Coffee price on 05/24/2023: Simultaneously decrease

World coffee price on May 24

Coffee prices on May 24 in the world market simultaneously decreased at both major exchanges.

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in July 2023 decreased by $ 72/ton (equivalent to 2.74%); down to $ 2,557/ton.

And the price of coffee delivered in September 2023 on this exchange decreased by $ 62/ton (equivalent to 2.41%); at $ 2,510/ton.

The price of Arabica coffee on the New York Stock Exchange for delivery in July 2023 decreased by 1.75 cents/lb (equivalent to 0.92%); down to 187.45 cents/lb.

For the September delivery term, the price of coffee on this exchange decreased by 1.7 cents/lb (equivalent to 0.91%), to 185.20 cents/lb.

World coffee prices today dropped sharply by over 2.4% on the London exchange. On the New York exchange, coffee prices continued to decline as the USD rose strongly.

The negotiation on the US public debt ceiling has yet to come to a conclusion, and this has pushed the dollar up, putting pressure on Arabica coffee.

The negotiation on the US public debt ceiling has yet to come to a conclusion, and this has pushed the USD up, putting pressure on Arabica coffee.

On the London exchange, business positions were overbought, and speculators and funds were pushed to sell and liquidate. The last session was also the closing day of business positions on the London exchange, so the strong selling force pulled the price of Robusta coffee down sharply.

Commenting on the coming time, experts still think that the price of Robusta coffee will continue to increase. Because the US stock market's weakening will create opportunities for this commodity to rise again thanks to the inflow of capital.

In addition, weak supply from producing countries, and the forecast of a year of crop failure in Indonesia will continue to support this coffee increase in price.

Thus, the price of coffee on 05/24/2023 in the world market decreased sharply compared to yesterday.

Domestic coffee prices on May 24

Coffee price on May 24 in the domestic market plummeted to VND 800/kg compared to yesterday.

Specifically, the price of Lam Dong coffee (in 3 districts of Di Linh, Bao Loc, and Lam Ha) is being purchased at VND 59,900/kg today.

In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 60,300/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 60,200/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 60,500 and VND 60,400/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 60,200/kg; while at Pleiku and La Grai are holding at VND 60,400/kg.

The price of coffee today in Kon Tum is being purchased at VND 60,400/kg.

The domestic coffee price today turned around and dropped sharply by VND 500-800/kg. And this has made the domestic coffee market unable to stay at VND 61,000/kg.

Thus, the price of coffee on 05/24/2023 in the domestic market traded around the threshold of VND 59,900 - 60,500/kg.

$ 1 = VND 23,300.00 - Source: Vietcombank