Coffee price on 07/23/2023: Strong increase this week.

World coffee price on July 23

Coffee prices on July 23 in the world simultaneously moved sideways at both major exchanges.

At the time of the survey, the price of Robusta on the London exchange for delivery in September 2023 was kept at $2,602/ton. And the delivery term in November 2023 on this exchange is priced at $2,441/ton.

The price of Arabica on the New York exchange for delivery in September 2023 was anchored at 161.85 cents/lb. And December 2023 delivery increased by 3.25 cents/lb at 161.55 cents/lb.

World coffee prices today remained stable. Summarizing this week, the world coffee market simultaneously increased sharply. 

In which, the price of Robusta coffee for September delivery increased by $62/ton and for November delivery increased by $36/ton. The price of Arabica coffee for September delivery increased by 0.95 cents and for December delivery increased by 1.25 cents/lb.

In the last 3 sessions of the week, the price of this agricultural product continuously increased and decreased on the two exchanges because speculators manipulated and traded the difference between the two coffee products. 

The high USD hindered the rally while the fundamentals remained unchanged. Low inventory with an inverse price structure shows short-term supply is lacking.

Thus, the world coffee price on 07/23/2023 remained stable compared to yesterday.

Coffee price in the country on July 23

Coffee price on July 23 in the country has no new changes compared to yesterday.

Specifically, in 3 districts of Di Linh, Bao Loc and Lam Ha of Lam Dong province, they are trading at the same level of VND 66,200/kg.

In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 66,700/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 66,600/kg.

In Dak Nong province, traders Gia Nghia and Dak R'lap are purchasing at VND 67,000 and VND 66,900/kg, respectively.

In Gia Lai, Chu Prong district is trading at VND 66,500/kg, while Pleiku and La Grai are holding at VND 66,400/kg.

The purchase price at Kon Tum today is VND 66,500/kg.

The domestic price of coffee today is flat and has reached VND 67,000/kg. This week, the domestic coffee market also increased strongly following the increase on the London exchange, when it increased from VND 1,300 to VND 1,500/kg.

Thus, the price of coffee on 07/23/2023 in the country traded around the threshold of VND 66,200 - 67,000/kg.