Domestic coffee prices increase
The domestic coffee market recorded a sharp decrease of VND 1,400/kg. The purchase price in the areas is as follows:
Dak Lak, Dak Nong: 133,500 VND/kg (1,500 VND).
Gia Lai: 133,500 VND/kg (1,300 VND).
Lam Dong: 132,500 VND/kg (1,200 VND).
After a period of high growth, coffee prices reversed and decreased sharply, falling below the threshold of 133,000 VND/kg.
World coffee prices increase and decrease alternately
On the London Stock Exchange, the price of red Robusta on the trading floor:
5th term: 5,497 USD/ton (-30 USD, equivalent to -0.54%)
7: 5,482 USD/ton (-27 USD, equivalent to -0.49%)
On the other hand, Arabica prices on the New York exchange continued to be covered in green:
Monthly term: 392.05 cents/lb (+1.00 cents, equivalent to +0.26%).
Monthly term: 385.60 cents/lb (+1.55 cents, equivalent to +0.40%)
Reasons for coffee prices continuing to increase
The US Federal Reserve (Fed) kept interest rates unchanged at its March meeting, reducing pressure on the USD, supporting overall commodity prices, including coffee.
According to the latest report from the International Coffee Organization (ICO), global coffee output in the 2023/24 crop year decreased by 20% compared to the initial forecast, especially in major producing countries such as Vietnam and Brazil, contributing to pushing up prices.
Along with that, the food and beverage industry in major markets such as the US, Europe and China is increasingly developing, boosting coffee imports.
Coffee price forecast
The next domestic coffee harvest season is approaching, this commodity is expected to fluctuate. Meanwhile, Arabica coffee prices are likely to maintain their upward momentum, while Robusta prices may stabilize or decrease slightly due to pressure from supply.
