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Coffee News June 24, 2024

24 thg 6, 2024

Domestic Coffee Prices

Today, domestic coffee prices range between 122,000 and 123,200 VND/kg, down 200 VND from the end of yesterday. The highest buying price is in Dak Nong Province at 123,200 VND/kg, while the lowest is in Lam Dong Province at 122,000 VND/kg.

Global Coffee Situation

The USDA forecasts a 4.2% increase in global coffee production for the 2023/24 season, with Arabica coffee production rising by 10.7% and Robusta coffee production decreasing by 3.3%. However, Vietnam's Robusta coffee production for the 2024/2025 season (from October 2023 to May 2024) is expected to reach only 24 million bags, the lowest in 13 years.


The September 2024 Arabica Coffee Contract saw a significant decline, with the settlement price on June 21 being 225 cents/pound, down 2.32% from the previous session.

Arabica Coffee September 2024 Contract Price (KCEU24)

Date

Settlement Price (cent/pound)

Change (USD)

Change (%)

6/13/2024

226.25



6/14/2024

224.4

-1.85

-0.82%

6/17/2024

227.3

2.90

1.29%

6/18/2024

226.25

-1.05

-0.46%

6/19/2024

226.25

0.00

0.00%

6/20/2024

230.35

4.10

1.81%

6/21/2024

225.0

-5.35

-2.32%


The September 2024 Robusta Coffee Contract also saw a significant decline. Specifically, the settlement price on June 21 was $4,104 per ton, down 1.72% from the previous session.

Robusta Coffee September 2024 Contract Price (LRCU24)

Date

Settlement Price (cent/pound)

Change (USD)

Change (%)

6/13/2024

4,093



6/14/2024

4,009

-84

-2.05%

6/17/2024

4,057

48

1.20%

6/18/2024

3,994

-63

-1.55%

6/19/2024

4,060

66

1.65%

6/20/2024

4,176

116

2.86%

6/21/2024

4,104

-72

-1.72%


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