Coffee prices on 03/24/2024: Increasing sharply this week

Coffee prices on March 23 around the world

In the world, the London and New York exchanges on March 23 had no new fluctuations.

In particular, Robusta's price on the London exchange for delivery in May 2024 remained at $ 3,358/ton. And the July 2024 delivery term is anchored at $ 3,264/ton.

On the New York floor, Arabica's price for delivery in May 2024 is holding at 184.85 cents/lb. And the July 2024 delivery date is at 184 cents/lb.

World coffee prices today are stable. To summarize this week, both London and New York exchange prices simultaneously increased sharply.

Accordingly, Robusta futures price for May delivery increased by $ 50/ton. Arabica coffee futures price for May delivery increased by 1.9 cents/lb.

During the weekend session, the increase in the USD caused both exchanges to turn down in price. According to Reuters, low supply while demand is high will cause Robusta prices to multiply in the Vietnamese domestic market, shortly reaching a record high of VND 100,000/kg.

Thus, world coffee prices on 03/24/2024 remain stable compared to yesterday.

Coffee prices on March 23 in the country

The domestic market price on March 23 went sideways 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 94,400/kg.

In Dak Lak, Cu M'gar district today is purchasing at VND 94,800/kg. Ea H'leo and Buon Ho districts are trading at a price of VND 94,700/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are trading at VND 95,000 and VND 94,900/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 94,800/kg, while Pleiku and La Grai are both maintaining the price of VND 94,700/kg.

The purchasing price in Kon Tum today is VND 94,800/kg.

Domestic coffee prices today have no new fluctuations with the highest threshold reaching VND 95,000/kg.

In summary, this week, the domestic market continued to increase strongly by VND 1,600 - 1,800/kg (last week it increased by VND 2,500/kg).

Thus, the domestic coffee price on 03/24/2024 is trading around the threshold of VND 94,400 - 95,000/kg.