Coffee prices on October 17th ranged from 63,400 to 64,000 VND/kg. The exchange rate of the USD has risen, and Brazil's return to the market after an extended holiday has pushed down the Arabica market. However, a significant decrease in stockpiles on the market has helped Robusta maintain its upward momentum compared to the previous weekend.

In the districts of Di Linh, Lam Ha, and Bao Loc in Lam Dong province, coffee prices today were purchased at 63,400 VND/kg. In Cu M'gar district (Dak Lak), coffee prices stood at 63,900 VND/kg. In Ea H'leo and Buon Ho (Dak Lak), coffee prices were purchased at 63,800 VND/kg.

Similarly, in Dak Nong province, coffee was purchased at 64,000 VND/kg in Gia Nghia and 63,900 VND/kg in Dak R'lấp. In Gia Lai province, coffee prices today were at 63,800 VND/kg (Chu Prong), and in Pleiku and La Grai, the price was 63,700 VND/kg.

Coffee prices in the domestic market have increased compared to the same time yesterday. At the close of the first trading session of the week, Robusta coffee prices in London for November 2023 delivery increased by 5 USD/ton to 2,393 USD/ton, and for January 2024 delivery, they rose by 12 USD/ton to 2,296 USD/ton.

On the New York Stock Exchange, coffee prices for Arabica coffee delivery in December 2023 decreased by 0.75 cents/lb to 154.15 cents/lb, and for March 2024 delivery, they decreased by 0.45 cents/lb to 154.7 cents/lb.

Coffee prices showed mixed movements in the first trading session of the week, with Arabica turning down after a strong rally at the end of the previous week. Additionally, the strengthening of the USD and Brazil's return to the market following an extended holiday contributed to the decline in the Arabica market.

However, a significant decrease in stockpiles on the market has helped Robusta maintain its upward trajectory compared to the previous weekend. Robusta coffee stockpiles certified and monitored by the London market had decreased by 2,360 tons as of Friday, October 13th, a 5.62% decrease compared to the previous week, reaching a level of 39,670 tons (approximately 661,167 bags, 60 kg each), the lowest level in two months.

Data from the General Department of Customs indicated that Vietnam's coffee exports in September 2023 reached 65,000 tons, valued at 205 million USD, marking a 23.2% decrease in volume and a 20.8% decrease in value compared to August 2023. Compared to September 2022, coffee exports in September 2023 decreased by 32.7% in volume and 12.8% in value. This has raised concerns about the upcoming harvest supply.

At this moment, Vietnamese farmers have also begun to harvest early ripe coffee for the 2023/2024 season. This could help increase the supply for export activities in the near future. Although prices are currently trending downward, the coffee market outlook for the 2023-2024 season remains relatively positive. Low inventory levels will contribute to supporting coffee prices from experiencing a sharp decline in the last three months of this year.

According to Kinhtedothi.vn