Coffee price on 07/11/2023: Back to VND 66,000/kg

World coffee price on July 11

Coffee prices on July 11 in the world market simultaneously decreased at both major exchanges.

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in September 2023 turned down $45/ton (equivalent to 1.72%); down to $2,576/ton.

And the price of coffee delivered in November 2023 on this floor decreased by $39/ton (equivalent to 1.58%), at $2,436 /ton.

The price of Arabica coffee on the New York exchange for September delivery in September 2023 decreased by 1.05 cents/lb (equivalent to 0.65%); to 159.85 cents/lb.

For the November delivery term, the price of coffee on this exchange decreased slightly by 0.75 cents/lb (equivalent to 0.47%); at 159.30 cents/lb.

World coffee prices today are down 1.7% on the London exchange but only down 0.6% on the New York exchange.

The markets simultaneously corrected down due to a strong increase at the end of last week, especially Robusta coffee. Meanwhile, Brazil's favourable harvest situation added to the decline in the New York exchange.

According to Cooxupé - Brazil's largest coffee cooperative, as of the end of June, members harvested 34.6% of the cooperative's output. Thanks to favourable weather, the harvest progress is somewhat faster than in previous years.

According to a report by the International Coffee Organization (ICO), the price of Robusta coffee has increased to the highest level since February 1995. Over the past month, global coffee prices tracked and aggregated by the ICO have dropped 2.4% to an average of 171.3 cents/lb (158.5 – 182 cents/lb). This decline mainly reflects the downward momentum of Arabica coffee, while Robusta coffee continued to increase strongly for the 7^th consecutive month and hit new historical highs.

Notably, stocks of certified coffee on the New York and London exchanges decreased by 8.5% and 9.7%, respectively, in June, to 0.60 and 1.25 million bags (60 kg). This is a "severe" low that pushed global coffee prices up sharply over the weekend. 

In addition, the decrease in Arabica coffee is also due to the additional supply from the ongoing harvest in Brazil. Meanwhile, in the context of the global economic slowdown, the cost of living for consumers has increased, Robusta coffee is benefiting from the trend of shifting demand from high-quality and high-priced Arabica coffee to cheaper coffees.

Thus, the price of coffee on 07/11/2023 in the world market turned down compared to yesterday.

Domestic coffee on July 11

Coffee price on July 11 in the domestic market is down VND 700/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 65,700/kg today.

In Cu M'gar district (Dak Lak), the price of coffee today is kept at VND 66,000/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 65,900/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 66,100 and VND 66,000/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 65,800/kg; while at Pleiku and La Grai are holding at VND 65,700/kg.

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

The price of coffee in the country today turned around and dropped sharply. And this has caused the domestic coffee market to return to the threshold of VND 66,000/kg.

Thus, the price of coffee on 07/11/2023 in the domestic market traded around the threshold of VND 66,300 - 66,800/kg.

$1 = VND 23,490.00 - Source: Vietcombank