Coffee price on 07/28/2023: The new threshold of VND 68,000/kg

World coffee price on July 28

Coffee prices on July 28 in the world increased and decreased in two major exchanges.

At the time of the survey, the price of Robusta on the London exchange for delivery in September 2023 increased sharply by $34/ton, to $2,673/ton. And the November delivery term on this floor increased by $19/ton, at $2,499/ton.

The price of Arabica on the New York exchange for delivery in September 2023 turned down 1.70 cents/lb; to 161.45 cents/lb. And December 2023 delivery decreased by 1.50 cents/lb; at 161.70 cents/lb.

World coffee prices today are increasing on the London exchange but turned down on the New York exchange. 

After the release of US economic data showing a better-than-expected situation, the USD rose. And this pushed the price of Arabica back down. 

Meanwhile, Robusta is less affected by the USD exchange rate. Meanwhile, the concern of shortage of supply of this commodity continues, thereby driving the price of Robusta to continue to increase.

The Association of Coffee Producers and Exporters of Indonesia (AEKI) expects the country's coffee production to drop by up to 20% in 2023, to 9.6 million bags due to heavy rain in the main crop regions. 

Indonesia is currently the world's third largest producer of Robusta. In addition, the El Nino weather phenomenon, which is expected to develop globally in the second half of this year, also poses a greater risk to Robusta coffee than to Arabica. 

Thus, the price of coffee on 07/28/2023 in the world simultaneously increased slightly compared to yesterday.

Coffee price in the country on July 28

Coffee prices on July 28 in the country increased by VND 400/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 67,100/kg.

In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 67,600/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 67,500/kg.

In Dak Nong province, traders Gia Nghia and Dak R'lap are purchasing at VND 67,800 and VND 67,700/kg, respectively.

In Gia Lai, Chu Prong district is trading at VND 67,500/kg, while Pleiku and La Grai are holding at VND 67,400/kg.

The purchase price at Kon Tum today is VND 67,400/kg.

The domestic coffee price today increased again and is approaching a new high - VND 68,000/kg.

Thus, the price of coffee on 07/28/2023 in the country traded around the threshold of VND 67,100-67,800/kg.

$1 = VND 23,490.00 - Source: Vietcombank