Coffee prices on April 17: Vietnamese coffee again "rushed" the record high price just set, supply is tight

Coffee Drinks
Market & Price Trends
Published Apr 18, 2024

Tridge summary

Coffee prices have surged on the global market, with Robusta and Arabica varieties reaching record highs for May 2024 delivery, at $4,005/ton and 236.75 UScents/pound respectively. This increase is attributed to factors such as drought and transportation issues affecting coffee-producing countries. In Vietnam, domestic coffee prices have also risen, with Dak Nong province seeing the highest at 116,200 VND/kg. Brazil, a major coffee producer, has started its Robusta Conillon harvest for 2024 under favorable conditions, expecting a crop of about 69 million bags for 2023/2024 and projecting similar figures for the following year. The market's current dynamics are primarily driven by fundamental factors rather than technical information.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the latest records, coffee prices on the world market continue to increase sharply. Specifically, the online price of Robusta coffee in London for delivery in May 2024 was recorded at 4,005 USD/ton after an increase of 1.78%. The price of Arabica coffee delivered in May 2024 in New York was at 236.75 UScents/pound after an increase of 2.25%. May Arabica coffee traded on Tuesday closed up 5.20 cents/pound and Robusta coffee closed up $31/ton Thus, Arabica coffee increased to its highest level in the past year and a half and Robusta coffee continued to hold the mark of over 4,000 USD/ton, which is a symbolic high mark of all time. Domestic coffee prices today fluctuate between 115,600 - 116,200 VND/kg, maintaining an increase of 1,500 - 1,600 VND/kg. Specifically, Dak Nong province is anchored at the highest threshold of 116,200 VND/kg, an increase of 1,600 VND/kg. After increasing 1,500 VND/kg, traders in Gia Lai and Dak Lak provinces traded coffee at prices of 115,900 ...
Source: Danviet
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