Coffee prices in Vietnam on February 23: Coffee prices simultaneously decreased

Published 2024년 2월 24일

Tridge summary

Coffee prices on ICE Europe - London and ICE US - New York exchanges have seen a decrease due to funds and speculation selling and liquidating 'overbought' net positions. This decline is also reflected in the Central Highlands provinces. The easing of drought conditions in Brazil and an anticipated increase in the country's output for the 2024/2025 coffee crop are key factors behind the price drop. Additionally, Vietnam's record-high coffee exports in January have exerted further downward pressure on global coffee futures prices.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

At the end of the trading session, Robusta coffee prices on ICE Europe - London exchange reversed and decreased. The March delivery term decreased by 22 USD, to 3,152 USD/ton and the May delivery term decreased by 28 USD, to 3,085 USD/ton, sharp drops. Trading volume remains quite high above average. Similarly, the price of Arabica coffee on the ICE US - New York floor also tends to decrease. Futures for May delivery decreased by 1.70 cents, to 181.45 cents/lb and futures for July delivery decreased by 1.60 cents, to 180.50 cents/lb, sharp drops. Trading volume remains above average. Coffee prices in the Central Highlands provinces today decreased by 1,000 VND/kg. Specifically, localities are purchasing coffee at prices ranging from 81,800 - 82,800 VND/kg. Among them, Lam Dong province recorded the lowest price of 81,800 VND/kg, followed by Gia Lai province with a price of 82,400 VND/kg. Dak Lak province and Dak Nong province recorded prices of 82,500 VND/kg and 82,800 VND/kg, ...

Source: Danviet