Coffee prices today (June 25) fluctuated between 64,600 - 65,300 VND/kg. In the past 6 days, the coffee market has tended to decrease. At the end of the week, localities recorded a decrease of about 1,200 - 1,400 VND/kg compared to the beginning of the week.
Update domestic coffee prices
Coffee prices generally decreased last week. Compared to the beginning of the week, provinces and cities recorded a decrease of about 1,200 - 1,400 VND/kg.
Of which, Lam Dong province recorded a transaction price of 64,600 VND/kg - the lowest level at the present time, down 1,400 VND/kg.
Next, Kon Tum and Gia Lai provinces recorded a transaction price of 64,800 VND/kg, down 1,200 VND/kg and 1,400 VND/kg, respectively.
Dak Lak province is buying coffee at VND65,100/kg at the weekend after a decrease of VND1,400/kg.
Dak Nong's purchase price is 65,300 VND/kg, down 1,400 VND/kg.
Coffee price fluctuations last week. Unit: VND/kg. Compiled by: Anh Thu
Update world coffee information
In early June 2023, the prices of both Robusta and Arabica coffee increased simultaneously. Unfavorable weather conditions in major coffee growing regions and technical demand from hedge funds have pushed up commodity prices, according to the latest report from the Import-Export Department (Ministry of Industry and Trade).
On the London exchange, on June 9, 2023, the price of robusta coffee futures for delivery in July 2023, September 2023, November 2023 and January 2024 increased by 7.2%, 7.8%, 7.0% and 5.6% respectively compared to May 29, 2023, to 2,760 USD/ton; 2,726 USD/ton; 2,643 USD/ton and 2,557 USD/ton.
On the New York Stock Exchange, on June 9, 2023, the price of Arabica coffee futures for July 2023, September 2023, December 2023 and March 2024 increased by 7.3%, 6.0%, 5.6% and 5.5% respectively compared to May 29, 2023, to 194.85 US cents/lb; 190.35 US cents/lb; 187.65 US cents/lb and 187.2 US cents/lb.
On Brazil's BMF exchange, Arabica coffee futures prices fluctuated. On June 9, 2023, Arabica coffee futures for July 2023, December 2023 and March 2024 increased by 2.3%, 0.1% and 0.7% respectively compared to May 29, 2023, to 223.45 US cents/lb; 215.75 US cents/lb and 220.1 US cents/lb. In contrast, Arabica coffee futures for September 2023 decreased by 0.2% compared to May 29, 2023, to 216 US cents/lb.
In the coming time, world coffee prices are forecast to be supported by unfavorable weather factors in producing countries. The US Government's National Climate Center forecasts that there is a 90% chance of El Nino weather conditions occurring later this year, threatening localized drought in producing countries around the Pacific Rim and causing heavy rains in the main coffee growing regions of Eastern Brazil and West Africa.
In addition, concerns that major central banks will implement a new round of interest rate hikes while the global economy remains unstable have weakened the USD, and speculative capital continues to flow into commodities, including coffee. Demand for robusta coffee is increasing due to the economic recession.
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