Coffee price on 06/23/2023: Slight increase of VND 300/kg

World coffee price on June 23

Coffee prices on June 23 in the world market increased and decreased 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 by USD 33/ton (equivalent to 1.20%); up to USD 2,792/ton.

And the price of coffee delivered in September 2023 on this exchange increased by USD 23/ton (equivalent to 0.84%), at USD 2,749/ton.

The price of Arabica coffee on the New York exchange for delivery in July 2023 decreased by 2 cents/lb (equivalent to 1.16%); down to 170.25 cents/lb.

For the delivery term in September 2023, the price of coffee on this exchange decreased by 2.15 cents/lb (equivalent to 1.26%); to 169.05 cents/lb.

World coffee prices today continued to decline on the New York exchange. This is due to the pressure of selling the new crop that is currently being harvested from Brazil - the world's largest coffee producer and exporter.

Cooxupé cooperative in Brazil reported that its members have harvested about 21.74% of the new crop of coffee. Overall harvest progress is still higher than in previous years thanks to favourable weather, although it is still not equal to the 2019 crop harvest record. 

According to Conab forecast, total Brazilian coffee production this year is about 54.92 million bags, 7.5% higher than the crop of 2022 with about 50.92 million bags. The above information put downward pressure on Arabica coffee prices.

Meanwhile, the price of Robusta coffee on the London exchange increased again after 2 days of decline due to speculation and liquidation. Information on coffee exports in the first half of June decreased, supporting the gaining momentum for this item.

Thus, the price of coffee on 06/23/2023 in the world market fluctuated oppositely compared to yesterday.

Domestic coffee price on June 23

Coffee price on June 23 in the domestic market increased slightly by VND 300/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 at VND 65,800/kg today.

In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 66,300/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 66,200/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 66,500 and VND 66,400/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 66,000/kg; while at Pleiku and La Grai are kept at VND 65,900/kg.

The price of coffee today in Kon Tum is being purchased at VND 66,000/kg.

Domestic coffee prices today turned to increase slightly and firmly above the threshold of VND 66,000/kg.

According to the preliminary report of the General Department of Vietnam Customs, coffee exports in the first half of June reached 68,744 tons (about 1.145 million bags). This brings coffee exports from the beginning of the year to now total 934,863 tons (about 15.58 million bags), but down 1.36% compared to the same period last year.

Thus, the price of coffee on 06/23/2023 in the domestic market traded around the threshold of VND 65,800 - 66,500/kg.

$ 1 = VND 23,320.00 - Source: Vietcombank