At the end of Tuesday’s trading session, Robusta coffee futures prices in November decreased slightly, while other futures all recorded increases.
Arabica coffee prices have recovered strongly after a deep decline earlier this week. The Brazilian real fell to its lowest level in two weeks against the USD, encouraging Brazilian producers to boost coffee sales for export.
Domestic coffee prices today also adjusted down from 100 – 200 VND/kg, currently trading around 113,000 VND/kg.
Notable news:
– Robusta coffee prices continue to receive support from drought information in Vietnam, which may cause output to decrease in the upcoming crop year.
– According to the International Coffee Organization (ICO), global coffee exports in August increased by 6.5% over the same period last year, reaching 10.92 million bags. From October to August, global exports increased by 9.9%, reaching 125.67 million bags.
– Conab (Brazilian Agricultural Product Forecasting Agency) has adjusted its 2024 Brazilian coffee production forecast to 54.8 million bags, down from the 58.8 million bags forecast in May.
Thinh whistle (Giacaphe.com)
