Coffee price today 05/11/2023: over the mark of VND 54,000/kg

World coffee price today May 11

Coffee prices today 05/11/2023 in the world market fluctuated slightly in two major exchanges. 

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in July 2023 increased by $16/ton (equivalent to 0.65%); to $2,481/ton. 

And the price of coffee delivered in September 2023 on this exchange increased slightly by $17/ton (equivalent to 0.7%); at $2,460/ton. 

The price of Arabica coffee on the New York Stock Exchange for delivery in July 2023 decreased slightly by 0.55 cents/lb (equivalent to 0.29%); to 185.95 cents/lb.

For the September delivery term, the price of coffee on the exchange decreased by 0.50 cents/lb (equivalent to 0.27%), to 183.70 cents/lb.

World coffee price today is increasing slightly on the London exchange but turned down on the New York exchange. 

Robusta coffee prices recover amid a decline in Vietnam's preliminary export data for April. In addition, there is concern that heavy rains in Indonesia will affect the country's crop yield.

In addition, global demand for Robusta coffee has increased, as roasters and consumers seek cheaper coffee options to cope with high inflation.

Meanwhile, Arabica coffee prices decrease slightly in the context that the US has just released the consumer price index in April, showing that inflation has cooled down compared to the previous month. This makes investors wonder about the prospect of US monetary policy.

However, the inventory of Arabica coffee on the New York exchange is decreasing and will promote this coffee commodity to increase in price in the future. Accordingly, Arabica coffee stocks have steadily decreased over the past 3 months, to a 5-month low of 655,156 bags on May 8. 

Thus, the price of coffee today 05/11/2023 in the world market fluctuated oppositely compared to yesterday.

Domestic coffee price today May 11

Coffee price today 05/11 in the domestic market increased by VND 600/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 53,800/kg today.

In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 54,400/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is at VND5 4,300/kg. 

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today are at VND 54,400 and VND 54,300/kg, respectively. 

In Gia Lai, the price of coffee in Chu Prong today is at VND 54,300/kg; while at Pleiku and La Grai are holding at VND 54,200/kg. 

The price of coffee today in Kon Tum is VND 54,300/kg.

The price of coffee in the country today turned to increase again and has surpassed the mark of VND 54,000/kg.

According to preliminary statistics of the General Department of Vietnam Customs, coffee exports in April 2023 reached 163,607 tons (about 2,736 million bags), down 22.23% compared to the previous month.

And coffee exports in the first four months of 2023 totaled 716,580 tons (estimated 11.94 million bags), down 5.53% over the same period last year.

However, this is very low compared to the initial estimate of exports for the month of 3.33 million bags.

Thus, the price of coffee today 05/11/2023 in the domestic market traded around the threshold of VND 53,800 - 54,400/kg.

$1 = VND 23,270.00 - Source: Vietcombank