Coffee price in Vietnam on May 15, 2024

Published May 15, 2024

Tridge summary

On May 15, 2024, coffee prices saw an increase on both the London and New York exchanges, with Robusta and Arabica prices for future deliveries reaching higher figures. This rise in prices is attributed to a weakening USD, a decrease in transactions, and an anticipated decrease in speculative buying after a strong sell-off. The US Department of Agriculture predicts significant increases in Arabica production in Brazil and Colombia for the 2023/24 crop year. Meanwhile, Vietnam, Indonesia, and Brazil are under close market monitoring for weather conditions and harvest progress. In Vietnam, coffee exports have experienced a decrease in volume and value for the third consecutive month, indicating a potential supply shortage in the current crop year. Despite this, the export price per ton has seen significant increases.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Coffee prices today May 15 around the world In the world, the London and New York exchanges on May 15 turned to increase. In particular, the price of Robusta on the London exchange for delivery in July 2024 increased sharply by 34 USD; increased to 3,433 USD/ton. And the September 2024 delivery term increased to 38 USD; at 3,364 USD/ton. On the New York floor, the price of Arabica delivered in July 2024 increased sharply by 4.80 cents; touching 200.85 cents/lb. And the September 2024 delivery futures increased by 4.65 cents; at 199.90 cents/lb. World coffee prices today increased sharply, partly due to the weakening of the USD. However, the number of transactions on the floor decreased significantly. Experts speculate that speculators have not bought in after the previous strong sell-off. In addition, the weakening of the USD compared to other currencies also helps the price of this agricultural product increase. At the time of the survey, the DXY index measuring greenback ...
Source: Agriculture
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