Domestic coffee prices
This morning (May 10), domestic coffee prices "turned around" and fell in all key regions.
In Dak Lak, coffee is purchased at 128,200 VND/kg, down 300 VND compared to yesterday. Meanwhile, Gia Lai witnessed a sharp decrease of more than 100 VND, down to 128,100 VND/kg.
Lam Dong is no exception when the price reached 128,000 VND/kg, down 300 VND/kg.
Despite the biggest decrease today, Dak Nong is still the locality with the highest pepper purchasing price in the group, setting the mark of 128,300 VND/kg.
World coffee prices
On the London Stock Exchange, Robusta coffee contract prices for delivery in July decreased by 39 USD/ton, to 5,226 USD/ton. Other terms also plummeted from 26 - 32 USD/ton.
On the other hand, on the New York Stock Exchange, Arabica coffee futures for July increased by 0.40 cents/lb to 387.75 cents/lb, continuing to escalate after many consecutive sessions of sharp decline.
Coffee market assessment
Coffee prices have been moving in a downward trend since May when there was a series of information showing signs of improved supply.
Currently, the world's leading coffee producing country, Brazil, is entering the Robusta harvest, also known as Conilon, at the end of April and is forecasting the season. Brazilian Arabica coffee will also be harvested in July, creating an abundant supply for the global market in the coming time.
In addition, Vietnam's coffee exports in April increased sharply, adding to the stock of goods for roasters around the world. The above factors may cause coffee prices to continue to decrease.
* Note: Information is for reference only, reflecting coffee price developments at the time of update. Readers should combine more monitoring of weather factors, output and import-export policies to assess coffee market trends more accurately.
