Coffee prices on 05/10/2023: Domestic prices experience a sligh decrease

World coffee prices today May 10

Coffee price today 05/10 in the world market is still increasing and decreasing in two major exchanges. 

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in July 2023 decreased slightly by $6/ton (equivalent to 0.24%); about $2,465/ton.

And the price of coffee delivered in September 2023 on this exchange decreased by $3/ton (equivalent to 0.12%); down to $2,443/ton.

And the price of Arabica coffee on the New York Stock Exchange delivered in July 2023 increased by 2.55 cents/lb (equivalent to 1.39%); to 186.50 cents/lb.

For the September delivery term, the price of coffee on this exchange increased by 2.60 cents/lb (equivalent to 1.43%), to 184.20 cents/lb.

World coffee prices today fell slightly on the London exchange after a break of 3 days in the context of the market being overbought. Meanwhile, the price of Arabica coffee on the New York Stock Exchange increased by over 1%.

As of May 5, the inventory of Robusta coffee on the London exchange has increased by 570 tons, which is an increase of 0.73% compared to a week earlier. The inventory increased to the registered level of 79,260 tons (equivalent to 1,321,000 bags, 60 kg/bags).

Colombia's April coffee production and exports fell compared to the same period, prompting funds and speculation to return to the buying market. Federación Nacional de Cafeteros (FNC) reported exports in April reached only 719,000 bags, down 15% compared to the same period. 

According to observation, the Colombian domestic market showed a trend of compensating at high prices for contracts that have reached maturity. This contributed to the increase in the future price of Arabica coffee on the New York Stock Exchange.

In addition, the weather in the main coffee regions in southern Brazil is dry, this is the basic condition for the formation of winter frosts. The weather condition can accelerate the ripening of coffee cherries and speed up the harvest of the new crop.

Thus, the price of coffee today 05/10/2023 in the world market increased and decreased oppositely compared to yesterday.

Domestic coffee prices today May 10

Coffee prices today 05/10 in the domestic market decreased slightly by VND 100/kg compared to yesterday. 

Specifically, the price of Lam Dong coffee (in 3 districts of Di Linh, Bao Loc, and Lam Ha) is being purchased today at VND 53,100/kg. 

In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 53,800/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 53,700/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 53,700 and 53,600/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 53,700/kg; while at Pleiku and La Grai are holding at VND 53,600/kg. 

The price of coffee today in Kon Tum is purchased at VND 53,700/kg.

The domestic coffee price today decreased slightly after yesterday's sideways session and is still approaching the mark of VND 54,000/kg. 

According to experts, the increasing momentum of Robusta coffee is quite clear. Vietnam's coffee exports in April 2023 were only estimated at 163,607 tons, down 22%. In the first 4 months of 2023, our country exported 716,580 tons of coffee, down 5.5%.

Fear of scarcity has pushed up the price of domestic green coffee in recent times. Therefore, yesterday's drop was just a correction of the London exchange.

Thus, the price of coffee today 05/10/2023 in the domestic market traded around the threshold of VND 53,200 - 53,900/kg.

$1 = VND23,270.00 - Source: Vietcombank