Coffee price on 08/4/2023: Turning to decrease slightly

World coffee price on August 4

Coffee prices on August 4 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 $29/ton, to $2,645/ton. And the November delivery term on this exchange decreased by $16/ton, at $2,516/ton.

The price of Arabica on the New York exchange for September delivery fell 2.20 cents/lb; down to 164.75 cents/lb. And December 2023 delivery fell by 2.35 cents/lb; at 164.00 cents/lb.

World coffee prices today decreased. Robusta on the London exchange decreased slightly, not more than 1%; and Arabica on the New York exchange fell sharply when losing 1.4% compared to yesterday. 

Reports emerged earlier this summer that coffee producers (including JDE Peet's - the Dutch coffee company) are delaying purchases from Brazil - the leading coffee-growing country.

This is because they are waiting for prices to fall after bad weather limited supply for two years, instead of using up the stockpile accumulated during the pandemic. 

Coffee producers expect a larger crop this year to lead to lower prices.

According to the USDA, Arabica production in Brazil in the crop year 2023-2024 will increase by 12% compared to the previous season due to favorable weather conditions. 

According to BNN Bloomberg, despite the decline from the peak, Robusta prices are still at a 12-year high and are expected to remain volatile.

Thus, the price of coffee on 08/4/2023 in the world turned down compared to yesterday.

Domestic coffee price on August 4

Coffee prices on August 4 in the country simultaneously decreased slightly by VND 300-400/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 66,600/kg. 

In Cu M'gar district (Dak Lak), the price of coffee today is kept at VND 67,300/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is kept at VND 67,200/kg.

In Dak Nong province, traders Gia Nghia and Dak R'lap are purchasing at VND 67,600 and VND 67,500/kg, respectively. 

In Gia Lai, Chu Prong district is trading at VND 67,000/kg, while Pleiku and La Grai are holding at VND 66,900/kg.

The purchase price at Kon Tum today is VND 67,000/kg.

The domestic coffee price today turned down but is still above the threshold of VND 67,000/kg.

Thus, the price of coffee on August 4 in the country traded around the threshold of VND 66,600-67,600/kg.

$1 = VND 23,530.00 - Source: Vietcombank