Domestic prices decreased slightly; world coffee prices fell to low levels.

Coffee prices in Dak Lak province today, August 2nd, decreased slightly by 100 VND/kg compared to yesterday; in Cu M'gar district, coffee was purchased at approximately 123,400 VND/kg, while in Ea H'leo district and Buon Ho town, it was purchased at the same rate of 123,300 VND/kg.

The domestic coffee market remained largely stable compared to the same time yesterday, with slight decreases in some areas, while the London exchange has been declining for the past few days. Today, August 2nd, coffee prices are in the range of 123,000 - 123,500 VND/kg in the domestic market.

World coffee prices at 4:30 AM on August 2nd, 2024, were updated on the Vietnam Commodity Exchange (MXV).

Today's online coffee prices from the three main coffee futures exchanges, ICE Futures Europe, ICE Futures US, and B3 Brazil, are updated on www.giacaphe.com as follows:

Coffee prices today, August 2nd, 2024: Robusta coffee prices on the London exchange. (Image: Screenshot from giacaphe.com)

At the close of trading on August 2, 2024, at 4:30 PM, Robusta coffee prices on the London exchange fell to between $3,814 and $4,225 per ton. Specifically, the September 2024 delivery contract was $4,225 per ton (down $36 per ton); the November 2024 delivery contract was $4,083 per ton (down $33 per ton); the January 2025 delivery contract was $3,941 per ton (down $29 per ton); and the March 2025 delivery contract was $3,814 per ton (down $25 per ton).

Coffee prices today, August 2nd, 2024: New York Arabica coffee prices (Image: Screenshot from giacaphe.com)

Arabica coffee prices on the New York exchange on the morning of August 2, 2024, decreased from 223.20 to 227.75 cents/lb. Specifically, the September 2024 delivery contract was 227.75 cents/lb (down 0.63%); the December 2024 contract was 226.55 cents/lb (down 0.70%); the March 2025 contract was 225.55 cents/lb (down 0.59%); and the May 2025 contract was 223.20 cents/lb, down 0.71%.

Coffee prices today, August 2nd, 2024: Brazilian Arabica coffee prices. (Image: Screenshot from giacaphe.com)

Brazilian Arabica coffee prices saw a slight decrease on the morning of August 2, 2024. Specifically, the September 2024 delivery contract was $285.25/ton (down 0.28%); the December 2024 contract was $279.25/ton (down 0.30%); the March 2025 contract was $275.05/ton; and the May 2025 contract was $271.40/ton (down 0.6%).

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.

For Arabica coffee traded on the B3 Brazil exchange, trading hours will be from 7:00 PM to 2:35 AM (the following day), Vietnam time.

Excluding inventory carried over from the 2022/2023 crop year, Vietnam currently has only about 210,000 tons of coffee available for export in the remaining three months of the 2023/2024 crop year (from July to the end of September), until the new crop year begins harvesting in October this year.

The coffee market had anticipated the Fed keeping interest rates unchanged, so there wasn't much disruption. Accordingly, at the conclusion of its two-day policy meeting (July 30-31), the US Federal Reserve (Fed) decided to keep the benchmark interest rate unchanged for the eighth consecutive time, but forecasts a possible adjustment in September.

Coffee prices on both exchanges continued to fall due to improving supply from Brazil. Forecasts of rain in the coming months helped ease supply concerns, although prices remained at record highs for the time of year. However, futures prices fell more than 8% to near a three-week low as traders assessed mild winter weather conditions in Brazil.

As of July, Vietnam's coffee exports reached 70,000 tons, a decrease of nearly 36% compared to the same period in 2023. For the first seven months of 2024, Vietnam's coffee exports totaled 964,000 tons, a decrease of nearly 14% compared to the same period last year. Export value reached US$3.54 billion, an increase of 31% compared to the same period last year. The high export value, despite the decrease in volume, is due to consistently high coffee prices since the beginning of the year. Estimated Vietnamese coffee production for the 2023/2024 crop year is 1.47 million tons, a decrease of 20% compared to the 2022/2023 crop year. This is the lowest production in the past four years.

This information is for reference only. Prices may vary depending on the time and location.