Coffee price on 05/29/2023: Highest price at VND 61,100/kg

World coffee price on May 29

Coffee price on May 29 in the world market has no new changes in both major exchange. At the time of the survey, the price of Robusta coffee on the London exchange for delivery in July 2023 was pegged at $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 Exchange delivered in July 2023 remained at 181.60 cents/lb. For the delivery term in September 2023, the price of coffee on this exchange is 179.55 cents/lb.

World coffee prices today remained stable. Last week, the global coffee market dropped simultaneously.

In particular, the price of Arabica coffee on the New York 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.

According to experts, the price of Robusta coffee this week is forecasted to decrease when the number of overbought contracts is still very large. This week, the London exchange may fluctuate strongly from session to session, but in general, the price will still decrease slightly at the end of the week.

The price difference between the two exchanges is getting smaller and smaller when Robusta coffee increases and Arabica coffee decreases. This is detrimental to coffee on the London exchange. And Robusta coffee is losing its advantage over Arabica coffee.

Therefore, the market tends to favor coffee on the New York exchange in the near future when the price is more attractive. 

Thus, the price of coffee on 05/29/2023 in the world market is sideways compared to yesterday.

Domestic coffee price on May 29

Coffee price on May 29 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 still above VND 61,000/kg. Last week, the domestic coffee market continued to increase sharply by VND 1,300 - 1,400/kg.

The Vietnam Coffee Cocoa Association (Vicofa) forecasts that coffee output may decrease by 10-15 %/year. However, this year may decrease by more than 20% compared to the original prediction due to increasingly severe climate change. The El Nino phenomenon has had a great impact on coffee productivity and output.

Thus, the price of coffee on 05/29/2023 in the domestic market traded around the threshold of VND 60,500 - 61,100/kg.

$1 = VND 23,280.00 - Source: Vietcombank