Coffee price on 06/21/2023: The market fell simultaneously

World coffee price on June 21

Coffee prices on June 21 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 turned to decrease by $26/ton (equivalent to 0.92%); to $2,807/ton.

And the price of coffee delivered in September 2023 on this exchange decreased by $13/ton (equivalent to 0.47%), at $2,770/ton.

And the price of Arabica coffee on the New York exchange for delivery in July 2023 fell deeply to 7.45 cents/lb (equivalent to 4.03%); down to 177.45 cents/lb.

For the delivery term in September 2023, the price of coffee on this exchange decreased by 4.65 cents/lb (equivalent to 2.57%); to 176.10 cents/lb.

World coffee prices today at the New York exchange dropped a shock right after the exchange reopened due to falling on the closing day of weekly business positions.

Funds and speculators liquidated their net positions to reduce risk, as technical indicators showed that they had entered the previous overbought zone. 

Meanwhile, Arabica coffee traders are also not in a hurry to bring their goods to the exchange to register for certification, as they are waiting for the price to drop further with the increased selling pressure of the new crop being harvested in Brazil. 

According to a report from Bloomberg, the world's largest coffee producers are delaying the purchase of coffee beans from Brazil, as they use up the stockpile accumulated during the pandemic and wait for prices to drop. This information put pressure on Arabica coffee prices. 

On the London exchange, the price of Robusta coffee on this exchange decreased but not much. For now, this coffee item is still supported by a more limited supply in Vietnam and still hot demand from roasters. 

In addition, the market is also concerned about Robusta coffee production in Indonesia which may be affected by excessive rain. 

Thus, the price of coffee on 06/21/2023 in the world market is decreasing compared to yesterday.

Domestic coffee prices on June 21

Coffee price on June 21 in the domestic market decreased 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 buying at VND 66,100/kg today. 

In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 66,600/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 66,500/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 66,800 and VND 66,700/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 66,300/kg; while at Pleiku and La Grai are holding at VND 66,200/kg.

The price of coffee today in Kon Tum is being purchased at VND 66,300/kg.

The domestic coffee price today dropped slightly after a strong increase to the threshold of VND 67,000/kg yesterday. Currently, the highest purchasing price in the domestic coffee market is VND 66,800/kg.

Thus, the price of coffee today 06/21/2023 in the domestic market traded around the threshold of VND 66,100 - 66,800/kg.

$1 = VND 23,310.00 - Source: Vietcombank