Coffee price on 07/21/2023: The market fluctuates strongly

World coffee price on July 21

The price of coffee on July 21 in the world fluctuated strongly in 2 major exchanges.

At the time of the survey, the price of Robusta on the London floor for delivery in September 2023 turned down to $68/ton, to $2,536/ton. And the November delivery term on this exchange dropped sharply by $46/ton, at $2,392/ton.

And the price of Arabica on the New York exchange delivered in September 2023 increased sharply to 2.55 cents/lb; to 158.05 cents/lb. And December 2023 delivery increased by 2.45 cents/lb; at 158.30 cents/lb.

World coffee prices today continued to increase and decrease in opposite directions. This time, the 2 exchanges reversed with strong volatility.

Specifically, Robusta coffee on the London exchange has turned down to 2.61% in the September term and down 1.98% in the November term, of 2023. Meanwhile, Arabica coffee on the New York exchange increased strongly again, increasing 1.64% for the September term and 1.57% for December delivery. 

Besides trading back and forth between the two exchanges to make a profit through the price difference, investors are also very interested in the value of strong currencies and basic supply and demand factors to adjust speculative capital flows more effectively. Therefore, the erratic fluctuations of coffee in the past time are not out of that concern. 

The unexpected drop in US jobless claims also raised concerns about the resilience of the labor market. Consequently, it creates conditions for the Fed to continue implementing monetary tightening.

The reais fell 0.33%, bringing the exchange rate down to $ 1 = R$ 4.8020, thereby supporting the price of Brazil's strong export agricultural products to regain more or less value during the day. 

Thus, the price of coffee on 07/21/2023 in the world market is still increasing and decreasing compared to yesterday.

Domestic coffee price on July 21

Coffee price on July 21 in the country decreased by VND 1,200/kg compared to yesterday. 

Specifically, in 3 districts of Di Linh, Bao Loc and Lam Ha of Lam Dong province, they are trading at the same level of VND 65,300/kg.

In Cu M'gar district (Dak Lak), the price of coffee today is kept at VND 65,500/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is kept at 65,400 VND/kg.

In Dak Nong province, traders Gia Nghia and Dak R'lap are purchasing at VND 65,700 and VND 65,600/kg, respectively.

In Gia Lai, Chu Prong district is trading at VND 65,300/kg, while Pleiku and La Grai are holding at VND 65,200/kg.

The purchase price at Kon Tum today is VND 65,300/kg.

The domestic coffee price today reversed and dropped sharply after yesterday's hot rise. Currently, the domestic market has returned to the price threshold of VND 65,000/kg. 

Preliminary statistics show that Vietnam's coffee exports in the first half of July 2023 only reached 31,607 tons (about 526,783 bags). This brings coffee exports in the first 6.5 months of the year to a total of 1,037,866 tons, down 3.64% over the same period last year.

Thus, the price of coffee today July 21, 2023, in the domestic market traded around the threshold of VND 65,300 - 65,700/kg.

$1 = VND 23,450.00 - Source: Vietcombank