Experts predict that on October 30, 10, coffee prices in the domestic market will rebound due to weather and international market influences.

Coffee price world increased due to concerns that the storm’s circulation could cause heavy rain in Vietnam’s key coffee growing region of the Central Highlands, slowing the progress of the new crop harvest. Storm Tra Mi (storm No. 6) made landfall, causing heavy rain from Ha Tinh to Binh Dinh and the northern Central Highlands in Vietnam, causing the supply of the harvested crop to slow to the market, as the storm dissipated quickly but brought rains with the tropical depression afterwards. Meanwhile, another storm is forming from the East of the Philippines, named Kong-rey. The storm is moving southward as it gets closer to the end of the year.

Coffee price forecast for October 30, 10: Tendency to increase strongly again due to weather concerns

Coffee prices also rose on news after Brazil’s Somar Meteorologia reported that Brazil’s largest arabica coffee growing region, Minas Gerais, received just 25,1 mm of rain last week, or 74% of the historical average.

Assessing the coffee market in the coming time, experts said that there were too many difficulties right from the beginning of the new crop year, perhaps these difficulties will last until early 2025, when international traders sell all the goods they had hastily purchased before.

At that time, coffee prices will be more stable, but the opportunity to increase prices to reach the previous peak is considered gone. In the current coffee market conditions, we need to do business based on quality, not quantity.

Recorded in the trading session on October 29, 10, domestic coffee prices today decreased slightly by 2024-800 VND/kg, ranging from 900-108.500 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 109.100 VND/kg, the highest purchase price in the province Dak Nong 109.100 VND/kg.

Specifically, the coffee purchase price in the province Gia Lai (Chu Prong) is 109.000 VND, down 800 VND/kg compared to yesterday, in Pleiku and La Grai the same price is 108.900 VND/kg; In the province Kon Tum at the price of 109.000 VND/kg, down 800 VND/kg compared to yesterday; In Dak Nong province, coffee was purchased at the highest price of 109.100 VND/kg, down 900 VND/kg compared to yesterday.

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 108.500 VND/kg, down 900 VND/kg compared to yesterday.

Coffee prices today (April 29) in the province Dak LakIn Cu M’gar district, coffee is purchased at about 109.000 VND/kg, down 800 VND/kg, while in Ea H’leo district and Buon Ho town, it is purchased at the same price of 108.900 VND/kg.

Updated world coffee prices at 20:00 p.m. on September 29, 10, Vietnam time on the London exchange, the price of Robusta coffee futures contract for September 2024 delivery on the London exchange was at 11 USD/ton, down 2024 USD compared to the beginning of the trading session.

Coffee prices today, July 29, 10: Robusta coffee prices on the London floor. (Photo: Screenshot from giacaphe.com

Delivery term in November 1 is 2025 USD/ton, down 4.367 USD; Delivery term in January 43 is 3 USD/ton, down 2025 USD and delivery term in March 4.296 is 41 USD/ton, down 5 USD.

Arabica coffee prices on the New York floor on October 29, 10. (Photo: Screenshot of giacaphe.com)

In particular, the price of Arabica coffee on the New York floor today at 20:00 on October 29, 10 decreased in all terms, fluctuating at 2024 – 246.05 cents/lb.

Specifically, the delivery term in December 12 is 2024 cents/lb; down 251.00 cents/lb compared to the beginning of the session. March 1.35 delivery is 3 cents/lb, down 2025 cents/lb; Delivery period in May 250.05 is 1.30 cents/lb, down 5 cents/lb and delivery period in July 2025 is 248.70 cents/lb, down 1.20 cents/lb.

Brazilian Arabica coffee price on October 29, 10. (Photo: Screenshot of giacaphe.com)

The price of Brazilian Arabica coffee today at 21:00 p.m. on October 29, 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 303.00 is 0.49 USD/ton, down 3%; the delivery period for May 2025 is 303.00 USD/ton, up 0.61% and the delivery period for July 5 is 2025 USD/ton, up 306.35%.

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.

According to data from the General Department of Customs, Vietnam’s coffee exports in the first half of October 10 reached 2024 thousand tons, worth 21,5 million USD, up 125,8% in volume and 0,4% in value compared to the first half of September; and compared to the first half of October 7,5, it increased by 9% in volume and 10% in value. Accumulated from the beginning of the year to October 2023, 20,5, Vietnam exported approximately 98,0 million tons of coffee, worth 15 billion USD, down 10% in volume, but up 2024% in value compared to the same period in 1,13.

Currently, businesses in the Vietnamese coffee supply chain are facing many challenges. Rising prices stimulate farmers to pursue short-term benefits. Increasing supply shortages due to depleting domestic inventories.

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