Coffee price on 05/14/2023: Strong increase, surpassing VND 55,000/kg

World coffee price today May 14

Coffee price on May 14 in the world market has no new changes in both major exchanges.

At the time of the survey, the price of Robusta coffee on the London exchange in July 2023 was $2,432/ton. And the price of coffee delivered in September 2023 on this exchange is $2,409/ton.

The price of Arabica coffee on the New York Stock Exchange in July 2023 was anchored at 182.85 cents/lb. For the September delivery term, the price of coffee on this exchange is 180.65 cents/lb.

World coffee prices today remained stable. Summarizing this week, the global coffee market turned down sharply. 

In which, the price of Robusta coffee for spot delivery in July decreased by $39. And the price of Arabica coffee for July delivery fell to 5.2 cents.

In the last session of the week, the market was mixed. This is due to different speculation in the world futures markets right before the crop in Brazil.

The country's Conilon Robusta coffee-growing regions have kicked off this year's harvest. A few months later, Arabica coffee growing areas in Brazil will be harvested. 

Currently, the world market continues to record a low supply of Robusta coffee, in the context of increasing consumption demand.

Robusta Coffee's recovery was also supported by the British pound after the Bank of England (BoE) raised interest rates by 0.25%. This is to help prevent inflation, which affected speculators in the London exchange.

Thus, the price of coffee today 14/5/2023 in the world market is sideways compared to yesterday.

The price of domestic coffee today May 14

Coffee price on May 14 in the domestic market continued to increase sharply by VND 1,000/kg compared to yesterday. 

Specifically, the price of Lam Dong coffee (in 3 districts of Di Linh, Bao Loc, and Lam Ha) is currently being purchased at VND 54,900/kg.

In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 55,300/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 55,200/kg. 

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 55,300 and 55,200/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 55,200/kg; while Pleiku and La Grai are holding the same level of VND 55,100/kg.

The price of coffee today in Kon Tum is being purchased at VND 55,200/kg.

The domestic price of coffee today continued to increase strongly and surpassed the mark of VND 55,000/kg. Summarizing this week, the domestic coffee market increased by VND 1,300 - 1,700/kg.

Some traders in the Southeast Asian coffee market are still struggling to find sources of Robusta coffee, while the supply from Vietnam seems to have been exhausted.

This helps domestic coffee increase hot and surpass the threshold of VND 55,000/kg this week.

Thus, today's coffee price on May 14, 2023, in the domestic market traded around the threshold of VND 54,900 - 55,300/kg.

$1 = VND 23,270.00 - Source: Vietcombank