Coffee price today December 6, 2024: Bouncing back

Published Dec 6, 2024

Tridge summary

World coffee prices have surged due to speculative buying and supply concerns in Brazil and Vietnam. The International Coffee Organization's Global Coffee Price Index averaged 270.7 US cents/lb in November, up 8% month-on-month and 67.6% year-on-year. The increase is due to worries about global supply after Tropical Storm Sara and a decrease in Brazil's coffee output forecast. The domestic coffee market in Vietnam has also seen a rebound. Despite a decrease in Vietnam's coffee exports in the first 11 months of 2024, the export turnover increased sharply due to high prices.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

World coffee prices today December 6 World coffee prices continued to increase strongly again in the trading session on December 6 due to the promotion of speculative buying activities in the coffee futures market combined with concerns about supply in Brazil and Vietnam. On the London exchange, the online price of robusta coffee for January 2025 delivery increased by 2.62% (equivalent to 125 USD/ton) compared to the previous trading session, to 4,895 USD/ton; the contract for March 2025 delivery increased by 2.57% (122 USD/ton), reaching 4,873 USD/ton. Similarly, on the New York Stock Exchange, the price of Arabica coffee for March 2025 delivery increased sharply, up to 3.23% (9.8 US cents/pound) compared to the previous trading session, to 313.5 US cents/pound; the contract for May 2025 delivery increased by 3.16% (9.55 US cents/pound), standing at 311.3 US cents/pound. Traders said the market remained concerned about the crop outlook from Brazil and the fact that two major ...

Source: Agriculture