Coffee price on April 11: New record, towards 110,000 VND/kg

Coffee Drinks
Market & Price Trends
Published Apr 12, 2024

Tridge summary

Coffee prices are witnessing significant fluctuations on the global market, with both Robusta and Arabica varieties reaching record highs due to supply challenges and a surge in demand. In London, Robusta coffee for May 2024 delivery is priced at 3,777 USD/ton, a 1.31% increase, while Arabica in New York for the same period is at 214.65 UScents/pound, up by 0.52%. These price hikes are attributed to concerns over drought in Vietnam and insufficient rainfall in Brazil's Minas Gerais, affecting supply as farmers consider switching to other crops. With prices at their highest in years and having risen for six consecutive months, analysts foresee further increases, especially for Arabica, which could reach 240 cents. This trend marks an 18-month high for world coffee prices, with Robusta hitting a nearly 30-year peak.
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

According to the latest records, coffee prices on the world market are fluctuating. Specifically, the online price of Robusta coffee in London for delivery in May 2024 was recorded at 3,777 USD/ton after an increase of 1.31%. Arabica coffee price for delivery in May 2024 in New York was at 214.65 UScents/pound after increasing 0.52%. Domestic coffee prices today fluctuate between 106,200-107,100 VND/kg, continuing to increase by 1,200 VND/kg in key provinces and cities. In detail, the two provinces of Lam Dong and Dak Nong adjusted coffee prices to the lowest and highest levels of 106,200 VND/kg and 107,100 VND/kg. Coffee transaction prices in Gia Lai and Dak Lak were recorded at 106,600 VND/kg and 107,000 VND/kg, respectively. Coffee prices on Wednesday escaped downward pressure at the start of the session to close higher in both markets, on concerns about coffee crops in Brazil and Vietnam. Information from Vietnam Customs about a 17% increase in coffee exports in March was not ...
Source: Danviet
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