Domestic coffee prices
Today, May 19, coffee prices in the domestic market continued to slide for the third consecutive session. The current common price ranges from 123,800 - 124,700 VND/kg, down 500 - 700 VND/kg compared to yesterday.
Dak Lak and Gia Lai both traded at 124,500 VND/kg, down 500 VND/kg.
Lam Dong is the locality that recorded the lowest price at 123,800 VND/kg, down 700 VND/kg.
Dak Nong had the highest price, reaching 124,700 VND/kg, down 500 VND/kg.
extending the series of deep price declines, the starting price at the beginning of the new week continued to decrease by 500 VND/kg, losing the short recovery momentum since the middle of the month.
World coffee prices
The world coffee market suddenly stopped:
On the London Stock Exchange, Robusta's July term was at 4,865 USD/ton; September term reached 4,860 USD/ton.
On the New York Stock Exchange, Arabica listed the July term at 365.65 cents/lb; long-term terms ranged from 351.70 - 362.50 cents/lb.
Assessment
In the past week, supplemented supply along with increased inventory on the stock exchange was the main reason for the sharp decline in coffee.
The market is still monitoring the development of trade negotiations between the US and other countries, along with the policy of the US Federal Reserve (Fed) in the coming time. These moves will determine the up and down of the USD, thereby leading the commodity markets, including coffee.
