Coffee price on 06/24/2023: Reducing by VND 500/kg

World coffee price on June 24

Coffee prices on June 24 in the world market simultaneously fell sharply 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 $ 54/ton (equivalent to 1.93%); down to $ 2,738/ton.

And the price of coffee delivered in September 2023 on this exchange dropped sharply by $ 73/ton (equivalent to 2.66%), at $ 2,676/ton.

The price of Arabica coffee on the New York exchange delivered in July 2023 decreased to 5.40 cents/lb (equivalent to 3.17%); down to 164.85 cents/lb.

For the delivery term in September 2023, the price of coffee on this exchange decreased by 5.2 cents/lb (equivalent to 3.08%); to 163.85 cents/lb.

World coffee prices today fell more than 1.9% on the London exchange and fell sharply by over 3% on the New York exchange.

With this sharp drop, the price of Robusta coffee dropped to the lowest level in the past 10 days. Meanwhile, Arabica coffee prices fell to the lowest level in the past 3 months.

According to experts, Robusta coffee continues to be heavily liquidated on the London exchange. The tough stance of some central banks this week has raised concerns that commodity demand will be affected.

According to the Industry and Trade Information Centre, coffee trading in the Vietnamese market has stalled due to a continued shortage of Robusta coffee. Meanwhile, coffee prices in Indonesia - the world's number two exporter - rose this week on the back of tight supplies, and to offset the recent drop in London futures prices.

Thus, the price of coffee on 06/24/2023 in the world market decreased sharply compared to yesterday.

Domestic coffee price on June 24

Coffee price on June 24 in the domestic market decreased by VND 500/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 65,300/kg.

In Cu M'gar district (Dak Lak), the price of coffee today is kept at VND 65,800 /kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is kept at VND 65,700/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 66,000 and VND 65,900/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 65,500/kg; while the price at Pleiku and La Grai are keeping at VND 65,400/kg.

And today's coffee price in Kon Tum is buying at VND 65,500/kg.

The domestic price of coffee today decreased slightly but is still maintaining the threshold of VND 66,000/kg.

Thus, the price of coffee on 06/24/2023 in the domestic market traded around the threshold of VND 65,300 - 66,000/kg.

$ 1 = VND 23,320.00 - Source: Vietcombank