News

Coffee prices in Vietnam on April 20, 2024: Market recovers slightly

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

Tridge summary

On April 20, 2024, global coffee prices experienced a slight increase, with both Robusta and Arabica futures showing marginal gains. This follows a significant price drop the previous day. The International Coffee Organization forecasts a 5.8% increase in global coffee production for the 2023/24 crop year, reaching 178 million bags and anticipating a consumption rise of 2.2% to 177 million bags, leading to a surplus of 1 million bags. Despite this, Vietnam, a key coffee producer, is facing challenges that include a 10% decrease in production due to adverse weather and a shift in farming priorities towards crops like durian and passion fruit. This shift, along with low inventories from previous seasons, is affecting domestic coffee prices and could potentially lead to a supply shortage, despite the global surplus forecast.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Coffee prices today April 20 in the world In the world, the London and New York exchanges on April 20 simultaneously increased slightly. In particular, the price of Robusta on the London exchange for delivery in May 2024 increased by 2 USD; reached 4,083 USD/ton. And the July 2024 delivery term increased slightly by 18 USD; at the threshold of 4,080 USD/ton. On the New York floor, the price of Arabica delivered in May 2024 increased slightly by 1.55 cents; to 241.40 cents/lb. And the term for delivery in July 2024 increased by 0.75 cents; at 231.85 cents/lb. Coffee prices today April 20, 2024 in the world inched back slightly after yesterday's sharp drop. ICO forecasts that global coffee production in the 2023/24 crop year will increase by 5.8% compared to the previous crop year to 178 million bags. Consumption is expected to increase by 2.2% to 177 million bags, this agricultural market will have a surplus of 1 million bags in the 2023/24 crop year. In March, Rabobank ...
Source: Agriculture
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