November 24, 2024 | 01:03 GMT +7
November 24, 2024 | 01:03 GMT +7
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The price of coffee on July 26 in the world simultaneously decreased at both major exchanges.
At the time of the survey, the price of Robusta on the London exchange for delivery in September 2023 decreased by $28/ton, to $2,621/ton. And the November delivery term on this exchange increased slightly by $17/ton, at $2,458/ton.
The price of Arabica on the New York exchange for delivery in September 2023 decreased slightly by 1.15 cents/lb; down to 161.85 cents/lb. And December 2023 delivery increased by 1.10 cents/lb; at 162.20 cents/lb.
World coffee prices today reversed to decline due to a balance of funds and speculation. This also includes adjustment of the business position under the pressure of rising monetary interest rates as expected at policy meetings later this month of major central banks around the world.
In which, the price of Arabica coffee on the New York exchange delivered in September and December 2023, respectively, decreased slightly by 0.71% and 0.67%. And the price of Robusta coffee on London exchange for delivery in September and November 2023, respectively, decreased by 1.06% and 0.69%, respectively.
Wall Street investors speculated that the Fed will continue to tighten monetary policy in the context that global inflation has eased somewhat but is still above a fairly high target level.
Drier weather conditions in the main producing states in southern Brazil have well-supported coffee farmers to step up their harvest late in the season. Therefore, the selling pressure of the new crop and the Reais were weaker, the exchange rate decreased by 0.33% to R 4.7490/USD. This caused a long-term liquidation in the coffee futures markets on the eve of the upcoming monetary policy sessions, starting with the Fed with today's session.
However, the market still expects the Fed to have a more dovish policy, less inclined to raise interest rates when inflation is cooling down.
The coffee industry is still being actively supported by the lack of supply of Robusta coffee, both in the short and long term with low inventory. It seems that funds and speculators quickly implanted new monetary interest in commodity prices in general, helping this agricultural commodity to increase in price.
Thus, the price of coffee on 07/26/2023 in the world simultaneously increased sharply compared to yesterday.
Coffee prices on July 26, in the country, dropped by VND 600/kg 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 66,400/kg.
In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 66,900/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 66,800/kg.
In Dak Nong province, traders Gia Nghia and Dak R'lap are purchasing at VND 67,100 and VND 67,000/kg, respectively.
In Gia Lai, Chu Prong district is trading at VND 66,800/kg, while Pleiku and La Grai are holding at VND 66,700/kg.
The purchase price at Kon Tum today is VND 66,700/kg.
Coffee prices in the country today turned down according to fluctuations on the London exchange. Despite a sharp decrease, the domestic coffee market still maintained the threshold of VND 67,000/kg.
Thus, the price of coffee on 07/262023 in the country traded around the threshold of VND 67,000 - 67,700/kg.
$1 - VND 23,465.00 - Source: Vietcombank.
Translated by Hoang Duy
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(VAN) Coffee prices on November 21, 2024, are stable. Domestic coffee prices are at VND 112,800 - 113,400/kg, increased by VND 6,000 over this week.
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(VAN) Pepper prices on November 20, 2024, only increases slightly in Dak Lak. The domestic pepper price is still trading around VND 138,500 - 140,000/kg.