Coffee price on 06/14/2023: Domestic price increased by VND 200/kg

World coffee price on June 14

Coffee prices on June 14 in the world market fluctuated oppositely in two major exchanges.

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in July 2023 increased slightly by $7/ton (equivalent to 0.26%); to $2,713/ton.

And the price of coffee delivered in September 2023 on this exchange increased by $8/ton (equivalent to 0.3%), at $2,689/ton.

And the price of Arabica coffee on the New York exchange for delivery in July 2023 decreased by 2.8 cents/lb (equivalent to 1.51%), to 182.75 cents/lb.

For the delivery term in September 2023, the price of coffee on this exchange decreased by 2.8 cents/lb (equivalent to 1.54%); to 178.70 cents/lb.

World coffee prices today continued to decrease by more than 1.5% on the New York Exchange but turned up slightly on the London Exchange.

Before that, the pressure to expire July options contracts on both exchanges spurred funds. Speculators continue to liquidate their net positions because of the overbought, causing the price of coffee futures to drop for several consecutive sessions. 

Currently, the dollar slipped after US inflation data has supported the recovery of Robusta coffee, but caused Arabica coffee prices to continue to plunge.

In addition, New York Exchange standard inventory dropped to the lowest level in more than 6.5 months, down to 550,354 bags, as of June 12. This information contributed to restraining the decline in the price of Arabica coffee.

Thus, the price of coffee on 06/14/2023 in the world market increased and decreased in contrast to yesterday.

Domestic coffee price on June 14

Coffee price on June 14 in the domestic market turned to increase slightly by VND 200/kg compared to yesterday.

Specifically, the price of Lam Dong coffee (in 3 districts of Di Linh, Bao Loc and Lam Ha) is buying at VND 64,200/kg today.

In Cu M'gar district (Dak Lak), the price of coffee today is kept at VND 64,800/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 64,700/kg. 

Coffee prices in Gia Nghia and Dak R'lap in Dak Nong province today were purchased at VND 64,900 and VND 64,800/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 64,400/kg; while Pleiku and La Grai are holding the same level of VND 64,500/kg.

The domestic coffee price today increased slightly again and is approaching the threshold of VND 65,000/kg.

As noted, the beginning of the rainy season is a favourable time for Dak Lak to sow coffee. This year, the market appeared to be in short supply of seedlings, and the price increased higher than in previous years.

Business owners said that in recent years, there has never been a time when coffee trees have "burned out" like this year. Also because of the scarcity, the price of coffee seedlings also increased a lot. 

The scarcity of goods and the increase in the price of coffee seeds make it difficult for farmers due to the high production costs. For households planting new, or replanting large areas, costs will increase because seedlings and other materials have increased prices. The unpredictable price of coffee will be in the coming years will pose risks.

Thus, the price of coffee on 06/14/2023 in the domestic market traded around the threshold of VND 64,200 - 64,900/kg.

$1 = VND 23,300.00 - Source: Vietcombank