Domestic coffee prices continue to increase
The domestic coffee market recorded an increase of 2,000 - 2,700 VND/kg. The purchase price in the areas is as follows:
Dak Lak, Dak Nong: 134,000 VND/kg (+2,700 VND)
Lam Dong: 132,500 VND/kg (+2,000 VND)
Gia Lai: 133,800 VND/kg (+2,500 VND)
This increase has helped domestic coffee prices recover after a period of recent fluctuations.
World coffee prices increase sharply
On the London Stock Exchange, Robusta prices increased sharply:
5th term: 5,552 USD/ton (+177 USD, equivalent to +3.29%)
September term: 5,513 USD/ton (+171 USD, equivalent to +3.2%)
Meanwhile, Arabica prices on the New York exchange also increased:
Monthly term: 393.75 cents/lb (+9.75 cents, equivalent to +2.54%)
Monthly term: 384.40 cents/lb (+9.70 cents, equivalent to +2.59%)
Reasons for the sharp increase in coffee prices
According to market analysis, the increase in coffee prices comes from many factors:
Limited supply: ICE-supervised Robusta inventories continue to decrease, while Vietnamese and Brazilian farmers limit sales to wait for better prices.
Purchasing activities from speculative funds: Investment funds return to the market after adjusting their positions, pushing prices up.
Impact of financial markets: The weak USD makes goods, especially coffee, more attractive to investors.
Coffee price forecast
Coffee prices may continue to maintain a positive trend in the short term. However, the market still needs to monitor additional factors such as the FED's moves on interest rates and the export situation from major producing countries such as Brazil and Vietnam.
