(VAN) Coffee prices on 11/05/2024, show a significant increase. Domestic coffee prices have inched up by VND 200, trading around VND 106,000 – 106,500/kg.
Latest domestic and global coffee prices on 11/05/2024
Coffee prices on November 5 globally
Globally, both the London and New York exchanges saw increases today.
On the London exchange, Robusta prices for January 2025 delivery rose by $ 39 (approximately 0.91%) to reach $ 4,318/ton. Meanwhile, the March 2025 contract increased by $ 41(around 0.97%), reaching $ 4,249/ton.
On the New York exchange, Arabica prices for December 2024 delivery rose significantly by 3 cents (about 1.23%) to 245.95 cents/lb. The March 2025 contract also increased by 2.55 cents (approximately 1.05%), reaching 244.95 cents/lb.
Latest Arabica and Robusta prices on 11/05/2024
Today, global coffee prices are supported by a weaker USD ahead of the upcoming U.S. presidential election.
As of the latest survey, the DXY index, which tracks the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stands at 103.89.
Investors are currently awaiting the outcome of the U.S. presidential election and the Federal Reserve’s policy meeting scheduled for this week.
On the two exchanges, a significant reduction in speculative long positions last week also helped support coffee prices.
Thus, global coffee prices on 11/05/2024, have risen strongly compared to yesterday.
Coffee prices on November 5 domestically
Domestically, coffee prices rose slightly by VND 200 compared to yesterday.
In Lam Dong province, the three districts of Di Linh, Bao Loc, and Lam Ha are trading at VND 106,000/kg.
In Dak Lak, Cu M’gar district is purchasing coffee at VND 106,500/kg, while Ea H’leo and Buon Ho are trading at VND 106,400/kg.
In Dak Nong province, traders in Gia Nghia and Dak R’lap are transacting at VND 106,500/kg and VND 106,400/kg, respectively.
In Gia Lai province, Chu Prong district is trading at VND 106,400/kg, while Pleiku and La Grai hold at VND 103,000/kg.
In Kon Tum, the purchasing price today is VND 106,400/kg.
Domestic coffee prices have slightly increased, keeping this agricultural product steady at around VND 106,000/kg.
Experts forecast that purchasing prices for coffee throughout the 2024/25 season will remain high due to reduced production and limited stock from the 2023/24 season.
Thus, on 11/05/2024, domestic coffee prices are trading around VND 106,000 – 106,500/kg.
$ 1 = VND 25.130 – Source: Vietcombank.
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