News

Coffee prices on April 19 in Vietnam dropped sharply after many days of hot increases

Raw Common Coffee Bean
Vietnam
Sustainability & Environmental Impact
Market & Price Trends
Published Apr 20, 2024

Tridge summary

The global coffee market has seen a notable decline in prices for May 2024 deliveries, with Robusta coffee in London dropping by 3.61% to 4,081 USD/ton and Arabica coffee in New York decreasing by 3.27% to 239.85 UScents/pound. This downturn is largely attributed to the pressures of liquidating buying positions, a strong USD, and the liquidation of futures contracts following a month of price increases. Additionally, domestic prices in Vietnam have also fallen, reflecting the broader market trend. The market's attention is now on weather conditions in Brazil and Vietnam, key coffee-producing countries, as Brazil enters its drier winter months and Vietnam experiences drier than usual conditions in April. Despite a high export turnover for Vietnam in the first quarter, the global coffee market faces adjustments due to a forecasted slight surplus for the 2023 - 2024 crop year.
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

The coffee market plummeted when there was pressure to liquidate buying positions. According to the latest records, the online price of Robusta coffee in London delivered in May 2024 is at 4,081 USD/ton after a decrease of 3.61%. The price of Arabica coffee delivered in May 2024 in New York was at 239.85 UScents/pound after a decrease of 3.27%. Previously, May Arabica coffee traded on Thursday closed down 8.10 cents/pound and May Robusta coffee closed down 153 USD/ton. Domestic coffee prices today decreased by 1,000 - 1,200 VND/kg, closing at 120,600 - 121,200 VND/kg. Specifically, after a reduction of 1,000 VND/kg, traders in Dak Lak and Dak Nong are purchasing coffee at the lowest and highest prices in the region of 121,000 VND/kg and 121,200 VND/kg. The two provinces of Lam Dong and Gia Lai decreased by 1,000 VND/kg and 1,200 VND/kg to 120,600 VND/kg and 120,800 VND/kg, respectively. The intraday market gave up early gains early in the session as there was a sharp sell-off ...
Source: Danviet
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