Coffee price on 05/18/2023: increasing sharply over VND 57,000/kg

World coffee price on May 18

Coffee prices on May 18 in the world market fluctuated oppositely in 2 major exchanges.

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in July 2023 increased from $71/ton (equivalent to 2.83%); to $2,582/ton. 

And the price of coffee delivered in September 2023 on this exchange increased sharply by $50/ton (equivalent to 2.01%); at $2,534/ton.

The price of Arabica coffee on the New York Stock Exchange for delivery in July 2023, turned down slightly by 0.75 cents/lb (equivalent to 0.4%); to 186.05 cents/lb.

For the September delivery term, the price of coffee on this exchange decreased slightly by 0.70 cents/lb (equivalent to 0.38%), at 183.75 cents/lb. 

World coffee prices today fluctuated with a strong increase on the London exchange but slightly decreased on the New York exchange.

The dollar reached a 7-week high yesterday, boosted by optimism about a debt ceiling deal. A flurry of upbeat economic data suggests that a Fed rate cut could come later. This has caused the price of Arabica coffee on the New York exchange to decrease.

Meanwhile, the price of coffee futures on the London exchange continues to heat up the global coffee market. The coffee price set a 12-year high after the top Robusta coffee producer reported a drop in exports.

According to observers, Vietnamese farmers have almost no coffee left to sell due to low output, while most of the area is diverted to growing durian and passion fruit due to higher profits.

Currently, Vietnamese farmers have sold about 90% of the crop. According to a Southeast Asian coffee trader, it is almost impossible to buy Vietnamese coffee to fulfill a contract at the moment because they are too expensive. 

Thus, the price of coffee on 05/18/2023 in the world market increased and decreased oppositely compared to yesterday.

Domestic coffee price on May 18

Coffee price today 18/5 in the domestic market increased sharply by VND 700/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 57,000/kg.

In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 57,500/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 57,400/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 57,500 and VND 57,400/kg respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 57,400/kg; while at Pleiku and La Grai are holding at VND 57,300/kg.

The price of coffee today in Kon Tum is VND 57,400/kg.

The domestic coffee price today continued to increase strongly following the increase of the London exchange and far exceeded the mark of VND 57,000/kg.

The reason for the strong increase came from the lack of coffee supply in our country. The sales volume is already about 90%, it is difficult for businesses to make further purchases.

Meanwhile, the production forecast for next season also causes many worries. Due to the unpleasant climatic fluctuations, intense heat can reduce the yield of the next crop.

In addition, the area planted with coffee is still decreasing because most people are shifting to other crops with better prices. 

Thus, the price of coffee on 05/18/2023 in the domestic market traded around the threshold of VND 57,000 - 57,500/kg.

$1 = VND 23,240.00 - Source: Vietcombank