(HSV VIETNAM GROUP) – Domestic coffee prices today are trading around 100,800 - 101,900 VND/kg. The lowest price is in Lam Dong and the highest in Dak Lak, the remaining provinces are around 101,000 VND/kg. On the floor, coffee prices on the world market fluctuated in opposite directions.
According to the latest records, coffee prices on the world market fluctuate in opposite directions.
Specifically, the online price of Robusta coffee in London delivered in July 2024 was recorded at 3,420 USD/ton after an increase of 0.53%. The remaining terms also increased.
The price of Arabica coffee delivered in July 2024 in New York was at 197.90 UScents/pound after a decrease of 0.75%.
Domestically, today coffee prices simultaneously increased in key localities. Specifically, traders in Dak Lak province are purchasing coffee at the highest price of 101,900 VND/kg, an increase of 400 VND/kg. With the above increase, Lam Dong province adjusted the transaction to 100,800 VND/kg, the current lowest. Coffee in Gia Lai is being purchased at a price of 101,400 VND/kg, an increase of 400 VND/kg. Coffee transaction price in Dak Nong was recorded at 101,600 VND/kg, an increase of 200 VND/kg.
The world coffee market had a mixed trading session, with Robusta prices increasing and Arabica prices decreasing, but both markets are still locked in a narrow frame and have not really shown signs of moving in any direction during the past several consecutive sessions.
The Central Highlands provinces, Vietnam's main coffee growing region, had a total of 195.6 mm of rain in the 10 days since May 1, which according to statistics is still 41% lower than the historical average.
In addition, meteorological agency Somar Meteorologia also reported that Brazil's Minas Gerais region received no rainfall in the past week, and it has been three weeks without rain in this region.
Coffee prices today in the Central Highlands provinces increased but the amount of real products sold was limited, some businesses stopped buying or did not issue prices.
It is forecasted that by 2024, our coffee exports can reach 5 billion USD thanks to many supporting factors, including a breakthrough in prices. Along with rising world demand, some green coffee products are used for roasting and grinding to dissolve in water, so domestic demand also increases.
Vietnam is currently the world's leading producer and supplier of Robusta coffee. However, opportunities always come with challenges, requiring businesses and cooperatives to build export strategies to make the most of existing advantages.
Arabica coffee inventories are at a 1-year high and Robusta coffee inventories are at a 5-month high, which could put pressure on prices. After the recent price slide, Brazilian brokers said farmers have limited selling.
Ha Diem HSV