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MILAN – The upward trend in coffee futures prices came to a halt during the second trading session of the week. On Tuesday 4 November, both terminals inched down following Monday’s rally. In New York, the contract for December delivery fell by 0.3% to close at 405.25 cents. In London, the January contract lost 0.2% to settle at $4,681.
The main driver yesterday was the devaluation of the Brazilian real, which fell to its lowest level against the US dollar in the last week and a half, thereby encouraging Brazilian exports.
The fundamentals otherwise remain unchanged, with concerns about the weather in Brazil and Typhoon Kalmaegi, which is expected to make landfall in Vietnam between Thursday and Friday, potentially affecting coffee-growing areas in the Central Highlands.
Meanwhile, Vietnam’s Ministry of Agriculture and Rural Development reports that the Asian country’s coffee exports in the first 10 months of the year amounted to 1.3 million tonnes or 21.67 million bags, up 13.5% compared to the same period in 2024.
This corresponded to a 61.8% increase in value, to 7.41 billion dollars.
The average export price during the same period was $5,653 per tonne, according to the local newspaper Kinh Te & Do Thi.
The 13th edition of International Coffee Week (SIC) opens today in Belo Horizonte, capital of the Brazilian state of Minas Gerais.
The event will see a record number of 240 exhibitors participating in an exhibition area covering 20,000 square metres.
Around 25,000 visitors from some 40 countries are expected to attend the show.
SIC is a promotion and business platform organised into eight areas: Symposium and Forum, The Exhibition, Cupping Rooms, Coffee of the Year, Business Roundtable, Coffee Festival of the Week, Championships & Awards, and Meetings and Workshops.
