Coffee price on Nov 13: The strongest rise since the beginning of the year

Global coffee price

The global coffee price has increased continuously since the past few days.

By the end of last week trading session (Vietnam time), Robusta coffee price for November delivery in London increased by US$ 20  / ton (1.46%), trading at US$ 1,393/ ton; delivery price for March 2021 increased by US$20 at 1,421 / ton.

At New York stock Exchange, Arabica coffee price for December delivery went up 1 cent / lb (0.92%), to 110.1 cent / lb, delivery price for March 2021 increased by 1 cent / lb (0.89 %) to 112.95 cents / lb.

The Reais (Brazil) dropped 0.53% more, at the value of US$ 1 = Reais 5,4190, which helped to maintain foreign investors' optimism after recent losses.

In addition, the US stock market recovered powerfully, the dollar rose strongly given the optimism about the Covid-19 Vaccines and the controversial context of US presidential election.

Thus, global coffee price on Nov 13 continued to increase due to several positive factors.

Domestic coffee price

Domestic coffee price on Nov 13 in the domestic market continued to rise sharply, reaching the peak since the beginning of the year.

Specifically, purchase price in Di Linh district (Lam Dong) was at VND 33,600 / kg.  Bao Loc district (Lam Dong) and Lam Ha (Lam Dong) shared the same price of VND 33,700 / kg.

In Cu M'gar district (Dak Lak), coffee price today remained stable at VND 34,100/kg. In Ea H'leo (Dak Lak) and Buon Ho (Dak Lak) districts, coffee price remained at 34,200 VND / kg. In Gia Nghia and Dak R'lap province of Dak Nong province, coffee was purchased at VND 34,100 / kg.

In Gia Lai province, the price of Chu Prong coffee was 34,000 VND / kg, in Pleiku and La Grai shared the same price at 34,000 VND / kg. The price in Kon Tum today increased to VND 33,800 / kg.

Thus, domestic coffee price on Nov 13 was ranged from VND 33,600 -  VND 34,200 / kg.