Coffee price on 11/16/2023: Increased sharply to VND 60,000/kg

Coffee prices on 11/16 in the world

Around the world, the London and New York exchange prices on November 16 simultaneously increased sharply.

In particular, the price of Robusta on the London exchange for delivery in November 2023 increased sharply by $ 75; increased to $ 2,549/ton.

On the New York exchange, the price of Arabica delivered in December 2023 increased to 4.35 cents; down to 180.80 cents/lb. And the March 2024 term increased sharply by 3.75 cents; at 175.15 cents/lb.

World coffee prices today increased sharply by 2-3% compared to yesterday. The reason that experts pointed out is the peak heat this week in many coffee-growing regions of Brazil. 

Not only that, the price of these agricultural products is also strongly supported by the psychology of coffee producers and traders. Most of them believe that the Fed's interest rate hike cycle has ended, and the USD is no longer anchored at high levels.

In actual market developments, the strong increase also comes from the deep decline in inventory on the 2 floors and the expected slow release of the new Vietnamese trading goods. VICOFA forecasts that Vietnam's 2023/2024 crop year will be harvested later than the previous crop year. 

Thus, world coffee prices on 11/16/2023 increased compared to yesterday.

Coffee prices on 11/16 in the country

The domestic market price on November 16 increased by VND 800/kg compared to yesterday.

Specifically, in Lam Dong province, 3 districts of Di Linh, Bao Loc and Lam Ha are trading at the same price level of VND 59,300/kg.

In Dak Lak, Cu M'gar district today is purchasing at VND 60,000/kg. Ea H'leo and Buon Ho districts are trading at a price of VND 59,900/kg.

In Dak Nong province, traders Gia Nghia and Dak R'lap are trading at VND 59,900 and VND 59,800/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 59,800/kg, while Pleiku and La Grai are maintaining the same price at VND 59,700/kg.

The purchasing price in Kon Tum today is VND 59,800/kg.

Domestic coffee prices increased sharply today after a slight decrease yesterday. Consequently, the change brings the price of this agricultural product back to the threshold of VND 60,000/kg.

Thus, the domestic coffee price on 11/16/2023 is trading around the threshold of VND 59,300 - 60,000/kg.

$ 1 = VND 24.085 - Source: Vietcombank