Domestic coffee prices extend the increase streak
The domestic coffee market recorded a slight increase of VND 500/kg. The purchase price in the areas is as follows:
Dak Lak, Dak Nong: 133,500 VND/kg (+500 VND)
Lam Dong: 131,500 VND/kg (+500 VND)
Gia Lai: 133,500 VND/kg (+500 VND)
This increase has helped coffee prices recover after a period of fluctuations, standing more firmly at 133,000 VND/kg.
World coffee prices increase simultaneously
On the London Stock Exchange, Robusta prices increased slightly:
January term: 5,528 USD/ton (+20 USD, equivalent to +0.36%)
7: 5,506 USD/ton (+22 USD, equivalent to +0.40%)
Meanwhile, Arabica prices on the New York exchange increased and decreased alternately:
Monthly term: 385.70 cents/lb (1.05 cents, equivalent to -0.27%)
Monthly term: 378.65 cents/lb (+0.10 cents, equivalent to +0.03%)
Reasons for the sharp increase in coffee prices
According to Bloomberg, Vietnam's coffee output in the current crop year is expected to decrease compared to last year due to unfavorable weather, leading to a serious shortage of supply and increasing global coffee prices.
The export market is currently facing many challenges as importers have built strict technical standards. Including EU anti-deforestation regulation (EUDR) a market that accounts for 41% of Vietnamese coffee exports.
Coffee price forecast
Coffee prices may continue to maintain a positive trend in the short term. However, the market still needs further monitoring as some farmers switch to growing durian to meet the large demand from the Chinese market.
