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Coffee prices fell sharply at the end of the week; Is Vietnamese coffee's market share gradually decreasing in the Chinese market?

Báo Quốc TếBáo Quốc Tế04/06/2023

Vietnam's coffee market share in China's total imports decreased from 23.96% in the first quarter of 2022 to 13.9% in the first quarter of 2023, according to the Import-Export Department, Ministry of Industry and Trade.

World coffee prices reversed sharply on both London and New York exchanges when the USDX increased sharply, attracting speculative capital to stock exchanges, crude oil and many other commodities, causing coffee to lose its position.

At the end of this weekend's trading session on the international exchange (June 3), the price of robusta coffee on the ICE Futures Europe London exchange continued to decrease. The price of robusta coffee futures for July 2023 delivery decreased by 30 USD, trading at 2,575 USD/ton. The price of September delivery decreased by 25 USD, trading at 2,542 USD/ton. Trading volume was above average.

Arabica coffee prices on the ICE Futures US New York exchange decreased. The July 2023 delivery contract decreased by 2.75 cents, trading at 180.30 cents/lb. Meanwhile, the September 2023 delivery contract decreased by 2.55 cents, to 177.70 cents/lb. Trading volume increased sharply.

Giá cà phê hôm nay 4/6/2023: Giá cà phê
Domestic coffee prices decreased by 500 VND/kg in some key purchasing localities during the weekend trading session (June 3).

The rise in the value of the US dollar also caused emerging currencies to depreciate, stimulating funds and coffee speculators to liquidate and take profits after previously buying heavily.

In the domestic market, coffee prices turned down by 500 VND/kg, accordingly, the lowest transaction price in the localities was 60,700 VND/kg, recorded in Lam Dong province.

Domestic coffee prices decreased by 500 VND/kg in some key purchasing localities during the weekend trading session (June 3).

Average price

Change

USD/VND exchange rate

23,280

0

DAK LAK

61,200

- 500

LAM DONG

60,700

- 500

GIA LAI

61,000

- 500

DAK NONG

61,300

- 500

Unit: VND/kg.

(Source: Giacaphe.com)

According to data from the Import-Export Department, Ministry of Industry and Trade, in the first quarter of 2023, China imported 7.43 thousand tons of coffee from Brazil, worth 28.07 million USD, up 336.7% in volume and 322.8% in value over the same period in 2022.

Brazil's coffee market share in China's total imports increased sharply, from 9.12% in the first quarter of 2022 to 31.97% in the first quarter of 2023.

In contrast, China reduced coffee imports from Vietnam in the first quarter of 2023, down 33% in volume and 31.6% in value compared to the same period in 2022, reaching approximately 3,000 tons, worth 6.66 million USD.

Vietnam's coffee market share in China's total imports decreased from 23.96% in the first quarter of 2022 to 13.9% in the first quarter of 2023, ranking third after Brazil and Ethiopia.

Meanwhile, in the same period last year, Vietnam led the market share in China, followed by Ethiopia and Brazil respectively.

Data from the China Customs Administration shows that the country's coffee imports in the first quarter of 2023 reached approximately 23,250 tons, worth 135.17 million USD, up 24.5% in volume and 29.8% in value over the same period last year. The average import price of coffee in China reached 5,814 USD/ton, up 4.2% over the same period last year.

China mainly imported unroasted or decaffeinated coffee, accounting for 85.86% of the total volume, reaching 19.92 thousand tons, worth 88.72 million USD, up 40.5% in volume and 70% in value over the same period last year. In contrast, China reduced its imports of roasted, decaffeinated coffee and roasted, decaffeinated coffee, down 26.7% and 18.6% in volume, respectively, and down 11% and 7.6% in value over the same period last year.



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