Coffee prices on 04/2/ 2024: Arabica price increased sharply

Coffee price on April 2 in the world

In the world, the London and New York exchange prices on April 2 fluctuated in opposite directions.

In particular, Robusta's price on the London exchange for delivery in May 2024 is anchored at $ 3,479/ton. The July 2024 delivery term price remains at $ 3,396/ton.

On the New York floor, the price of Arabica delivered in May 2024 increased sharply by 2.95 cents; to 191.80 cents/lb. The term for delivery in July 2024 increased to 3.05 cents; and reached 191.10 cents/lb.

World coffee prices today are flat on the London exchange because they are still off. Meanwhile, Arabica prices on the New York exchange increased sharply due to concerns that the weather in Brazil could slow down the harvest.

Thus, world coffee prices on 04/02/2024 increased and decreased in opposite directions compared to yesterday.

Coffee prices on April 2 in the country

The domestic market on April 2 had no new fluctuations compared to yesterday.

Specifically, in Lam Dong province, 3 districts of Di Linh, Bao Loc and Lam Ha are trading at the same level of VND 98,100/kg. 

In Dak Lak, Cu M'gar district today is purchasing at VND 98,600/kg. Ea H'leo and Buon Ho districts are trading at a price of VND 98,500/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'lap are trading at VND 98,700 and VND 98,600/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 98,600/kg, while Pleiku and La Grai are both maintaining the price of VND 98,500/kg.

The purchasing price in Kon Tum today is VND 98,500/kg.

Domestic coffee prices today remain stable and are still close to the high threshold of VND 99,000/kg.

In the first quarter of 2024, Vietnam is expected to export nearly 600,000 tons of coffee with a turnover of about $ 1.9 billion, an increase of 3.1% in volume and 54.7% in export turnover compared to the same period in 2023.

Of which, the export of green coffee is the main source, about 91% of output and about 85% of value. Although the export of instant coffee and deeply processed products has increased, it is still at a low rate (turnover accounts for 15% of the country's total export turnover of agricultural products).

Vicofa Association forecasts that our country's 2023/2024 export crop will decrease by 20% compared to the previous crop year, down to 1,336 million tons due to dry weather reducing productivity and coffee output.

According to expert assessments, although the price of this agricultural product has increased, very few farmers benefit, while processing enterprises are facing difficulties. The reason is that usually wherever the production goes, the enterprise will buy raw materials there, farmers also have very little storage, and most of it is sold after the crop to pay for agricultural supplies.

By the beginning of this year, the price of this agricultural product had increased by VND 60,000/kg, so farmers were excited to sell most of it because at this time neither growers nor domestic businesses have price forecast information.

Meanwhile, many large French and Indian enterprises in Vietnam have market forecast information, so they have collected a large amount in Vietnam and now they can control prices.

Thus, the domestic coffee price on 04/02/2024 is trading around the threshold of VND 98,100 - 98,700/kg.