Coffee price on 05/28/2023: Sharp increase this week

World coffee price on May 28

Coffee prices on May 28 in the world market remained stable at both major exchanges.

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in July 2023 was $2,574/ton. And the price of coffee delivered in September 2023 on this exchange is $2528/ton.

The price of Arabica coffee on the New York Stock Exchange delivered in July 2023 remained at 181.60 cents/lb. For the September delivery term, the price of coffee on this exchange is also anchored at 179.55 cents/lb.

World coffee prices today have no new fluctuations. This week, the global coffee market fell simultaneously.

In particular, the price of Arabica coffee on the New York Stock Exchange is down 10.6 cents/lb in the July term. The price of Robusta coffee on the London exchange for July delivery is down $14/ounce.

In the last session of the week, the market was mixed when the price increased slightly on the London exchange but fell on the New York exchange, amid heightened risk aversion. Wall Street investors speculated that the Fed would be assertive again at the upcoming monetary policy meeting.

Thus, the price of coffee on 05/28/2023 in the world market is sideways compared to yesterday.

Domestic coffee price on May 28

Coffee price on May 28 in the domestic market has no new changes compared to yesterday.

Specifically, the price of Lam Dong coffee (in 3 districts of Di Linh, Bao Loc, and Lam Ha) is being purchased at VND 60,500/kg today.

In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 61,100/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is kept at VND 61,000/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 61,100 and VND 61,000/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 60,800/kg; while at Pleiku and La Grai are holding at VND 60,700/kg.

The price of coffee today in Kon Tum is being purchased at VND 60,800/kg.

The domestic coffee price today is maintaining stable at VND 61,000/kg. This week, the domestic coffee market is increasing strongly, although the price on the London exchange decreased slightly. 

Accordingly, the domestic coffee price has increased by VND 1,300 - 1,400/kg, becoming the second consecutive week of strong increase (last week, the domestic coffee price increased sharply by VND 4,400/kg).

Thus, the price of coffee on 05/28/2023 in the domestic market trades around the threshold of VND 60,500 - 61,100/kg.

$1 = VND 23,290.00 - Source: Vietcombank