News

Vietnam: Coffee prices on April 20 increased to a new record

Raw Common Coffee Bean
Vietnam
Market & Price Trends
Published Apr 21, 2024

Tridge summary

Global coffee prices have surged to record levels, driven by a combination of supply shortages and increased costs. A projected 10-15% drop in worldwide coffee production, coupled with severe droughts in key regions like Vietnam, which anticipates a 10% fall in its 2023-2024 coffee yield, has significantly impacted supply. Furthermore, geopolitical tensions have escalated shipping and related expenses, contributing to the price hikes. Despite a modest rise in export volume, Vietnam experienced its highest coffee export turnover since 2013 in the first quarter of 2024, highlighting the severe effects of these global factors on coffee prices.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the latest records, the online price of Robusta coffee in London delivered in May 2024 is at 4,083 USD/ton after an increase of 0.05%. July 2024 delivery term increased by 0.44% (18 USD) to trade at 4,080 USD/ton. High average trading volume. Arabica coffee price for delivery in May 2024 in New York was at 241.4 UScents/pound after increasing 0.65%. Meanwhile, futures delivered in July 2024 increased by 0.32% (0.75 Cent), trading at 231.85 Cent/lb. High average trading volume. Domestic coffee prices today increased sharply again, recording a new level. Specifically, Dak Nong province has the highest coffee transaction price at 124,000 VND/kg, an increase of 2,800 VND/kg. Traders in Dak Lak are buying coffee at a price of 123,500 VND/kg, an increase of 2,500 VND/kg. The two provinces of Gia Lai and Lam Dong both anchored at 122,500 VND/kg after increasing 1,700 VND/kg and 1,900 VND/kg. Coffee growers in Vietnam are holding back their goods even though prices are at ...
Source: Danviet
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