(VAN) Coffee prices on 06/22/2024 have fallen globally. Domestic coffee prices have dropped by VND 1,500, bringing them to around VND 120,500 – 121,700/kg.
Latest coffee prices in domestic and global markets on 06/22/2024
Coffee prices on June 22 globally
Globally, both the London and New York exchanges saw significant declines on June 22.
Specifically, Robusta prices on the London exchange for July 2024 delivery dropped by $ 75, falling to $ 4,299/ton. The September 2024 delivery also saw a sharp decline, dropping by $ 72 to $ 4,104/ton.
On the New York exchange, Arabica prices for September 2024 delivery decreased by 5.35 cents, reaching 225 cents/lb. The November 2024 delivery also fell significantly by 5.3 cents, settling at 223.25 cents/lb.
Arabica and Robusta prices on 06/22/2024
Today global coffee prices turned sharply down due to a rising USD. As of the survey time, the DXY index, which measures the dollar against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), increased to 105.83.
Previously, both Robusta and Arabica had risen significantly to the highest levels in two weeks. This was due to ongoing hot and dry weather in Brazil and Vietnam, raising concerns about global coffee production for the upcoming season.
According to some industry experts, coffee prices are likely to be less volatile in the near future compared to recent months but will remain at high levels. This is because Brazil is in the peak harvest season, while Vietnam’s new harvest won’t begin until October.
Thus, world coffee prices on 06/22/2024 saw a significant decrease compared to yesterday.
Coffee prices on June 22 domestically
In the domestic market, coffee prices turned sharply down compared to yesterday.
Specifically, in Lam Dong province, the three districts of Di Linh, Bao Loc, and Lam Ha are all trading at VND 120,500/kg.
In Dak Lak, Cu M’gar district is purchasing at VND 121,500/kg today. Meanwhile, Ea H’leo and Buon Ho districts are trading at VND 121,400/kg.
In Dak Nong province, traders in Gia Nghia and Dak R’lap are trading at VND 121,700 and VND 121,600/kg, respectively.
In Gia Lai province, Chu Prong district is trading at VND 121,500/kg, while Pleiku and La Grai districts are holding steady at VND 121,400/kg.
The purchase price in Kon Tum today is VND 121,500/kg.
The domestic coffee prices today have dropped by VND 1,500, causing the commodity to fall below the VND 122,000/kg threshold.
Currently, there are no specific figures available, but it is certain that the output for the 2024/25 season will not match that of the previous season. Therefore, Vietnam’s coffee industry needs to prepare more defensive strategies and improve risk management for the upcoming harvest.
Thus, domestic coffee prices on 06/22/2024, are trading around the range of VND 120,500 – 121,700/kg.
$ 1 = VND 25.218 – Source: Vietcombank
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