Coffee price on 05/19/2023: Close to the mark of VND 58,000/kg

World coffee price on May 19

Coffee prices on May 19 in the world market continued to increase and decrease in two major exchanges.

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in July 2023 decreased by $42/ton (equivalent to 1.63%); to $2,540/ton.

And the price of coffee delivered in September 2023 on this exchange decreased by $36/ton (equivalent to 1.42%); at $2,498/ton.

The price of Arabica coffee on the New York Stock Exchange for delivery in July 2023 is slightly increasing by 0.6 cents/lb (equivalent to 0.32%); to 186.65 cents/lb.

For the September delivery term, the price of coffee on this exchange increased by 0.5 cents/lb (equivalent to 0.27%), at 184.25 cents/lb.

World coffee prices today continued to fluctuate in the opposite direction of yesterday. The price fell on the London Exchange and increased slightly on the New York Exchange.

After 4 shockingly increasing sessions, Robusta coffee price tends to cool down, in the context of Vietnam's coffee exports reporting a decrease. In addition, Indonesia - the world's third-largest producer of Robusta coffee is likely to produce just under 10 million bags this year for the first time in 10 years.

Thus, the price of coffee on 05/19/2023 in the world market increased and decreased oppositely compared to yesterday. 

Domestic coffee price on May 19

Coffee price on May 19 in the domestic market increased by VND 400/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 57,500/kg.

In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 57,800/kg. In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 57,800/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 57,900 and VND 57,800/kg respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 57,800/kg; while at Pleiku and La Grai are holding at VND 57,700/kg. 

The price of coffee today in Kon Tum is being purchased at VND 57,800/kg.

Coffee prices in the country continued to increase today. As a result, the domestic coffee market is very close to the price mark of VND 58,000/kg.

The fact that domestic coffee prices are constantly anchored at high levels is bringing joy to farmers. In 2022, low output from Brazil helped the country's coffee exports reach a record $4 billion, 30% higher than in 2021. In which, more than 93% of the coffee produced by Vietnam is Robusta coffee. 

Our country is still providing more than half of the global supply of Robusta coffee and plays an increasingly important role in efforts to rescue coffee from the effects of climate change. 

Thus, the price of coffee on 05/19/2023 in the domestic market traded around the threshold of VND 57,500 - 57,900/kg.

$1 = VND 23,290.00 - Source: Vietcombank