Coffee price on 07/4/2023: The market increased strongly again

World coffee price on July 4

Coffee prices on July 4 in the world market simultaneously increased in both major exchanges.

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in September 2023 increased sharply by $47/ton (equivalent to 1.89%); to $2,538/ton.

And the price of coffee delivered in November 2023 on this exchange is increasing by $46/ton (equivalent to 1.92%), at $2,437/ton.

The price of Arabica coffee on the New York Stock Exchange delivered in September 2023 increased slightly by 1.50 cents/lb (equivalent to 0.94%); to 160.50 cents/lb.

For the November delivery term, the price of coffee on this exchange increased by 1.60 cents/lb (equivalent to 1.01%); to 159.70 cents/lb.

World coffee prices today simultaneously increased. In which, the price of coffee on the London exchange increased sharply by nearly 2%, while the New York exchange increased by about 1%.

Last week, Brazil's local currency increased and the pressure of selling new crops from this country caused the coffee futures market to fall deeply.

The dry weather in the coffee-growing regions of southern Brazil contributed to the favourable harvest of the crop. The above factor also pushed the price of Arabica coffee to its lowest point in the past 5 months.

On the London exchange, Robusta coffee inventories on June 30 increased by 220 tons (up 1.30%) compared to the previous 2 days, to register at 75,950 tons (equivalent to 1,232,500 bags, 60 kg/bags). This marked the end of a string of consecutive declines in London.

However, coffee exports in June 2023 of Vietnam are decreasing compared to the same period last year. And this contributes to pushing Robusta coffee up again.

This week, a series of important economic data will be released, especially the US Jobs Report. The positive jobs report will help reinforce another interest rate hike in July. These moves will strongly affect coffee.

Thus, the price of coffee on 07/4/2023 in the world market increased compared to yesterday.

Domestic coffee price on July 4

Coffee prices on July 4 in the domestic market increased by VND 600/kg in some places 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 64,800/kg.

In Cu M'gar district (Dak Lak), the price of coffee today is kept at VND 65,200/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 65,100/kg. 

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 65,400 and VND 65,300/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 65,000/kg; while the price at Pleiku and La Grai are holding at VND 64,900/kg.

The price of coffee today in Kon Tum is being purchased at VND 65,000/kg.

The domestic coffee price today has increased for the second day in a row and brought back the threshold of VND 65,000/kg.

Coffee exports in June 2023 in our country are estimated at 150 thousand tons, up 0.1% compared to the previous month. Coffee exports in the first 6 months of the year were estimated at 1,016 million tons (about 16.9 million bags, 60 kg/bags), down 2.2% over the same period last year. 

Thus, the price of coffee on 07/4/2023 in the domestic market traded around the threshold of VND 64,800 - 65,400/kg.

$1 = VND 23,470.00 - Source: Vietcombank