Local Market In-Brief
*Reminder: Here’s a glimpse of our past report. Stay informed with the latest updates by subscribing to our mailing list for the most current information.
- The new harvest is progressing well, with only brief delays expected in Vietnam’s coffee-growing regions over the next 10 days. Minimal rainfall (10 mm) is forecasted in coffee areas for the next two weeks, setting favorable conditions for harvesting. With farmer target prices at 100,000 VND/kg, we anticipate steady crop flow from farmers to shippers within the month.
- Despite steady ICE futures, FAQ upcountry bids rose to 115,500 VND/kg today, while FOB differentials fell from H-level to H-50, further tightening the FAQ-to-FOB trade margin as local shippers seek export contracts to manage working capital needs.
- Vietnam’s coffee imports in October 2024 reached 14,864 tons GBE, an 8.65% decrease from the previous month but a 9.72% year-on-year increase, and 103.91% above the five-year average. This included 10,501 tons of
Robusta (-18.39% MoM, +10.64% YoY) and 1,596 tons of Arabica (+26.51% MoM, +1.96% YoY). Crop YTD (Oct ’24 to Oct ’24) imports increased 9.72% from last year and more than doubled the five-year average.
