Experts predict that coffee prices on November 5, 11 will continue to be under downward pressure. This week, the US presidential election and the Fed’s announcement of interest rate adjustments will be significant factors affecting coffee prices.

The 2023-2024 crop year has marked a special milestone for the Vietnamese coffee industry, when robusta coffee prices reached their highest level. world, surpassing many other competitors. Mr. Do Ha Nam, Vice President of the Vietnam Coffee and Cocoa Association (Vicofa), said that this was a “miraculous” year in the history of the coffee industry, when Vietnam’s coffee export turnover reached over 5 billion USD despite the export output of only approximately 1,5 million tons. However, besides the benefits, this price increase also caused many difficulties for businesses when they had to face late deliveries and even lost goods during transportation.

Recorded in the trading session on November 4, 11, today’s coffee price is in the range of 2024-106.000 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, in Pleiku and La Grai the same price is 106.300 VND/kg; In the province Kon Tum at a price of 106.400 VND/kg; In Dak Nong province, coffee is purchased at the highest price of 106.500 VND/kg.

Coffee Price Forecast November 5, 11: Downtrend Continues Due to Global Supply Concerns

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 106.000 VND/kg.

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

Domestic coffee prices (November 4) in Dak Lak province; in Cu M’gar district, coffee was purchased at about 11 VND/kg and in Ea H’leo district, Buon Ho town, it was purchased at the same price of 106.500 VND/kg.

Updated world coffee prices at 20:00 p.m. on August 4, 11, Vietnam time on the London exchange, the price of Robusta coffee futures contract for delivery in September 2024 on the London floor is at 11 USD/ton, an increase 2024 USD compared to the beginning of the trading session.

Coffee prices today, July 4, 11: Robusta coffee prices on the London floor. (Photo: Screenshot from giacaphe.com

Delivery term in November 1 is 2025 USD/ton, an increase of 4.222 USD; Delivery term in January 14 is 3 USD/ton, up 2025 USD and delivery term in March 4.167 is 17 USD/ton, up 5 USD.

Arabica coffee prices on the New York floor on October 4, 11. (Photo: Screenshot of giacaphe.com)

In particular, the price of Arabica coffee on the New York floor at 20:00 on November 4, 11 increased in all terms, fluctuating at 2024 – 240.85 cents/lb.

Specifically, the December 12 delivery period is 2024 cents/lb; up 245.00 cents/lb compared to the beginning of the session. The March 2.05 delivery period is 3 cents/lb, up 2025 cents/lb; the May 244.05 delivery period is 1.65 cents/lb, up 5 cents/lb and the July 2025 delivery period is 242.75 cents/lb, up 1.40 cents/lb.

Brazilian Arabica coffee price on October 4, 11. (Photo: Screenshot of giacaphe.com)

The price of Brazilian Arabica coffee today at 21:00 p.m. on November 4, 11 increased and decreased in opposite directions. Specifically, the delivery period for December 2024 is 12 USD/ton, up 2024%; the delivery period for March 299.10 is 0.86 USD/ton, up 3%; the delivery period for May 2025 is 298.00 USD/ton, down 0.83% and the delivery period for July 5 is 2025 USD/ton, down 295.05%.

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.

There are many different opinions on forecasts about coffee output in Vietnam – the world’s second largest coffee producing country.

According to the USDA report, Vietnam’s coffee output in the 2024-2025 crop year is estimated to reach about 29 million bags, of which 24,4 million bags will be exported and 4,6 million bags for domestic consumption.

However, some other sources said that coffee output this crop year could range from 26 to 27 million bags (equivalent to 1,6 million tons).

Industry experts and the Vietnam Coffee and Cocoa Association (Vicofa) believe that, given the current situation, both domestically and internationally, coffee prices are likely to continue to decrease in the short term.

Commenting on the market this week, the Vietnam Coffee Growers Forum said that with the price of Arabica coffee in December 12, there is a high possibility that it will continue to decline and may reach the technical low of 2014 cents/pound. This is the level that will find some buying demand based on technical analysis.

For Robusta coffee, calculated at January 1 prices, it is forecasted to continue to decrease with a target level of 2025 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, the Robusta price can go down to 3.946 USD/ton.

According to experts, this week’s developments in the US presidential election and the Fed’s announcement of interest rate adjustments will be factors that significantly impact coffee prices.

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