The coffee price on 05/26/2023: Reducing by VND 500/kg

World coffee price on May 26

Coffee prices on May 26 in the world market simultaneously decreased at both major exchanges.

At the time of the survey, the price of Robusta coffee on the London exchange for delivery in July 2023 increased slightly by $16/ton (equivalent to 0.63%); to $2,573/ton.

And the price of coffee delivered in September 2023 on this exchange increased by $20/ton (equivalent to 0.8%); at $2,530/ton.

The price of Arabica coffee on the New York Stock Exchange delivered in July 2023 increased slightly by 0.55 cents/lb (equivalent to 0.29%); to 188 cents/lb.

For the September delivery term, the price of coffee on this exchange increased by 0.55 cents/lb (or 0.3%), to 185.75 cents/lb.

World coffee prices today simultaneously fell after being under pressure from a strong dollar and hit the highest level in the past 2 months. 

In particular, Arabica coffee had the strongest impact when it fell deeply by over 2.75%. However, compared to the beginning of the year, the current coffee price has increased by about 40%. And Robusta coffee price only decreased slightly below 0.9%.

According to Mr. Thai Nhu Hiep, Vice President of the Vietnam Coffee Cocoa Association (VICOFA), the demand for Robusta coffee is increasing because consumers around the world are having to save due to the effects of inflation and economic recession.

Drinking coffee every day is a hard habit to break, but Arabica beans are too expensive. Therefore, many customers look to cheaper Robusta coffee beans to mix with Arabica beans to reduce costs. 

Thus, the price of coffee on 05/26/2023 in the world market decreased compared to yesterday.

Domestic coffee price on May 26

Coffee price on May 26 in the domestic market was down VND 400-500/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 today at VND 60,000/kg.

In Cu M'gar district (Dak Lak), the price of coffee today remained at VND 60,500/kg. In Ea H'leo and Buon Ho districts, today's coffee price in Dak Lak is kept at VND 60,400/kg.

Coffee prices in Gia Nghia and Dak R'lap of Dak Nong province today were purchased at VND 60,500 and VND 60,400/kg, respectively.

In Gia Lai, the price of coffee in Chu Prong today is at VND 60,400/kg; while the price at Pleiku and La Grai are holding the same level of VND 60,300/kg.

The price of coffee today in Kon Tum is being purchased at VND 60,400/kg.

The domestic coffee price today is also turning to decrease slightly and is heading toward the mark of VND 60,000/kg.

Robusta coffee production in our country in the crop year 2022 - 2023 is estimated to decrease by 10-15% compared to the previous crop year.

It is forecasted that this year will only reach about 1.5 million tons of coffee, due to the influence of unfavorable weather and the wave of crop shifting.

Thus, the price of coffee on 05/26/2023 in the domestic market traded around the threshold of VND 60,000 - 60,500/kg.

$1 = VND 23,290.00 - Source: Vietcombank