(VAN) Coffee prices on 05/30/2024 experienced mixed movements. Domestic coffee prices increased by VND 2,500, reaching the range of VND 121,000 – 122,200/kg.
Latest coffee prices in domestic and international markets on 05/30/2024
Coffee prices on May 30 globally
On the global stage, the two major coffee exchanges, London and New York, experienced mixed movements on May 30.
On the London exchange, the price of Robusta for July 2024 delivery increased by $ 57, reaching $ 4,177 /ton. The price for September 2024 delivery also saw a slight increase of $ 17, standing at $ 4,042/ton.
Conversely, on the New York exchange, the price of Arabica for July 2024 delivery decreased by 1.5 cents, falling to 229.45 cents/lb. The September 2024 delivery also dropped by 1.5 cents, reaching 228.30 cents/lb.
Latest Arabica and Robusta prices on 05/30/2024
Global coffee prices today are seeing a strong increase on the London exchange, while the New York exchange has turned downward due to pressure from a strengthening USD.
As of the survey time, the DXY index, which measures the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), has risen to 105.12.
The USD is rising thanks to increasing U.S. bond yields, ahead of important inflation data expected to be released at the end of this week.
Meanwhile, Robusta prices continue to benefit from concerns about excessive drought in Brazil and Vietnam recently, which could damage coffee trees and limit global production.
The market continues to worry that insufficient rainfall in Vietnam could reduce the output of the new crop. Additionally, there are initial reports in Brazil of ongoing heat waves posing risks to coffee-growing areas for the 2024/25 crop season.
On the exchange, after two weeks of position liquidation, major speculators have returned to buying, pushing the market back to high price levels. Robusta prices remain hot, seeing a spectacular comeback after nearly a month of free-falling from the peak.
Thus, global coffee prices on 05/30/2024, are showing mixed movements compared to yesterday.
Coffee prices on May 30 domestically
In the domestic market, coffee prices today on May 30, have increased by VND 2,500/kg compared to yesterday.
Specifically, in Lam Dong province, the three districts of Di Linh, Bao Loc, and Lam Ha are all trading at VND 121,000/kg.
In Dak Lak, Cu M’gar district is purchasing at VND 121,700/kg today. Meanwhile, Ea H’leo and Buon Ho districts are trading at VND 121,600/kg.
In Dak Nong province, traders in Gia Nghia and Dak R’lap are trading at VND 122,200 and VND 122,100/kg, respectively.
In Gia Lai province, Chu Prong district is trading at VND 121,700/kg, while Pleiku and La Grai are both maintaining a price of VND 121,600/kg.
The purchase price in Kon Tum today is VND 121,600/kg.
Domestic coffee prices today continue to rise strongly, pushing this agricultural product above the high threshold of VND 122,000/kg.
Thus, domestic coffee prices on 05/30/2024, are trading around the range of VND 121,000 – 122,200/kg.
$ 1 = VND 25.220 – Source: Vietcombank
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