Coffee prices on May 16: Inventory recovered, coffee prices decreased

Published May 17, 2024

Tridge summary

Global coffee prices have seen fluctuations and a recent decline, with Robusta and Arabica coffee prices dropping for July 2024 deliveries in London and New York, respectively. In Vietnam, local coffee prices also fell by 400-500 VND/kg, attributed to increased ICE coffee inventories. Brazilian coffee growers have largely sold their 2023/2024 crop, especially Arabica, due to higher prices in April. The Vietnam Coffee and Cocoa Association forecasts that while domestic coffee prices won't hit peak levels again, they will remain above previous normal prices.
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 fluctuated and decreased. Specifically, the online price of Robusta coffee in London delivered in July 2024 was recorded at 3,402 USD/ton after a decrease of 0.90%. The remaining terms also decreased. The price of Arabica coffee delivered in July 2024 in New York was at 199.40 UScents/pound after a decrease of 0.72%. Coffee prices in key localities in the country today simultaneously decreased by 400 - 500 VND/kg. Specifically, traders in Lam Dong and Dak Lak are purchasing coffee at the lowest and highest prices in the region of 100,400 VND/kg and 101,500 VND/kg after a reduction of 500 VND/kg. The two provinces of Gia Lai and Dak Nong decreased by 400 VND/kg and 500 VND/kg to 101,000 VND/kg and 101,400 VND/kg, respectively. On the two exchanges, coffee prices today decreased moderately as ICE coffee inventories increased again from low levels. Inventories of certified graded Arabica coffee held in the New York ...
Source: Danviet
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