Coffee price on Nov 10: forecasted to increase due to lack of supply

World coffee price

On Nov 10, in the world market, coffee price continued to slightly decrease compared to yesterday.

By the end of last week trading session (Vietnamese time), Robusta coffee’s delivery price for November at London Stock Exchange fell by US$ 3 per ton (0.23%) to US$ 1,327/ton, the price for March (in 2021) decreased by US$ 2 per ton to US$ 1,361 per ton.

At New York Stock Exchange, Arabica coffee for December delivery fell by 0.1 cent/lb (0.09%) to 106.85 cent/lb, while the price for March (in 2021) went up 0.1 cent/lb (0.09%) to 109.55 cent/lb.

Agency of Foreign Trade (Ministry of Trade and Industry) recently forecasted that, in short term, Robusta coffee will increase due to the unfavorable weather conditions in Vietnam and the resume of social distancing in many countries in response to Covid – 19 outbreak.

Overall, coffee price on Nov 10 in the world market continued to increase slightly, however world’s coffee export decreased by 4.9%.

Domestic coffee price

In the domestic market, coffee price on Nov 10 slightly fluctuated in some localities, maintaining around the level of VND 33 million per ton. Domestic coffee price is forecasted to increase in the coming time.

Particularly, purchase price in Di Linh district (Lam Dong province) was VND 32,700 per kilogram, while that in Bao Loc and Lam Ha districts (Lam Dong province) was at VND 32,800 per kilogram.

The price in Cu M’gar district (Dak Lak province) remained stable at VND 33,200 per kilogram. While that in Ea H’leo and Buon Ho districts (Dak Lak province) remained at VND 33,300 per kilogram.

Purchase price of VND 33,200 per kilogram was offered for Gia Nghia and Dak R’lap district (Dak Nong province).

The coffee price at Chu Prong district (Chu Prong province) was VND 33,100 per kilogram, Pleiku and La Grai shared the same price of VND 33,000 per kilogram. Meanwhile, the price in Kon Tum rose to VND 32,900 per kilogram.

Domestic coffee price in the coming time is forecasted to experience an upward trend due to the supply decrease resulting from the complicated weather conditions in the central region and highlands.

Besides, complicated development of Covid – 19 pandemic in the world and social distancing orders in many countries that boost at – home coffee demand will be the supporting factor for Vietnamese coffee price in short term.

Overall, coffee price on Nov 10 in domestic market ranged from VND 32,700 per kilogram to VND 33,3300 per kilogram.