Coffee price on 07/12/2023: The market price continues to fall

World coffee price on July 12

Coffee prices on July 12 in the world market continued to decline in both major exchanges.

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in September 2023 decreased by $6/ton (equivalent to 0.23%); down to $2,570/ton.

And the price of coffee delivered in November 2023 on this exchange decreased by $14/ton (equivalent to 0.57%), at $2,422/ton.

And the price of Arabica coffee on the New York exchange for September delivery in September 2023 decreased by 2.30 cents/lb (equivalent to 1.44%); to 157.55 cents/lb.

For the November delivery term, the price of coffee on this exchange is also decreasing by 2.30 cents/lb (equivalent to 1.44%); at 157.00 cents/lb.

World coffee prices today continued to decline. The price of coffee on the New York exchange fell to the lowest level in the past 5.5 months, while the London exchange resisted quite well on the day of closing business positions.

The selling pressure of the new crop continued to drag down coffee prices, despite the report that inventories on the floor fell to "dangerous" levels. The decline of Robusta coffee partly alleviated the concern of supply shortage, and the report predicts that Vietnam's coffee output at the end of this year's harvest will decrease by approximately 10% of the Vietnam Coffee and Cocoa Association (Vicofa).

Inventories report on the London exchange on Monday, July 10, decreased another 3,020 tons, to 56,860 tons - less than a year. 

The International Coffee Organization (ICO) forecasts that the global coffee supply in crop year 2022/23 will be about 171.3 million bags while consumption is at 178.5 million bags. With this forecast, the world coffee market may have a deficit of 7.3 million bags in the current crop year.

Thus, the price of coffee on 07/12/2023 in the world market continues to decrease compared to yesterday.

Domestic coffee price on July 12

Coffee price on July 12 in the domestic market decreased slightly by VND 100/kg compared to yesterday.

Specifically, the price of Lam Dong coffee (in 3 districts of Di Linh, Bao Loc and Lam Ha) is being purchased at VND 65,600/kg today.

In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 65,900/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is kept at VND 65,800/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 65,700/kg; while at Pleiku and La Grai are keeping at VND 65,600/kg.

The price of coffee today in Kon Tum is being purchased at VND 65,600/kg.

The domestic price of coffee today has a second consecutive decrease and is at risk of losing the mark of VND 66,000/kg.

Thus, the price of coffee on 07/12/2023 in the domestic market traded around the threshold of VND 65,600 - 66,000/kg.

$1 = VND 23,470.00 - Source: Vietcombank