According to the Vietnam Commodity Exchange (MXV), in the industrial raw materials market, many commodity prices have turned to weaken, especially coffee prices.
As of 11:30 a.m. today (October 9), the domestic coffee market continued to decline, down an average of 100-200 VND/kg to around 112,800 - 113,500 VND/kg, the average purchase price in the Central Highlands provinces was 113,400 VND/kg.
Similar to Gia Lai, coffee in Dak Lak province was purchased at 113,400 VND/kg.
Meanwhile, in Dak Nong province, coffee prices decreased by VND100/kg compared to yesterday, currently at VND113,500/kg.
Coffee in Lam Dong province was purchased at the lowest price of 112,800 VND/kg, down 200 VND/kg compared to the closing price of yesterday's trading session (October 8).
For the world market, at the end of the most recent trading session, the price of Robusta coffee in London for November 2024 delivery decreased by 10 USD/ton, at 4,856 USD/ton, and the price of January 2025 delivery increased by 24 USD/ton, at 4,684 USD/ton.
Arabica coffee futures for December 2024 delivery increased by 3.55 cents/lb, to 248.20 cents/lb, and futures for March 2025 delivery increased by 3.6 cents/lb, to 246.95 cents/lb.
Expectations of rain in Brazil's main coffee growing region combined with strong export figures in September have put pressure on prices.
Brazil’s weather agency and LESG both said that rains will spread from the south to the southeast, Brazil’s main coffee-growing region, starting this week. Up to 50mm of rain could fall in 10 days, and temperatures are also expected to cool. The change in weather could create more favorable conditions for coffee plants to grow and recover from a prolonged dry period.
The coffee market in recent months has witnessed complex and unpredictable fluctuations, reflecting the multi-dimensional impact of domestic and international factors. Coffee prices are constantly changing, causing coffee growers and businesses to face many challenges.
