Coffee prices on 06/23/2024: Sharp increase domestically

Coffee prices on June 23 globally

Globally, the London and New York exchanges showed no new changes on June 23.

The price of Robusta on the London exchange for July 2024 delivery remains at $ 4,299/ton. The September 2024 delivery is steady at $ 4,104/ton.

Meanwhile, on the New York exchange, the price of Arabica for September 2024 delivery stays at 225 cents/lb. The November 2024 delivery is at 223.25 cents/lb.

World coffee prices are stable today. Summarizing this week, Robusta prices for September delivery increased significantly by $ 95, while Arabica prices for September delivery decreased by 0.6 cents.

In the last session of the week, both the London and New York exchanges fell due to speculative liquidation ahead of the USDA crop report.

Experts believe the decline is temporary. The general trend supports the upward movement of this commodity due to high transport costs and concerns about dry weather in Brazil, which may affect the ongoing harvest.

Thus, world coffee prices on 06/23/2024 are flat compared to yesterday.

Coffee prices on June 23 domestically

In the domestic market, coffee prices on June 23, remain stable compared to yesterday.

Specifically, in Lam Dong province, Di Linh, Bao Loc, and Lam Ha districts are trading at VND 120,500/kg.

In Dak Lak, Cu M'gar district is purchasing at VND 121,500/kg today. Ea H'leo and Buon Ho districts are trading at VND 121,400/kg.

In Dak Nong province, traders in Gia Nghia and Dak R’lap are trading at VND 121,700/kg and VND 121,600/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 121,500/kg, while Pleiku and La Grai are both maintaining a price of VND 121,400/kg.

In Kon Tum province, the purchase price today is VND 121,500/kg.

Domestic coffee prices today remain flat, with the highest price reaching VND 121,700/kg. This week, the domestic coffee market increased significantly by VND 1,200 - 1,500/kg.

In just the first two quarters of 2024, Vietnam's coffee exports exceeded

$ 3 billion, a 38% increase compared to the same period last year, with Germany being the largest importer.

The export volume decreased by more than 8%, but the value increased by 38% compared to the same period last year. This is also a record high compared to the same period in previous years.

According to the Ministry of Agriculture and Rural Development (MARD), the current stock of coffee in the country is very low. It is forecasted that the production of this agricultural commodity in the upcoming season will continue to decrease by about 20% due to prolonged heat and severe drought in the Central Highlands region.

Thus, domestic coffee prices on 06/23/2024 are trading around VND 120,500 - 121,700/kg.

$ 1 = VND 25.218 - Source: Vietcombank