News

Coffee price in Vietnam on April 16, 2024, increased sharply to a new record

Raw Common Coffee Bean
Vietnam
Market & Price Trends
Published Apr 16, 2024

Tridge summary

On April 16, 2024, a notable surge in coffee prices was observed on both the London and New York exchanges, with significant increases in the cost of Robusta and Arabica varieties. In London, Robusta prices for May and July delivery reached $3,974 and $3,949 per ton, respectively, while in New York, Arabica prices for the same months ascended to 231.55 and 226.85 cents per lb. This global uptick in prices is largely attributed to concerns over a dwindling supply, exacerbated by extended periods of heat and drought in key coffee-producing regions. Concurrently, Vietnam's domestic market witnessed record-high prices, with coffee reaching 114,000 VND/kg in several provinces. The article also underscores the adoption of water-saving irrigation technologies in Kon Tum province, highlighting efforts to mitigate drought impacts and promote sustainable coffee cultivation amidst these challenging conditions.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Coffee prices today April 16 in the world In the world, the London and New York exchanges on April 16 simultaneously increased sharply. In particular, the price of Robusta on the London exchange for delivery in May 2024 increased to 74 USD; reaching 3,974 USD/ton. And the term for delivery in July 2024 increased sharply to 97 USD; at 3,949 USD/ton. On the New York floor, the price of Arabica delivered in May 2024 increased sharply by 6.9 cents; to 231.55 cents/lb. And the July 2024 delivery term increased by 6.4 cents; at 226.85 cents/lb. World coffee prices today increased sharply today. In particular, Robusta prices increased by 2%, while Arabica prices increased by 3%. Although Indonesia and Brazil are about to harvest, coffee prices continue to increase. The cause is said to be due to concerns about scarce supply due to prolonged heat and drought in all countries producing this agricultural product. Thus, world coffee prices on April 16, 2024 increased sharply compared to ...
Source: Agriculture
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