In the domestic coffee market, coffee prices today increased by 1,200 - 1,400 VND/kg. Currently, the highest transaction level in the surveyed localities is 66,000 VND/kg, recorded in Dak Nong.

According to the survey, coffee prices today in the Tay Nguyen increased by 400 VND/kg, fluctuating between 65,300 - 66,000 VND/kg. Specifically, today's coffee price in Lam Dong increased to 65,300 VND/kg - the lowest among the surveyed localities. Coffee prices in Gia Lai and Dak Lak increased to 65,700 VND/kg and 65,900 VND/kg, respectively. Today's coffee price in Dak Nong increased to 66,000 VND/kg - the highest among the surveyed localities.

In the world coffee market, Robusta coffee prices on the London floor increased for the 5th consecutive session this week, increasing from 25-30 USD/ton, ranging from 2,630 - 2,827 USD/ton. Specifically, the delivery term in January 2024 is 2,825 USD/ton (an increase of 23 USD/ton); Delivery term in March 2024 is 2,797 USD/ton (up 28 USD/ton); Delivery term in May 2024 is 2,741 USD/ton and delivery term in July 2024 is 2,691 USD/ton.

Similarly, Arabica coffee prices on the New York floor tend to be stable and increase in all terms. Specifically, the delivery term in March 2024 is 190.60 cents/lb (up 1.95%); May 2024 delivery period is 187.25 cents/lb (up 1.95%); July 2024 delivery period is 185.25 cents/lb (up 1.85%) and September 2024 delivery period is 187.80 cents/lb (up 1.75%).

Coffee futures prices reversed and recovered due to concerns about a decline in global coffee production in the new crop year after reports of rainy weather last week in the main Arabica coffee growing regions in southern Brazil were lower than average. historical average. According to information from ICO, global coffee production in the 2023/2024 crop year is expected to increase by 5.8% compared to the previous crop, up to 178 million bags. Of which, Arabica coffee is expected to increase by 8.7% to 102.2 million bags and Robusta coffee is expected to increase by 2.2% to 75.8 million bags. It is expected that global coffee consumption will also increase by 2.2% to 177 million bags.

Vinapro Team