Domestic coffee prices drop sharply
This morning, May 15, domestic coffee prices continued to plummet, marking the third consecutive decline with an adjustment of VND 2,300 - 2,500/kg.
In Dak Lak and Gia Lai, coffee prices were recorded at 126,000 VND/kg, down 2,500 VND and 2,400 VND compared to yesterday.
Lam Dong currently purchases coffee at 125,700 VND/kg, down 2,300 VND.
Dak Nong reached 126,200 VND/kg, down 2,300 VND.
Compared to 3 days ago (12.): Coffee prices in Dak Lak have decreased by a total of VND4,500/kg, from VND130,500 to only VND126,000/kg, equivalent to a decrease of more than 3%.
World coffee prices plummet
World coffee prices continued to fall sharply as both exchanges simultaneously lost their strong points:
London (Robusta):
The July delivery period decreased by $119 to $5,010/ton.
Other terms also decreased by more than 100 USD/ton.
New York ( Arabica):
July term fell 11.55 cents to 364.80 cents/lb.
Longer terms all cost more than 8 cents, marking the deepest downward trend since late April.
The gap between the highest and lowest prices in the session is still very large, showing that the market is still strongly dominated by speculative factors and supply concerns.
Prediction: Profit-taking pressure pushes coffee prices down
According to experts, coffee prices today continue to be under pressure to make a profit from speculators after a series of hot increases in early May. In addition, favorable technical factors and weather information in Brazil have reduced concerns about Robusta supply shortages, contributing to the decline in prices.
The continuous decline has caused the coffee market to face many fluctuations. Major roasters are still cautiously monitoring the situation, while Vietnamese farmers and businesses are under great pressure as domestic prices fall to their lowest level in more than a week.
