Coffee prices on 04/06/2024: Arabica continues to decline

Coffee prices on April 6 around the world

In the world, the London and New York exchange prices on April 6 continued to fluctuate in opposite directions.

In particular, the price of Robusta on the London exchange for delivery in May 2024 decreased by $ 22; about $ 3,744/ton. And the July 2024 delivery term decreased slightly by $ 19; at $ 3,679/ton.

On the New York floor, the price of Arabica delivered in May 2024 increased sharply by 5.75 cents; to 212.50 cents/lb. And the July 2024 delivery term increased by 5.2 cents; reaching 211 cents/lb.

World coffee prices today continued to decline on the London exchange, losing another 0.5% but still increasing strongly (more than 2.5%) on the New York exchange.

According to statistics from Eurostat, in 2023, the EU imports 4.05 million tons of coffee (HS code 0901); worth EUR 19.17 billion (equivalent to $ 20.79 billion); thereby, there has been a decrease of 9% in volume and 10.2% in value compared to 2022. 

The reason why the EU reduces imports of this agricultural product is that in 2023, the economy's recession and inflation remained high, causing people to tighten spending. However, when the economy recovers, European consumption demand increases again. 

Thus, world coffee prices on 04/06/2024 increased and decreased inconsistently compared to yesterday.

Coffee prices on April 6 in the country

Domestically, the coffee market price on April 6 decreased by VND 300/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 101,400/kg.

In Dak Lak, Cu M'gar district today is purchasing at VND 101,700/kg. Meanwhile, Ea H'leo and Buon Ho districts are trading at VND 101,600/kg. 

In Dak Nong province, traders in Gia Nghia and Dak R'lap are trading at VND 101,900 and VND 101,800/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 101,700/kg, while Pleiku and La Grai are maintaining the same price at VND 101,600/kg.

The purchasing price in Kon Tum today is VND 101,700/kg.

Domestic coffee prices today continue to decline but still maintain a high threshold, above VND 101,000/kg.

According to preliminary statistics of the General Department of Customs, in the first 2 months of 2024, Vietnam exported 359.16 thousand tons of Robusta; worth $ 1.05 billion. Compared to the same period in 2023, it increased 14.9% in volume and 76.7% in value.

Vietnam's main export markets include: Germany, Italy, Spain, the USA, Russia... Notably, our country's Robusta exports to many potential markets recorded growth rates of up to 3 digits, such as: Indonesia, the Netherlands, China, Philippines,...

Meanwhile, Arabica exports in the first 2 months of 2024 decreased by 16.7% in volume and 17.2% in value compared to the same period in 2023 when reaching 10.17 thousand tons, worth $ 38.87 million. In particular, the markets reducing Arabica exports include the US, Germany, Italy, Belgium, and the Netherlands... but exports increased sharply in Japan, Indonesia, Russia, Malaysia, ...

Thus, the domestic coffee price on 04/06/2024 is trading around the threshold of VND 101,400 - 101,900/kg.