News

Coffee prices in Vietnam on March 29, 2024: The market turned down sharply

Raw Common Coffee Bean
Vietnam
Market & Price Trends
Published Mar 29, 2024

Tridge summary

On March 29, 2024, the global coffee market saw a notable decrease in prices, with both Robusta and Arabica coffee futures dropping, largely due to investors offloading short-buying contracts before a holiday. This decline comes amidst a forecasted 20% reduction in Vietnam's coffee production for the 2023/24 crop year, primarily due to drought conditions, which is expected to lead to a global Robusta shortage in the 2024/25 season. Despite the international price drop, coffee prices in Vietnam have decreased but still hover near a high of 99,000 VND/kg, reflecting the anticipated lower production levels and the existing high price environment.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Coffee prices today March 29 around the world Around the world, the London and New York exchanges on March 29 simultaneously decreased. In particular, the price of Robusta on the London exchange for delivery in May 2024 decreased by up to 80 USD; down to 3,479 USD/ton. And the term for delivery in July 2024 increased sharply to 71 USD; at 3,396 USD/ton. On the New York floor, the price of Arabica delivered in May 2024 lost up to 1.8 cents; to 188.85 cents/lb. And the July 2024 delivery term decreased by 1.85 cents; at 188.05 cents/lb. World coffee prices today turned down sharply as investors sold off short-buying contracts before preparing for a long holiday. In particular, the price of Robusta on the London floor has lost more than 2%. The Ministry of Agriculture and Rural Development expects that Vietnam's coffee output in the 2023/24 crop year may decrease by about 20%; down to 1.472 million tons - the lowest level in 4 years - due to drought. Meanwhile, Marex Group forecasts ...
Source: Agriculture

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