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MILAN – Last week’s overall softer trade in the coffee futures market was abruptly disrupted yesterday (Monday 8 September), with prices surging in both terminals. In New York, the ICE Arabica contract for December delivery was up by 3%, reaching 384.85 cents — the highest closure since the start of the month. November ICE Robusta coffee contract in London was also by 2.8% to settle at $4,430.
Concerns about weather developments in Brazil have pushed prices up again.
New data released by Climatempo describes an alarming situation in Minas Gerais, where there has been almost no rainfall over the past week.
Market participants are particularly concerned about early flowerings, which could result, without adequate backup showers, in floral abortion and loss of crop potential.
According to data from the Vietnam Customs Authority, the Asian country shipped 1,416,667 bags of all forms of coffee in August, which is an increase of 12.9% compared to the same month last year.
The Ministry of Agriculture and Rural Development reports that exports in the first eight months of the calendar year totalled 1.2 million tonnes, or 20 million bags, worth $6.42 billion — an increase of 8.7% in volume and 59.1% in value, respectively.
The average export price was around $5,580 per tonne, up 46.4%. However, customs data for the first 11 months of the 2024/25 coffee year show a slight decline in volume (-3.23%) compared to the same period last year, with exports totalling 22,683,334 bags.
The Vietnamese media highlight the performance of large private groups – starting with Vinh Hiep Company, based in Gia Lai province –which posted over $750 million in exports and expects to surpass $1 billion by the end of the year, accounting for more than 12% of national coffee exports.
The results achieved by the Vietnamese coffee sector benefit from the high prices reached by Robusta beans, but also from significant investments in coffee processing technologies and supply chain transparency.
Vietnam currently cultivates around 732,000 hectares of coffee, with an average yield of 2.9 tonnes or 48.3 bags per hectare.
