Specifically, the coffee purchase price in the province Gia Lai ở mức 130.000 đồng/kg (giảm 1.000 đồng/kg so với phiên giao dịch trước); Tương tự, tại tỉnh Dak Nong cà phê cũng giảm 1.000 đồng/kg với giá 130.500 đồng/kg.

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 129.500 VND/kg.

Giá cà phê hôm nay (ngày 1/12) tại tỉnh Dak LakIn Cu M’gar district, coffee is purchased at 130.000 VND/kg, and in Ea H’leo district, Buon Ho town, it is purchased at 129.900 VND/kg.

Theo dự báo, giá cà phê ngày mai December 2, 2024 sẽ tăng nhẹ trở lại. Nguyên nhân được cho rằng do thời tiết không thuận lợi, thất thường tại hai nước sản xuất cà phê lớn nhất thế giới là Brazil và Việt Nam, mưa lớn ở các nước Nam Mỹ… Tại thị trường Việt Nam, mặc dù đang mùa thu hoạch rộ, giá cà phê đang neo ở mức cao nhưng nhiều nông dân chỉ bán lượng ít đủ chi phí công chăm sóc, thu hoạch, tưới tiêu, bón phân… còn đa số giữ lại vì mong chờ giá còn tăng.

Các chuyên gia cho rằng, hiện nay nguồn cung cà phê trên thị trường thế giới đang thiếu hụt và lượng cà phê tồn kho trên các sàn giao dịch quốc tế không nhiều. Điển hình, thời gian qua, giá cà phê Arabica trên sàn New York tăng liên tục. Vì thị trường này lo ngại sự thiếu hụt nguồn cung từ Brazil, do tình trạng khô hạn kéo dài ở nhiều vùng trồng.

Theo tính toán của các nông dân trồng cà phê ở Tây Nguyên Việt Nam, trung bình sản xuất ra mỗi kg cà phê có giá khoảng 30.000 – 40.000 đồng. Tuy nhiên, hiện nay giá bán đã lên trên 130.000 đồng/kg. Như vậy, người nông dân có lãi từ 2 – 3 lần chi phí đầu tư. Do đó, hiện nay nhu cầu mua đất mở rộng diện tích cà phê giúp thị trường đất rẫy không ngừng tăng giá.

• Gold price trades in negative territory near $2,645 in Monday’s early Asian session. 
• Trump trades and the Fed’s cautious stance undermine the yellow metal price. 
• The geopolitical risks might help limit Gold’s losses. 

Gold price (XAU/USD) edges lower to around $2,645 during the early Asian session on Monday. A recovery in the US Dollar broadly weighs on the precious metal. However, persistent geopolitical tensions could cap the downside for XAU/USD. 

The yellow metal declined 3% in November, its worst monthly loss since September 2023. A victory of Donald Trump in the US Presidential election in November fuelled expectations that the Federal Reserve (Fed) would adopt a cautious approach to further rate cuts, which boost the Greenback and drag the USD-denominated Gold lower. 

Nonetheless, the escalating geopolitical tensions could boost the Gold price, a traditional safe-haven asset. Russian and Syrian jets have carried out air strikes on Syrian rebels who are advancing through the country after seizing its second-largest city, per Reuters. “Persistent global uncertainties continue to drive demand for gold as a safe-haven asset,” Ole Hansen, head of commodity strategy at Saxo Bank, said in a note.

Traders brace for the US ISM Manufacturing Purchasing Managers’ Index (PMI) on Monday for fresh impetus. The Manufacturing PMI is projected to rise to 47.5 in November from 46.5 in the previous reading. On Friday, the attention will shift to the US Nonfarm Payrolls (NFP) for November. 

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.

Falling ABCD Pattern Targets 3.04

It is possible that a falling ABCD pattern is forming, although it is not perfect given the initial AB decline covers only one day. Looking at the pattern on a 4-hour chart (not shown) presents a clearer view of the pattern as the high candle is subsequently reversed. In the daily chart, there has not yet been a drop below last Friday’s low. The initial target from the pattern is 3.04. This essentially extends the next lower target zone around that is around the breakout level for a symmetrical triangle pattern at 3.02 and the 61.8% Fibonacci retracement level, also at 3.02.

Entries Following First Pullback After a Breakout

Natural gas is in the process of its first pullback following a decisive upside breakout of a large symmetrical triangle pattern last week on a rally above 3.02. Buying after the first pullback following a decisive breakout through a key pivot level is one of the better risk management entry strategies and active investors and traders deploy.

The downside is typically relatively narrow, while the upside has the benefit of a bullish pattern on the higher time frames. Market participants are drawn by the growing recognition that a long-term breakout recently occurred. Eventual follow-through to the breakout is anticipated. November ended at the highest monthly closing price for natural gas since October 2023. That is bullish behavior.

Upside Potential Versus Downside Risk

The idea for buying off the first pullback is that since a breakout recently occurred, in an uptrend a bullish reversal has the potential to be the beginning of a new trend (prior trend reversal) or new swing within a larger trend. The price dynamic should provide better upside potential relative to downside risk since a trader can more quickly identify when things aren’t going according to plan and exit relatively early before a larger decline.

For a look at all of today’s economic events, check out our economic calendar.

• Silver posts a 1.33% gain on Friday, yet records a weekly loss of 2.30%.
• Technical outlook neutral with a potential bullish pivot if Silver clears $31.00 resistance.
• Downward risk persists if Silver falls below $30.35, targeting next support at $30.00.

Silver price advanced on Friday and finished the session with gains of over 1.33%, yet printed losses of 2.30% in the week. A weak US Dollar sponsored a leg up in the grey metal, which has cleared the 100-day Simple Moving Average (SMA) of $30.35. At the time of writing, the XAG/USD trades at $30.60.

XAG/USD Price Forecast: Technical outlook

The grey metal is neutral to downward biased, consolidated, and fluctuated around the 100-day SMA. Neither buyers nor sellers have been able to move Silver’s price outside of the $29.64-$31.52 range.

Oscillators such as the Relative Strength Index (RSI) remain bearish, though there have been signs that buyers are gathering steam.

Hence, for a bullish continuation, buyers must clear the $31.00. Once cleared, the next stop would be the top of the range at $31.52 before buyers could target the 50-day SMA at $31.74, ahead of the $32.00 figure.

On the other hand, if XAG/USD drops below the 100-day SMA of $30.35, the next support would be the $30.00 mark. On further weakness, sellers could aim to the 200-day SMA at $29.10.

XAG/USD Price Chart – Daily

Coffee price today November 29, 2024 on the market world, at 4:30 am updated on the Vietnam Commodity Exchange MXV (world coffee prices are continuously updated by MXV, matching with world exchanges, the only channel in Vietnam that continuously updates and links with world exchanges). Today’s online coffee prices of the three main coffee futures exchanges ICE Futures Europe, ICE Futures US and B3 Brazil are continuously updated by Y5Cafe during the trading hours of the exchange, updated as follows:

At the end of the trading session, the price of Robusta coffee on the London floor at 4:30 a.m. on November 29, 2024 continued to increase slightly compared to the previous trading session, an increase of 10 – 32 USD/ton, ranging from 2.277 – 5.613 USD/ton. Specifically, the monthly delivery term January 2025 was 5.565 USD/ton (up 32 USD/ton); the monthly delivery term March 2025 was 5.528 USD/ton (up 32 USD/ton); the monthly delivery term May 2025 was 5.454 USD/ton (up 20 USD/ton) and the monthly delivery term July 2025 was 5.370 USD/ton (up 10 USD/ton).

On 29/11, the New York Arabica Coffee Exchange was closed for Thanksgiving. At the end of the previous trading session, coffee prices on the New York Stock Exchange were quite high. Specifically, the monthly delivery term March 2025 was 323.05 cent/lb; the monthly delivery term May 2025 was 320.70 cent/lb; the monthly delivery term July 2025 was 315.70 cent/lb and the monthly delivery term September 2025 was 310.20 cent/lb.

At the end of the trading session, on the morning of November 29, 2024, the price of Brazilian Arabica coffee increased and decreased mixedly across delivery terms, ranging from 393.25 – 403.90 USD/ton. Specifically, the monthly delivery term December 2024 was 399.20 USD/ton (down 4.70 USD/ton); the monthly delivery term March 2025 was 401.80 USD/ton (up 3.10 USD/ton); the monthly delivery term May 2025 was 400.05 USD/ton (up 19.05 USD/ton) and the monthly delivery term July 2025 was 393.25 USD/ton.

Robusta coffee traded on the ICE Futures Europe (London exchange) opens at 16:00 and closes at 00:30 (next day), Vietnam time. Arabica coffee on the ICE Futures US (New York exchange) opens at 16:15 and closes at 01:30 (next day), Vietnam time. For Arabica coffee traded on the B3 Brazil exchange, it will open from 19:00 – 02:35 (next day) Vietnam time.

According to forecasts, tomorrow’s coffee prices November 30, 2024 Robusta coffee prices on the London floor and Arabica coffee prices in New York will continue to increase. Meanwhile, according to forecasts, the price of Arabica coffee in Brazil will show signs of slowing down. As for domestic coffee prices, it is likely to exceed 130.000 VND/kg, approaching the record threshold of 134.400 VND/kg.

Domestic coffee prices were updated at 4:30 a.m. on November 29, 2024 as follows: Domestic coffee prices continued to increase sharply, increasing from 4.000 – 4.100 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 128.000 VND/kg.

Specifically, the coffee purchase price in the province Gia Lai at 127.900 VND/kg (up 4.000 VND/kg compared to the previous trading session); Meanwhile, in the province Dak Nong Coffee was also purchased at the highest price of 128.200 VND/kg (an increase of 4.100 VND/kg).

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 127.500 VND/kg.

Coffee price today (date 29/11) in the province Dak LakIn Cu M’gar district, coffee is purchased at 128.000 VND/kg, and in Ea H’leo district, Buon Ho town, it is purchased at 127.900 VND/kg.

Domestic coffee prices are forecast to exceed VND 130.000/kg in the next session on November 30, 2024.

According to the Department of Industry and Trade of Dak Lak province, in the 2023-2024 coffee crop, the whole province exported 264.404 tons of coffee (down 54.095 tons compared to the previous crop), accounting for 17,9% of the whole country.

Export turnover reached 915,795 million USD (an increase of 168,238 million USD compared to the previous crop year), accounting for 16,9% of the whole country.

Compared to the 2022-2023 crop year, the province’s coffee exports decreased in volume but increased in value due to the continuous increase in coffee prices in the last crop year. Of which, coffee bean exports reached 783,895 million USD, an increase of 24,5%.

Instant coffee exports reached 131,9 million USD, accounting for 14,4% of the province’s total coffee export turnover. Compared to the 2022-2023 coffee crop, instant coffee export turnover increased by 14,173 million USD.

Brent Crude oil prices are expected to average $74.53 a barrel next year, the monthly Reuters poll of dozens of analysts showed on Friday, as the experts downgraded their price outlook for the seventh consecutive month.

Brent Crude prices are set to average $74.53 per barrel next year as weaker global demand growth and enough supply would offset the impact of a potential delay to the OPEC+ cuts, said 41 analysts and economists in the survey.

Last month, the analysts had expected Brent Crude prices to average $76.61 per barrel in 2025.

The analyst consensus estimate in the Reuters poll has now been downgraded for the seventh month in a row.

So far this year, Brent Crude has averaged $80 a barrel.

The analysts expect the U.S. benchmark, WTI Crude, average $70.69 per barrel next year, the Reuters survey showed. The latest forecast is $2 a barrel lower than the October consensus of $72.73 per barrel.

Many analysts expect OPEC+ to extend the current cuts for at least a month, and even for the entire first quarter of 2025, as oil prices continue to be weak, with Brent in the lower $70s and WTI trading below the $70 mark.

Stricter U.S. sanctions against Iran under Donald Trump and geopolitical tensions could provide some support to prices early next year, but overall, expected tepid demand will weigh down on oil prices, according to analysts.

Early on Friday, oil prices were set for a weekly loss despite a flare-up in the Middle East and the virtual certainty that OPEC+ would not be bringing any barrels back anytime soon. Both benchmarks have dropped since the start of the week when the U.S. brokered a ceasefire between Israel and Lebanon’s Hezbollah was announced.

On Thursday, OPEC said that the OPEC+ group would move the meeting on its near-term oil production plans to December 5 from December 1, due to a scheduling conflict.

By Tsvetana Paraskova for Oilprice.com

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