Coffee price on 08/15/2023: The market fell deeply

Coffee price on August 15 in the world

Around the world, the market coffee price on August 15 dropped sharply on both major exchanges.

At the time of the survey, the price of Robusta on the London exchange for delivery in September 2023 decreased by $ 52/ton, to $ 2,620/ton. And the November delivery term on this exchange decreased by $ 82/ton, at $ 2,435/ton.

The price of Arabica on the New York exchange for delivery in September 2023 fell deeply by 6.70 cents/lb; down to 151.10 cents/lb. And December 2023 delivery fell to 5.10 cents/lb; at 152.60 cents/lb.

The world coffee market simultaneously fell deeply due to strong selling in Brazil. According to experts, the Brazilian Real fell to the lowest level in 2.5 months, pushing people here to sell vigorously the new crop to earn more foreign currency. 

The New York exchange was also affected by the soaring USD. On the morning of August 15, on the US market, the DXY index reached 103.17. 

According to experts, the dollar hit its highest level in more than a month in the last session, amid worries about worries surrounding the Chinese economy.

Thus, the decline of Robusta and Arabica continues into this week, although supply and inventories on the London exchange are still low and have not been improved. 

Inventories of Robusta certified and tracked by the London exchange (as of August 11) have decreased by 1,620 tons, or 3.18% compared to the previous week, registered at 49,340 tons (approximately 822,333 bags, 60 kg/bag), continuing to remain at a low level since 2016. 

The shortage of Robusta makes this new crop from Brazil sell more strongly to the market. 

Thus, the price of coffee today on 08/152023 in the world decreased deeply compared to yesterday.

Coffee price on August 15 in the country

Domestically, the market on August 15 fell deeply by VND 1,700/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 65,000/kg.

In Dak Lak, Cu M'gar district today is buying at VND 65,600/kg. And Ea H'leo and Buon Ho districts are trading at VND 65,500/kg.

In Dak Nong province, traders Gia Nghia and Dak R'lap are purchasing at VND 65,800/kg.

In Gia Lai, Chu Prong district is trading at VND 65,200/kg, while Pleiku and La Grai are holding at VND 65,100/kg.

The purchase price at Kon Tum today is VND 65,200/kg.

The domestic market is also falling deeply following the downward trend on the London exchange when it decreased by VND 1,600 - 1,700/kg compared to yesterday. Currently, the highest transaction price is VND 65,800/kg.

Thus, the price of coffee on 08/15/2023 in the country traded around the threshold of VND 65,000 - 65,800/kg.

$ 1 = VND 23,665.00 - Source: Vietcombank