Coffee price on 06/06/2023: Simultaneously increased sharply

World coffee price on June 6

Coffee prices on June 6 in the world market simultaneously increased 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 $32/ton (equivalent to 1.24%); up to $2,607/ton.

And the price of coffee delivered in September 2023 on this exchange is also increasing by $32 (equivalent to 1.26%); at $2,574/ton.

The price of Arabica coffee on the New York exchange delivered in July 2023 increased by 2.8 cents/lb (equivalent to 1.55%); to 183.10 cents/lb.

For the September delivery term, the price of coffee on this exchange increased by 2.5 cents/lb (equivalent to 1.41%), at 180.20 cents/lb.

World coffee prices today simultaneously increased sharply by over 1.2% due to the weakening of the dollar.

The dollar fell on news that the U.S. services sector barely grew in May, as new orders slowed, ending an initial rally on the back of strong job growth.

In addition, the weather in some localities of Brazil is not favourable, making coffee slow to market, and affecting supply.

In May 2023, world coffee prices fluctuated sharply due to the low supply of Robusta coffee in leading producing countries.

Thus, the price of coffee on 06/06/2023 in the world market increased sharply compared to yesterday.

Domestic coffee price on June 6

Coffee price on June 6 in the domestic market increased by VND 500/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 61,200/kg.

In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 61,700/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 61,600/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 61,800 and VND 61,700/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 61,500 VND/kg; while at Pleiku and La Grai are holding at VND 61,400/kg.

The price of coffee today in Kon Tum is being purchased at VND 61,500/kg.

The domestic price of coffee today continues to increase and is approaching the threshold of VND 62,000/kg.

In the context of weak supply pushing prices up, Vietnamese coffee quickly had the opportunity to develop. According to data from MARD, coffee exports in May are estimated at 165,000 tons with a value of $396 million.

Consequently, it bring the total volume and value of coffee exports in the first 5 months of 2023 to 882,000 tons and $ 2.02 billion, down 2.2% in volume but up 0.2% in value over the same period last year.

Thus, the price of coffee on 06/06/2023 in the domestic market traded around the threshold of VND 61,200 - 61,800/kg.

$1 = VND 23,290.00 - Source: Vietcombank