Robusta coffee prices have ended their decline and recovered from the lowest level in 1 month, while Arabica coffee continued to record a slight increase.
At the end of the trading session on October 10, Robusta coffee futures price in November increased by 9 USD, to 4,865 USD/ton. Trading volume is at an average level, with the trend shifting to the January 2025 term.
Arabica coffee recorded a second consecutive increase, but the increase was limited by the Brazilian Real falling to its lowest level in 3 and a half weeks against the USD. This pushes coffee producers in Brazil to increase sales.
In the domestic market, coffee prices today October 10, 2024 increased slightly from 100 – 200 VND/kg, fluctuating around 113,000 VND/kg.
The price of fresh coffee at the beginning of this year’s crop has reached a record high in many years. According to records in Dak Lak and Dak Nong, fresh coffee prices are currently being purchased around 20,000 VND/kg.
Notable news:
– Rain forecasts in Brazil have helped ease concerns about drought, limiting coffee price increases. Maxar Technologies reported on Monday that coffee growing areas in Brazil will receive heavy rains this week and next, improving humidity and crop conditions.
– The commodity market just experienced a quiet trading session, as geopolitical tensions in the Middle East continued to impact investor psychology. Traders are now waiting for key financial data from the US to be released later in the week, to gauge the possibility of a second consecutive interest rate cut.
– According to the latest statistics from the General Department of Vietnam Customs, Vietnam’s coffee exports in September reached 51,369 tons, with a value of 286.9 million USD. Compared to last month, exports decreased 32.6% in volume and 28.7% in value, but compared to the same period last year, increased 0.8% in volume and 70.1% in value.
Thinh whistle (Giacaphe.com)
