Domestic coffee prices increase
The domestic coffee market recorded an increase of 1,200 VND/kg. The purchase price in the areas is as follows:
Dak Lak, Gia Lai: 134,000 VND/kg (+1,300 VND).
Dak Nong: 134,000 VND/kg (+1,000 VND).
Gia Lai: 132,700 VND/kg (+900 VND).
Lam Dong: 132,700 VND/kg (+1,700 VND).
Continuing the strong increase, coffee products exceeded the threshold of 134,000 VND/kg.
World coffee prices bounce simultaneously
On the London Stock Exchange, Robusta prices increased again:
5th term: 5,474 USD/ton (+77 USD, equivalent to +1.43%)
7: 5,451 USD/ton (+74 USD, equivalent to +1.38%)
In the same direction, Arabica prices on the New York exchange were in the green:
Monthly term: 383.40 cents/lb (+6.2 cents, equivalent to +1.64%).
Monthly term: 376.75 cents/lb (+5.85 cents, equivalent to +1.58%)
Reasons for coffee prices continuing to increase
According to a report from the Vietnam Coffee - Cocoa Association (VICOFA), exports of deep-processed coffee such as instant coffee, tablets and specialty coffee are increasing sharply. This helps increase export value and reduce dependence on raw coffee.
Major markets such as the US, Europe and Asia recorded a significant increase in coffee consumption demand, especially Robusta coffee - Vietnam's main coffee drink, which helped support price increases.
Coffee price forecast
The next domestic coffee harvest season is approaching, this commodity is expected to remain stable at a high level and may increase slightly in the coming time.
