Coffee prices on 06/17/2024: reaching VND 120,500/kg

Coffee prices on June 17 globally

Globally, the London and New York exchanges showed no new movements on June 17.

Specifically, Robusta prices on the London exchange for July 2024 delivery remain at $ 4,115/ton. The September 2024 delivery contract is holding at $ 4,009/ton.

On the New York exchange, Arabica prices for July 2024 delivery are steady at 224.15 cents/lb. The September 2024 delivery contract is at 224.40 cents/lb.

World coffee prices today continue to stabilize. Last week, futures prices for Robusta and Arabica for July delivery fell by $ 160/ton and 0.65 cents/lb, respectively.

Thus, global coffee prices on 06/17/2024, remain unchanged compared to yesterday.

Coffee prices on June 17 domestically

Domestically, the coffee market today, June 17, maintains stability compared to yesterday.

Specifically, in Lam Dong province, the districts of Di Linh, Bao Loc, and Lam Ha are trading at VND 119,000/kg.

In Dak Lak province, Cu M'gar district is buying at VND 120,000/kg today. Meanwhile, Ea H'leo and Buon Ho districts are trading at VND 119,900/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are trading at VND 120,200 and VND 120,100/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 120,000/kg, while Pleiku and La Grai districts are holding at VND 120,000/kg.

The purchase price in Kon Tum province today is VND 120,000/kg.

Domestic coffee prices today remained stable with the highest level at VND 120,500/kg. Last week, the price of this agricultural product decreased significantly by VND 3,500/kg.

Data released by the General Department of Customs shows that Vietnam's coffee exports in May reached only 79,358 tons, a sharp decline of 47.8% compared to the previous month and 47% compared to the same period last year. This marks the fourth consecutive month of decline compared to the same period and the sixth month since the beginning of the crop year. Signs indicate that domestic coffee stocks are decreasing.

Cumulatively for the first five months of the year, coffee exports reached 817,154 tons, bringing in revenues of over $ 2.8 billion USD, down 5.8% in volume compared to the same period in 2023 but up 40.9% in value due to higher prices.

Vietnam's top coffee export markets in the first five months of 2024 include the EU with 328,130 tons, down 3% compared to the same period last year and accounting for 40.2% market share; Japan with 56,931 tons, up 16.9%; and the US with 50,033 tons, down 22.4%... Meanwhile, exports to Asian markets such as Indonesia, Philippines, China, Thailand, South Korea, and Malaysia have shown significant increases.

Thus, by the end of the first eight months of the 2023-2024 crop year (from October 2023 to May 2024), Vietnam has exported nearly 1.2 million tons of coffee, equivalent to 80% of the current crop's production and a 7% decrease compared to the same period in the previous crop year.

Thus, domestic coffee prices on 06/17/2024, are trading around VND 119,000 - 120,500/kg.

$ 1 = VND 25.201 - Source: Vietcombank.