Coffee price on 07/6/2023: Decreasing slightly.

World coffee price on July 7

Coffee prices on July 7 in the world market simultaneously decreased slightly at 2 major exchanges.

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in September 2023 decreased by $15/ton (equivalent to 0.59%); down to $2512/ton.

And the price of coffee delivered in November 2023 on this exchange decreased by $17/ton (equivalent to 0.7%), to $2414/ton.

The price of Arabica coffee on the New York exchange for delivery in September 2023 turned down slightly by 1.95 cents/lb (equivalent to 1.21%); to 158.55 cents/lb.

For the November delivery term, the price of coffee on this exchange decreased by 1.85 cents/lb (equivalent to 1.16%); to 157.85 cents/lb.

World coffee prices today fell slightly along with the London exchange the day after the US Independence Day holiday.

Currently, the USD is increasing after the minutes of the Fed's June meeting were released and this has caused Arabica coffee to fall immediately.

Along with that, the favourable harvest information from Brazil reduces the current supply. The falling real exchange rate has supported Brazilians to boost export coffee sales. The above reason continues to push the price of coffee on both exchanges down.

However, the market is still concerned that the strong El Nino weather phenomenon in the last quarter of this year will bring drought to major coffee-producing countries in the world. This can lead to a decrease in crop production due to an increase in average temperature of 0.5 degrees Celsius and increased coffee production costs.

Thus, the price of coffee on 07/6/2023 in the world market decreased slightly compared to yesterday.

Domestic coffee price on July 6

Coffee price on July 6 in the domestic market decreased 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 64,500/kg today.

In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 64,900/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND 64,800/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 65,100 and VND 65,000/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 64,700/kg; while at Pleiku and La Grai are holding at VND 64,600/kg.

The price of coffee today in Kon Tum is being purchased at VND 64,700/kg.

The domestic coffee price today continues to decrease slightly and is in danger of losing the threshold of VND 65,000/kg.

Since the beginning of the week, the domestic coffee market has increased slightly although the London exchange is closed for trading. But when the London trading floor returned, the domestic coffee price continued to decrease slightly.

Thus, the price of coffee on 07/6/2023 in the domestic market traded around the threshold of VND 64,500 - 65,100/kg.

$1 = VND 23,530.00 - Source: Vietcombank