Coffee price on 06/1/2023: increasing over VND 9,000/kg

World coffee price on June 1

The price of coffee on June 1 in the world market fluctuated in 2 major exchanges.

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in July 2023 decreased slightly by $ 6 /ton (equivalent to 0.23%); to $ 2,556/ton.

And the price of coffee delivered in September 2023 on this exchange went sideways; kept at $ 2,520/ton.

The price of Arabica coffee on the New York Stock Exchange delivered in July 2023 increased slightly by 1.55 cents/lb (equivalent to 0.88%); to 178.65 cents/lb.

For the September delivery term, the price of coffee on this exchange increased by 1 cent/lb (equivalent to 0.57%), at 175.85 cents/lb.

World coffee prices today are falling slightly on the London exchange while still being influenced by a strong increase in Vietnam's coffee exports in May 2023.

In addition, the move to balance business positions after the recent hot surge, caused funds and speculators to take short-term profits. This is followed by the continuous decline in prices of Robusta coffee.

Meanwhile, coffee on the New York Exchange is recovering slightly after a series of consecutive days of decline. The reason comes from the weakening USD, plus the amount of Arabica coffee on this exchange is also decreasing.

Inventories of standard Arabica coffee on the New York Exchange (as of the end of May 30) have decreased to 592,634 bags ( 60kg/bags) - the lowest level recorded since the end of November 2022. In particular, in the daily inventory report, the number of bags waiting for additional sorting remained at zero.

Summarizing May 2023, the global coffee market fluctuated in opposite directions. Accordingly, the price of Robusta coffee delivered in July 2023 increased sharply by $ 147/ton, while the price of Arabica coffee delivered in July 2023 fell sharply by 7.3 cents/lb.

Thus, the price of coffee on 06/1/2023 in the world market increased and decreased in contrast to yesterday. 

Domestic coffee price on June 1

Coffee prices on June 1 in the domestic market remained stable 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 60,100/kg. 

In Cu M'gar district (Dak Lak), the price of coffee today is VND 60,700/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is kept at VND 60,600/kg. 

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 60,700 and VND 60,600/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 60,500/kg; while the price 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 60,500/kg.

The domestic coffee price today has no new changes and is close to the mark of VND 61,000/kg.

Summarizing in May 2023, the domestic coffee market continued to increase sharply, when the price increased by VND 9,200/kg. This is also the second consecutive month that domestic coffee prices have increased sharply. In April 2023, the domestic coffee price increased from 2,600 to VND 2,800/kg.

Thus, the price of coffee on 06/1/2023 in the domestic market traded around the threshold of VND 60,100 - 60,700/kg.

$ 1 = VND 23,285.00 - Source: Vietcombank