Coffee prices today (July 13) in the domestic market decreased by 600 - 900 VND/kg. Accordingly, 64,700 VND/kg is the lowest transaction price in the localities, recorded in Lam Dong province.
Update domestic coffee prices
According to a survey at 6:35, today's coffee price decreased by 600 - 900 VND/kg.
Accordingly, localities are purchasing coffee at prices ranging from 64,700 - 65,300 VND/kg.
Of which, Lam Dong province has the lowest price of 64,700 VND/kg, down 900 VND/kg. Next is Gia Lai province with the price of 65,100 VND/kg, down 600 VND/kg.
At the same time, Dak Lak province's purchase price was 65,300 VND/kg, down 600 VND/kg.
Dak Nong recorded a transaction price of 65,400 VND/kg. This is the highest price among the surveyed localities after a decrease of 600 VND/kg.
Market | Medium | Change |
Dak Lak | 65,300 | -600 |
Lam Dong | 64,700 | -900 |
Gia Lai | 65,100 | -600 |
Dak Nong | 65,400 | -600 |
USD/VND exchange rate | 23,480 | -40 |
Unit: VND/kg
Exchange rate according to Vietcombank
Coffee price developments from January to July 13. (Synthesis: Anh Thu )
Update world coffee prices
According to records, coffee prices on the market continue to decrease. Specifically, the online price of robusta coffee in London for delivery in September 2023 was recorded at 2,534 USD/ton after decreasing by 1.4% (equivalent to 36 USD).
The price of Arabica coffee for September 2023 delivery in New York was at 157 US cents/pound after decreasing 0.35% (equivalent to 0.55 US cents) at the time of survey at 6:45 a.m. (Vietnam time).
Photo: Anh Thu
Fair Trade USA has controversially announced it will freeze the current minimum price and premium for all coffee sold under the Fair Trade Certified label until 2023.
The non-profit will not follow Fairtrade International in raising the minimum price for coffee this year, with more than 600 Fairtrade coffee producing organisations calling for the decision to be reversed.
In March, Fairtrade International announced it would increase the minimum price for coffee from August to provide a “safety net” for coffee farmers facing high inflation, rising production costs and volatile market prices.
Fairtrade International's base price for arabica coffee, which accounts for more than 80% of all Fairtrade coffee sold, will increase by 29% to $1.80/lb, while robusta prices will increase by 19% to $1.20/lb.
The premium price of organic Fairtrade coffee will increase by 33%, from $0.30 to $0.40 per pound, according to the World Coffee Portal .
However, Fair Trade USA says it has previously adopted a similar pricing model to Fairtrade International on a voluntary basis and is not required to follow their lead.
The nonprofit’s minimum price will remain at $1.40 per pound for arabica and $1.05 per pound for robusta. The Fair Trade USA social premium ($0.20 per pound) and organic premium ($0.30 per pound) will also remain the same.
Following Fairtrade International's announcement, Fair Trade USA conducted its own stakeholder consultation in April, the results of which will be announced in the coming weeks.
“Through our recent listening tour, we heard clearly from our stakeholders that to increase our impact on farmers, workers, companies and consumers, we need to innovate and refresh the Fair Trade coffee model now,” said Paul Rice, Founder & CEO of Fair Trade USA.
However, more than 600 Fairtrade coffee producers from around the world have called on Fair Trade USA to reconsider its decision. In a joint statement, they said the move would force producers to sell coffee below the cost of production.
“As producer organizations and networks, we always accompany the establishment of fair prices in our programs and projects, but fair purchasing practices and prices are the basis and condition for social and environmental justice of small producer organizations (CLAC),” said Ms. Marike de Peña, President of the Latin American and Caribbean Network.
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