Coffee price on 05/13/2023: similarly strong increase

World coffee price on May 13

Coffee prices on May 13 in the world market increased and decreased in contrast at both major exchanges.

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in July 2023 turned to increase sharply by $39/ton (equivalent to 1.63%); to $2,432/ton.

The price of Arabica coffee on the New York Stock Exchange for delivery in July 2023 continued to decrease by 0.15 cents/lb (equivalent to 0.08%); to 182.85 cents/lb.

For the September delivery term, the price of coffee on the exchange decreased slightly by 0.2 cents/lb (equivalent to 0.11%), at 180.65 cents/lb.

World coffee prices today fluctuated in opposite directions when a strong increase in the London exchange caused a slight decrease in the New York exchange.

According to experts, the price of Robusta coffee on the London exchange was out of the overbought zone after a deep drop yesterday. And speculators still consider this coffee as a place to invest capital.

In the short term, Robusta coffee is forecasted to struggle and accumulate within the range of $2,385 - 2,445/ton.

Robusta coffee price needs to surpass $2,405/ton to regain momentum, from there to $2,445/ton and conquer the next hurdles. On the contrary, if it breaks through the level of $2,385/ton, this commodity is at risk of falling in price. 

Meanwhile, the price of Arabica coffee decreased slightly today in the context of the USD rising, pulling gold down; and forcing speculators to transfer capital to the London exchange.

In addition, the standard inventory on the New York Stock Exchange is also falling to the lowest level in the past 5 months (with 649,830 bags). The above information has contributed to slowing down the price of Arabica coffee. 

Experts also believe that in the short term, Arabica coffee will struggle in the price range of 180-185.5 cents/lb. To gain momentum again, this commodity needs to overcome the 185.5 cent/lb resistance. If it loses the 182.5 cents/lb mark, the price of this New York Exchange coffee will fall further.

Thus, the price of coffee on 05/13/2023 in the world market decreased sharply compared to yesterday.

Coffee price in the country today May 13

Coffee price today May 13 in the domestic market increased sharply by VND 1,100 /kg compared to yesterday. 

Specifically, the price of Lam Dong coffee (in 3 districts of Di Linh, Bao Loc, and Lam Ha) is being purchased today at VND 53,900/kg. 

In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 54,300/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 54,200/kg. 

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 54,400 and 54,300/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 54,300/kg; while the price at Pleiku and La Grai are holding at VND 54,200/kg.

The price of coffee today in Kon Tum is VND 54,300/kg.

The domestic coffee price rebounded strongly, increasing by VND 1,200/kg compared to yesterday. As a result, the domestic coffee market has risen above the price mark of VND 54,000/kg.

Thus, the coffee price today 05/13/2023 in the domestic market traded around the threshold of VND 53,900 - 54,400/kg.

$1 = VND 23,270.00 - Source: Vietcombank