Coffee price on 07/14/2023: risk of falling from VND 65,000/kg

World coffee price on July 14

The price of coffee on July 14 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 September 2023 decreased slightly by $9/ton (equivalent to 0.36%); down to $2,525/ton.

And the price of coffee delivered in November 2023 on this exchange was flat, keeping at $2,400/ton.

The price of Arabica coffee on the New York exchange for delivery in September 2023 turned to increase slightly by 0.6 cents/lb (equivalent to 0.38%); to 157.60 cents/lb.

For the November delivery term, the price of coffee on this exchange is also decreasing by 0.6 cents/lb (equivalent to 0.38%); at 157.05 cents/lb.

World coffee prices today fluctuated in opposite directions as they continued to decline slightly on the London exchange but increased on the New York exchange. 

Dry weather in the major coffee-growing regions of southern Brazil has helped the country's farmers to harvest a new Robusta crop, which is in the final stages of the season. 

The world coffee market is expected to soon be added with new products from Brazil to alleviate concerns about supply shortages from the main Robusta coffee-producing countries in Southeast Asia. This expectation pushed coffee on the London exchange continuously plunging since the beginning of the week. 

Inventories report on the London exchange on July 12 decreased by 2,500 tons (4.4%) compared to the previous day, down to 54,360 tons. However, this also cannot stop the current negative price trend.

In addition, there are rumors in the market that FDI coffee enterprises in Vietnam, have just delivered directly to an international coffee trader in Europe 100,000 tons of Robusta coffee (about 1.67 million bags, 60 kg/bag) directly to an international coffee trader in Europe. The above information reduces supply pressure, supporting the market downtrend.

For Arabica coffee, the dollar continued to weaken, helping this coffee item recover slightly amid strong selling pressure from Brazil. Currently, the US Dollar Index (DXY) which measures the volatility of the greenback with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) has dropped to the 99.76 mark - the lowest level in nearly a year.

Thus, the price of coffee on 07/14/2023 in the world market fluctuated slightly compared to yesterday.

Domestic coffee price on July 14

Coffee price on July 14 in the domestic market decreased 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 being purchased at VND 64,600/kg today.

In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 65,100/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is kept at VND 65,000/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 65,300 and VND 65,200/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 64,900/kg; while at Pleiku and La Grai are keeping at VND 64,800/kg.

The price of coffee today in Kon Tum is being purchased at VND 64,900/kg.

The domestic price of coffee today is still falling and there is a risk of falling from VND 65,000/kg. After 4 consecutive days of decline, the domestic coffee market has lost up to VND 1,600/kg. 

Thus, the price of coffee on 07/14/2023 in the domestic market trades around the threshold of VND 64,600 - 65,200/kg.

$1 = VND 23,440.00 - Source: Vietcombank