Coffee price on 07/1/2023: The market continues to fall sharply

World coffee price on July 1

Coffee prices on July 1 in the world market continued to decline sharply at both major exchanges.

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in July 2023 decreased by $ 79/ton (equivalent to 3.07%); down to $ 2,491/ton.

And the price of coffee delivered in September 2023 on this exchange decreased by $ 83/ton (equivalent to 3.35%), at $ 2,391/ton.

The price of Arabica coffee on the New York exchange delivered in July 2023 decreased by 2.60 cents/lb (equivalent to 1.61%); to 159.00 cents/lb.

For the September delivery term, the price of coffee on this exchange decreased by 2.15 cents/lb (equivalent to 1.34%); to 158.10 cents/lb.

World coffee prices today continued to decline sharply. Over the past time, the coffee market has continuously dropped in price.

New York Arabica coffee continues to weaken technically to set 5-month lows. Robusta in London continued its slide from a 15-year high on Tuesday. 

The reason, assessed by experts, is that risk aversion has pushed funds and speculators to continue to liquidate their net positions on both futures exchanges. 

Traders fear that the Fed will continue to adjust interest rates, bringing the dollar high, leading to higher interest rates, and making it more difficult for businesses to buy goods. 

Thus, the price of coffee on 07/1/2023 in the world market decreased sharply compared to yesterday.

Domestic coffee price on July 1

Coffee price on July 1 in the domestic market decreased by VND 900/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 64,500/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 64,400/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 64,700 and 64,600/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 64,400/kg; while prices at Pleiku and La Grai are holding at VND 64,300/kg.

The price of coffee today in Kon Tum is being purchased at VND 64,400/kg.

The domestic coffee price today continued its strong decline, becoming the third consecutive day of decline this week. Currently, the domestic coffee market has fallen below the price threshold of VND 65,000/kg.

According to the General Statistics Office of Vietnam, coffee exports in June 2023 were estimated at 150,000 tons, up 0.1% compared to the previous month. This brings coffee exports in the first 6 months to an estimated 1,016 million tons (about 16.9 million bags, 60 kg/bags), down 2.2% over the same period last year.

Thus, the price of coffee on 07/1/2023 in the domestic market traded around the threshold of VND 64,200 - 64,700/kg.

$ 1 = VND 23,380.00 - Source: Vietcombank