Coffee prices on 05/19/2024: Up by VND 3,500/kg this week

Coffee prices on May 19 globally

On the global market, both the London and New York exchanges remained stable on May 19.

Specifically, the price of Robusta on the London exchange for the July 2024 contract held steady at around $3,518/ton. The September 2024 contract also remained at the level of $3,518/ton.

Meanwhile, on the New York exchange, the price of Arabica for the July 2024 contract stood at 206.60 cents/lb, and the September 2024 contract maintained its position at 205.45 cents/lb.

The global coffee prices saw no new fluctuations today. Summarizing this week, both exchanges experienced significant increases, with the July contract seeing Robusta prices rise by $78/ton and Arabica prices by 5.45 cents/lb.

In the last two sessions of the week, this agricultural commodity reversed its trend and saw the strongest increase in the final session. According to experts, the positive economic news from the United States in recent days further strengthened confidence in the Fed's potential interest rate cuts in the future.

This has impacted commodity exchanges, including the coffee market. The upward trend in coffee prices this week was not driven by supply and demand factors but mainly by optimism about softer monetary policies from the United States to Europe.

Thus, global coffee prices on 05/19/2024 remained unchanged compared to yesterday.

Coffee prices on May 19 domestically

In the domestic market, coffee prices on May 19th showed no new changes compared to yesterday.

Specifically, in Lam Dong province, the districts of Di Linh, Bao Loc, and Lam Ha are trading at the same level of VND 103,300/kg.

In Dak Lak province, the district of Cu M'gar is purchasing at VND 103,900/kg. Meanwhile, Ea H'leo and Buon Ho districts are trading at VND 103,800/kg.

In Dak Nong province, traders in Gia Nghia and Dak R'Lap are transacting at VND 104,000 and VND 103,900/kg, respectively.

In Gia Lai province, Chư Prông district is trading at VND 103,400/kg, while Pleiku and La Grai are maintaining prices at VND 103,300/kg.

The purchase price in Kon Tum province today stands at VND 103,400/kg.

$ 1 = VND 25.220 - Source: Vietcombank