| Coffee Price Forecast August 13, 2024: Influenced by multiple factors, coffee prices continue to fall. Coffee Price Forecast August 14, 2024: Concerns about weather in Brazil will push coffee prices sharply higher again? |
Coffee prices forecast for August 15, 2024, in the domestic market are expected to rise again. According to data from the General Department of Customs, in July, Vietnam's coffee exports reached 76,982 tons, worth 381.2 million USD, a decrease of 29.3% in volume but an increase of 23.8% in value compared to the same period last year.
In particular, the average export price of coffee last month reached a record high of $4,951 per ton, an increase of 7.8% compared to the previous month and a significant increase of 75.1% (equivalent to $2,123 per ton) compared to the same period in 2023.
Overall, in the first seven months of this year, the export price of this agricultural product increased by 52.3% to an average of 3,682 USD/ton. As a result, although export volume decreased by 12.4% compared to the same period last year, the revenue still increased by 33.5%, reaching 979,353 tons, worth 3.6 billion USD.
With favorable pricing, the coffee industry is expected to achieve a record export value of $5 billion this year.
Regarding export markets, the European Union (EU) remained Vietnam's largest coffee consumer market in the first seven months of the year, accounting for 39% of total export volume with 381,699 tons, worth US$1.37 billion. Although the volume of coffee exported to the EU decreased by 10.7%, the value increased by 39% compared to the same period last year.
Specifically, exports to key markets such as Germany, Italy, and Spain reached 121,500 tons, 91,082 tons, and 71,734 tons respectively. Compared to the same period last year, coffee exports to Germany and Spain decreased by 11.6% and 14.5% respectively, while exports to Italy increased by 17.8%.
Coffee exports to several other major markets such as Japan, the US, and Russia have decreased significantly compared to the same period last year.
However, exports to Asian markets recorded strong growth, with Indonesia increasing by 50.4%; the Philippines by 63.7%; China by 27.2%; Thailand by 68.7%; and Malaysia by 61.7%.
In the domestic market, as of 4:30 AM on August 14, 2024, according to www.giacaphe.com, coffee prices have slightly decreased compared to yesterday, ranging from 117,800 to 118,500 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 118,000 VND/kg, with the highest purchase price in Dak Lak and Dak Nong provinces at 119,300 VND/kg.
 |
| Coffee price forecast August 15, 2024: A simultaneous plunge across the board. |
Specifically, the purchase price of coffee in Gia Lai province (Chu Prong) is 118,300 VND/kg, while in Pleiku and La Grai it is 118,200 VND/kg; in Kon Tum province, coffee is purchased at 118,300 VND/kg; and in Dak Nong province, coffee is purchased at the highest price of 118,500 VND/kg.
In Lam Dong province, in districts such as Bao Loc, Di Linh, and Lam Ha, the price of bulk green coffee beans (green coffee beans, fresh green coffee beans) is 117,800 VND/kg.
Today, August 14th, coffee prices in Dak Lak province are being purchased at approximately 118,500 VND/kg; in Cu M'gar district, coffee is being purchased at approximately 118,400 VND/kg, while in Ea H'leo district and Buon Ho town, the same price is 118,400 VND/kg.
Coffee price list today, August 14, 2024
 |
According to the latest update on world coffee prices at 8:30 PM on August 14, 2024 (Vietnam time) on the London exchange, the price of Robusta coffee futures contract for September 2024 delivery on the London exchange was 4,454 USD/ton, an increase of 79 USD compared to the beginning of the trading session.
 |
| Coffee prices today, August 14, 2024: Robusta coffee prices on the London exchange. (Image: Screenshot from giacaphe.com) |
The November 2024 delivery price was $4,271/ton, up $84; the January 2025 delivery price was $4,104/ton, up $79; and the March 2025 delivery price was $3,953/ton, up $71.
 |
| Coffee prices today, August 14, 2024: New York Arabica coffee prices (Image: Screenshot from giacaphe.com) |
Specifically, the price of Arabica coffee on the New York exchange today, at 8:30 PM on August 13, 2024, increased across all contract periods, fluctuating between 227.80 and 234.80 cents/lb.
Specifically, the September 2024 delivery contract was 234.80 cents/lb, up 2.10 cents/lb from the start of the session. The December 2024 contract was 232.90 cents/lb, up 3.85 cents/lb; the March 2025 contract was 230.10 cents/lb, up 3.80 cents/lb; and the May 2025 contract was 227.80 cents/lb, up 3.60 cents/lb.
 |
| Coffee prices today, August 14, 2024: Brazilian Arabica coffee prices. (Image: Screenshot from giacaphe.com) |
Brazilian Arabica coffee prices today, at 8:30 PM on August 14, 2024, showed mixed trends. Specifically, the September 2024 delivery contract was $293.90/ton, up 1.21%; the December 2024 contract was $285.40/ton, up 1.19%; the March 2025 contract was $276.30/ton, down 4.18%; and the May 2025 contract was $272.40/ton, down 4.10%.
Robusta coffee traded on the ICE Futures Europe exchange (London exchange) opens at 4:00 PM and closes at 12:30 AM (the next day), Vietnam time.
Arabica coffee on the ICE Futures US (New York exchange) opens at 4:15 PM and closes at 1:30 AM (the next day), Vietnam time.
According to traders, strong Robusta exports from Brazil are helping to offset the supply shortage from Vietnam. Cecafe reported that Brazilian Robusta coffee exports in July 2024 surged by 82.2% compared to the same period in 2023, reaching 900,000 bags (60kg each).
According to agronomists, the light and localized frost in Brazil, which was strongest in the southern part of the country, basically did not affect coffee and sugarcane growing areas.
The Brazilian coffee exporters association, Cecafé, also reported that total green coffee exports in the first seven months of 2024 increased by 51.88% year-on-year, reaching 25.83 million bags. This included 20.65 million bags of Arabica coffee, up 31.08%, and 5.18 million bags of Robusta Conilon coffee, up 313.7% year-on-year.
*This information is for reference only. Prices may vary depending on the time and location.
Source: https://congthuong.vn/du-bao-gia-ca-phe-1582024-dong-loat-lao-doc-339068.html
