Coffee price on 05/16/2023: Surpassing the mark of VND 56,000/kg

World coffee price on May 16

Coffee prices on May 16 in the world market increased sharply at both major exchanges.

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in July 2023 increased by $56/ton (equivalent to 2.3%); to $2,488/ton.

And the price of coffee delivered in September 2023 on this exchange increased by $55/ton (equivalent to 2.28%); at $2,464/ton.

And the price of Arabica coffee on the New York Stock Exchange delivered in July 2023 increased sharply by 6.55 cents/lb (equivalent to 3.58%); to 189.40 cents/lb.

For the September delivery term, the price of coffee on this exchange increased by 6.10 cents/lb (equivalent to 3.38%), at 186.75 cents/lb.

World coffee prices today increased sharply, increasing by over 2.2% on the London exchange and increasing by over 3.3% on the New York exchange.

The fear of short-term supply shortage continues to support the uptrend of coffee prices. In addition, the dollar fell as investors waited for information on the settlement of the ceiling public debt, making this commodity even stronger.

Thus, the price of coffee on 05/16/2023 in the world market increased sharply compared to yesterday.

Domestic coffee price on May 16

Coffee price on May 16 in the domestic market increased sharply by VND 1,000/kg compared to yesterday.

Specifically, the price of Lam Dong coffee (in 3 districts of Di Linh, Bao Loc, and Lam Ha) is currently being purchased at VND 55,900/kg.

In Cu M'gar district (Dak Lak), the price of coffee today is VND 56,300/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 56,200/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 56,300 and VND 56,200/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 56,200/kg; while at Pleiku and La Grai are holding at VND 56,100/kg.

The price of coffee today in Kon Tum is being purchased at VND 56,200/kg.

The domestic coffee price today increased sharply and easily surpassed the mark of VND 56,000/kg.

Thus, the price of coffee on 05/16/2023 in the domestic market is traded around the threshold of VND 55,900 - 56,300/kg.

$1 = VND 23,250.00 - Source: Vietcombank