Coffee prices on May 5 in Vietnam: Coffee prices have had a very strong week

Published May 5, 2024

Tridge summary

Global coffee prices have recently seen a decrease, with Robusta coffee in London for July 2024 dropping by 3.78% to 3,541 USD/ton, and Arabica coffee in New York for the same month falling by 2.06% to 200.75 UScents/pound. This trend is mirrored in Vietnam, with domestic coffee prices also experiencing a sharp decline. Despite this, Vietnam's coffee exports to the European Union (EU) saw an increase in both volume and value in the first quarter, making it the country's largest coffee export market. Other Asian countries like Japan, China, Korea, Malaysia, Indonesia, Philippines, and Thailand also reported significant increases in coffee imports from Vietnam. However, there was a decrease in Vietnam's coffee exports to the US, Russia, and Algeria. The European Coffee Federation reported a significant drop in coffee inventories at European port warehouses compared to the end of the previous year.

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 have decreased. Specifically, the online price of Robusta coffee in London delivered in July 2024 was recorded at 3,541 USD/ton after a decrease of 3.78%. The price of Arabica coffee delivered in July 2024 in New York was at 200.75 UScents/pound after a decrease of 2.06%. Domestic coffee prices today continued the sharp decline in the previous session, trading around 110,000 - 110,200 VND/kg. This week, the coffee market suddenly dropped sharply. At the end of the week, localities recorded a decrease of about 20,800 - 21,500 VND/kg compared to the beginning of the week. Specifically, Lam Dong province reduced by 20,800 VND/kg to 110,200 VND/kg. The two provinces of Gia Lai and Dak Lak both adjusted trading to 110,000 VND/kg after reducing 21,500 VND/kg. With the above reduction, traders in Dak Nong are buying coffee at a price of 110,200 VND/kg. The European Union (EU) continued to be Vietnam's largest coffee ...

Source: Danviet