Coffee price on 06/29/2023: The market fell sharply

World coffee price on June 29

The price of coffee on June 29 in the world market simultaneously decreased at two major exchanges.

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in July 2023 fell deeply by $ 99/ton (equivalent to 3.65%); down to $ 2,616/ton.

And the price of coffee delivered in September 2023 on this exchange fell to $ 102/ton (equivalent to 3.89%), at $ 2,521/ton.

The price of Arabica coffee on the New York exchange for delivery in July 2023 fell sharply by 5 cents/lb (equivalent to 2.99%); to 16.95 cents/lb.

For the delivery term in September 2023, the price of coffee on this exchange increased or decreased by 4.60 cents/lb (equivalent to 2.78%); to 160.80 cents/lb.

World coffee prices today turned sharply lower. The drop in the London exchange was mainly due to the fact that this exchange was in an overbought position and strongly liquidated speculation to balance capital. Meanwhile, the strong USD pushed the price of Arabica coffee back.

The New York exchange fell, pulling the price of Robusta coffee back deeply, wiping out the efforts to increase from the beginning of the week. Besides, the reason for the decline in Arabica coffee prices also comes from pressure from this year's new Brazilian harvest, which is taking place with a forecast of a record season. 

However, inventories at the London exchange decreased by 2,490 tons, or 3.27% from a week earlier, to registered at 73,750 tons (equivalent to 1,229,166 bags, 60 kg/bags). This continued to maintain the concern of supply shortage in the short and medium term.

Thus, the price of coffee on 06/29/2023 in the world market decreased sharply compared to yesterday.

The price of domestic coffee on June 29

Coffee price today June 29 in the domestic market decreased by VND 800/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 65,600/kg today.

In Cu M'gar district (Dak Lak), the price of coffee today is kept at VND 65,800/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is kept at VND 65,700/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 66,000 and 65,900/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 65,700/kg; while the price at Pleiku and La Grai are kept at VND 65,600/kg.

The price of coffee today in Kon Tum is being purchased at VND 65,700/kg.

Coffee prices in the country today dropped sharply after 2 consecutive days of increase. With the current downward trend, the domestic coffee market is no longer at the price level of VND 66,000/kg. However, the price is still relatively high.

Thus, the price of coffee on 06/29/2023 in the domestic market traded around the threshold of VND 66,300 - 66,800/kg.

$ 1 = VND 23,360.00 - Source: Vietcombank