Coffee Price Today on January 10th, 2024

COFFEE PRICE TODAY ON JAN 10TH, 2024

At the end of the latest trading session, the price of Robusta coffee in London for delivery in March 2024 increased by 47 USD/ton, at 2,932 USD/ton, for delivery in May 2024 increased by 40 USD/ton, at 2,830 USD/ton.

On the New York floor, the price of Arabica coffee delivered in March 2024 increased by 2.7 cents/lb, at 184.1 cents/lb, for delivery in May 2024 increased by 2.4 cents/lb, at 182.05 cents/lb.

Reason:

- The increase came from dry weather information in Brazil and Vietnamese coffee exports are facing difficulties. According to estimates by the Ministry of Industry and Trade, Vietnam's coffee exports in 2023 will reach about 1.61 million tons, worth 4.18 billion USD, down 9.6% in volume, but up 3.1% in value compared to 2022.

- Robusta coffee in Southeast Asia continues to be difficult to buy due to unsatisfactory prices and farmers expect prices to improve soon. Vietnamese farmers do not want to sell goods at low prices, causing speculation on the London stock exchange to push spot prices to a record high. 

- The Eurasian international maritime route is congested, causing sea freight rates to skyrocket due to having to go around the Cape of Good Hope in South Africa. The Eurasian international maritime route is congested, causing sea freight rates to skyrocket due to having to go around the Cape of Good Hope in South Africa. The International Coffee Organization said increasing tensions in the Red Sea caused some shipping lines to adjust their coffee shipping routes. Therefore, for Southeast Asian and East African coffees en route to Europe, unforeseen impacts include increased shipping costs as some shipping companies have introduced surcharges to compensate for long shipping times.

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CONTACT INFORMATION:

Factory 1: No. 132/6, TL 29 Street, Thanh Loc ward, District 12, Ho Chi Minh City, Vietnam Factory 2: No. 60-62, To Vinh Vien Street, Bao Loc City, Lam Dong Province, Vietnam.

Factory 3: Hamlet 9, Long Nguyen Village, Bau bag District, Binh Duong Province, Vietnam.

Contact person: Ms. Windy Ngo Phone/Whatsapp/Wechat/Line/Viber: +84 932 680 925 Email: sales1@vietthien.com