Coffee price on 11/18/2023: Slightly decreased by VND 400/kg

Coffee prices on 11/18 in the world

Around the world, the London and New York exchange prices on November 18 simultaneously dropped sharply.

In particular, the price of Robusta on the London exchange for delivery in November 2023 decreased by $ 45; down to $ 2,521/ton. And the January 2024 delivery term price on this exchange decreased by $ 35; down to $ 2,449/ton.

On the New York exchange, the price of Arabica delivered in December 2023 decreased by another 5.15 cents; down to 170.95 cents/lb. And the March 2024 delivery term price decreased to 4.55 cents; at 166.65 cents/lb.

World coffee prices today dropped sharply. According to experts, the reason is due to information about good rain in Brazil's coffee-growing areas, along with the pressure of Vietnam's new crop coming to the market. 

In addition, newly released data shows that Brazil's coffee exports in October 2023 increased by 24% over the same period, reducing supply concerns. Vietnam and Indonesia increased Robusta imports from Brazil with an increase of 565.3% and 123.2%, respectively, in the first 10 months of this year.

Positive inflation data in the US and Brazil has prompted investors to bet on an end to the global interest rate hike cycle, especially relating to the Fed. This boosted demand for risky commodities, while currencies such as the Brazilian Real rose against the USD. A stronger Real discourages Brazilian exporters from selling coffee, sugar and grain priced in USD because profits when calculated in domestic currency decrease.​

On Thursday, November 16, the London Exchange reported that inventory increased by 190 tons, an increase of 0.51% compared to the previous day, registering at 38,490 tons (equivalent to 641,500 bags, 60 kg/bags). The above impact further fueled the downward trend on the London exchange.

Thus, world coffee prices on 11/18/2023 decreased sharply compared to yesterday.

Coffee prices on 11/18 in the country

The domestic market on November 18 decreased by VND 400/kg compared to yesterday. 

Specifically, in Lam Dong province, 3 districts of Di Linh, Bao Loc and Lam Ha are trading at the same level of VND 58,100/kg.

In Dak Lak, Cu M'gar district today is purchasing at VND 58,800/kg. Ea H'leo and Buon Ho districts are trading at a price of VND 58,700/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are trading at VND 58,500 and VND 58,400/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 58,500/kg, while Pleiku and La Grai are maintaining the same price at VND 58,400/kg.

The purchasing price in Kon Tum today is VND 58,500/kg.

Domestic coffee prices today decreased slightly, making this agricultural product unable to maintain the threshold of VND 60,000/kg.

There has never been a year when the price of agricultural products has been as high as this year. There was a time when businesses bought green coffee for up to nearly VND 70,000/kg, a double in price compared to the low price of this agricultural product.

Currently, green coffee in the Central Highlands is being sold by people to businesses for more than VND 57,000/kg. Although the price has dropped about 10 times compared to its peak, at this price, coffee growers in the Central Highlands still hit the jackpot. 

According to the People's Committee of Lam Ha district (Lam Dong province), the locality currently has more than 39,000 ha of coffee, this crop year is estimated to reach more than 136,000 tons of beans. Recently, many gardeners have harvested green coffee for sale. There is a garden where green coffee accounts for up to 50% but has been harvested by the homeowner.

The agricultural sector of Lam Dong province has also provided guidance to coffee growers during this harvest season. Local authorities in Lam Dong have also requested coffee purchasing and processing establishments to have purchasing mechanisms appropriate to coffee quality, without price pressure, at the same time, promote the purchase and consumption of coffee products for people through economic contracts and strictly prohibit the purchase of coffee while the fruit is still unripe. 

Thus, the domestic coffee price on 11/18/2023 is trading around the threshold of VND 58,100 - 58,800/kg.

$ 1 = VND 24.045 - Source: Vietcombank