Coffee price on 06/12/2023: price increases by VND 100-300/kg

World coffee price on June 12

Coffee prices on June 12 in the world market remained stable at both major exchanges.

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in July 2023 was kept at $ 2,728/ton. And the price of coffee delivered in September 2023 on this exchange is anchored at $ 2,702/ton.

The price of Arabica coffee on the New York exchange delivered in July 2023 remained at 190.65 cents/lb. For the delivery term in September 2023, the price of coffee on this exchange is 186.65 cents/lb.

World coffee prices today have no new fluctuations. Last week, the world coffee market simultaneously increased sharply.

In which, the price of Robusta coffee for spot delivery in July increased to $ 153. The price of Arabica coffee for spot delivery in July increased by 10.3 cents.

The reason why Robusta's coffee price has increased sharply in recent years is due to the low supply. Supply is decreasing from both Vietnam to Brazil and Indonesia. Additionally, there is fear of severe weather with many forecasts showing that this year El Nino will raging. 

In the short term, the cold air mass originating from the south of Brazil is moving towards the Southeast - the main coffee-growing area. This can cause frost and subsequent rains, disrupting the coffee harvest.

In the long term, the El Nino phenomenon may cause coffee production in Brazil to decline in the next crop year due to a sudden increase in rainfall, reducing suitability for the growth of coffee in Brazil.

In terms of macro, traders are concerned that the Fed will continue to adjust interest rates, leading to a high USD price leading to higher interest rates, making it more difficult for businesses to buy goods. 

Thus, the price of coffee on 06/12/2023 in the world market is sideways compared to yesterday.

Domestic coffee price on June 12

Coffee price on June 12 in the domestic market increased slightly by VND 100-300/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 64,400/kg.

In Cu M'gar district (Dak Lak), the price of coffee today is kept at VND 65,000/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 64,900/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 65,100 and VND 65,000/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 64,600/kg; while the price at Pleiku and La Grai are holding the same level of VND 64,500/kg.

The price of coffee today in Kon Tum is being purchased at VND 64,600/kg.

The domestic coffee price today increased slightly, reaching the highest transaction level of VND 65,000/kg. Last week, the domestic coffee market increased to VND 3,000/kg.

High demand for buying, while the domestic market supply is scarce, has made coffee prices soar even on weekends - the time when world exchanges are closed. 

Thus, the price of coffee on 06/12/2023 in the domestic market traded around the threshold of VND 64,400 - 65,100/kg.

$ 1 = VND 23,270.00 - Source: Vietcombank