Coffee price on 05/27/2023: Slight increase again

World coffee price on May 27

Coffee prices on May 27 in the world market increased and decreased in two major exchanges.

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in July 2023 increased by $21/ton (equivalent to 0.82%); up to $2,574/ton.

And the price of coffee delivered in September 2023 on this exchange increased by $20/ton (equivalent to 0.8%); to $2528/ton.

And the price of coffee delivered in September 2023 on this exchange increased by $20/ton (equivalent to 0.8%); to $2528/ton.

For the September delivery term, the price of coffee on this exchange is also down 1.1 cents/lb (equivalent to 0.61%), at 179.55 cents/lb.

The world coffee price today is increasing slightly on the London exchange but falling on the New York exchange.

In the last session, prices of all commodities increased, except cocoa and Arabica coffee. Coffee on the New York exchange is affected by the high USD value.

The USD had a third straight week of increases as markets bet on the Fed to keep interest rates higher for longer. Meanwhile, investors are closely watching all developments in the final negotiations on the US debt ceiling.

According to the second crop survey report of Conab (Brazil), this country has increased by 1.9% of coffee growing area, bringing the total production this year to 14.7%, to 54.74 million bags of coffee of all kinds in the same "two-year" cycle for high output. And this has put pressure on Arabica coffee prices.

For Robusta Coffee, concerns about short-term supply shortages persist. Major producers have just started harvesting the new 2022/23 crop. It is forecasted that there will still be a shortage of 7.3 million bags of Robusta coffee this year.

Thus, the price of coffee on 05/27/2023 in the world market fluctuated oppositely compared to yesterday.

Domestic coffee prices on May 27

Coffee price on May 27 in the domestic market increased slightly by VND 300/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 60,300/kg.

In Cu M'gar district (Dak Lak), the price of coffee today is VND 60,800/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 60,700/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 60,800 and VND 60,700/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 60,700/kg; while at Pleiku and La Grai are holding at VND 60,600/kg.

The price of coffee today in Kon Tum is being purchased at VND 60,700/kg.

Domestic coffee prices today increased slightly again after yesterday's drop. Currently, the domestic coffee market is approaching the price mark of VND 61,000/kg.

Thus, today's coffee price on 05/27/2023 in the domestic market traded around the threshold of VND 60,300 - 60,800/kg.

$1 = VND 23,290.00 - Source: Vietcombank