Domestic coffee prices
This morning (May 9), domestic coffee prices increased slightly in most localities.
In Dak Lak and Gia Lai, coffee is purchased at 128,500 VND/kg, an increase of 500 VND compared to yesterday.
In Lam Dong, the price increased to 128,300 VND/kg, an increase of 600 VND.
Dak Nong alone recorded the highest price in the group - 128,700 VND/kg, also increased by 500 VND.
Compared to the most recent peak on April 30 (130,800 VND/kg), coffee prices today are still about 2,000 VND/kg lower, showing that the technical adjustment trend is still taking place after a long increase in April.
World coffee prices
On the London Stock Exchange, Robusta coffee contract prices for delivery in July increased slightly by 26 USD/ton to 5,265 USD/ton. Other terms also increased from 22 - 26 USD/ton.
On the New York Stock Exchange, Arabica coffee futures for July increased by +3.25 cents/lb, to 387.35 cents/lb, recovering after two consecutive sessions of sharp decline.
Coffee market assessment
World coffee prices are showing signs of a slight recovery, but are still within a narrow range. After a deep decline on May 7 due to profit-taking pressure and expectations of abundant supply from Brazil and Southeast Asia, the market is now entering the accumulation phase.
According to an analysis from Reuters news agency, the Arabica market is receiving support from speculative buying activities as ICE inventories have slightly decreased. Meanwhile, Robusta is supported by the fact that the volume of exports from Vietnam is still lower than the same period and the harvest progress in Indonesia is not as expected.
However, good rain forecasts in the Central Highlands and Brazil's Robusta coffee growing region could ease concerns about short-term supply shortages, thereby putting pressure on price recovery.
* Note: Information is for reference only, reflecting coffee price developments at the time of update. Readers should combine more monitoring of weather factors, output and import-export policies to assess coffee market trends more accurately.
