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Coffee prices in Vietnam on May 18, 2024, Arabica and Robusta both increased sharply on global exchanges

Published May 18, 2024

Tridge summary

On May 18, 2024, coffee prices surged on both the London and New York exchanges, with Robusta and Arabica prices increasing by nearly 3% and 4.3% respectively. This price hike is attributed to expectations of a Fed interest rate cut, erratic weather conditions threatening coffee production, and a decrease in Vietnam's Robusta exports. Domestically, Vietnam's coffee market experienced an increase, with prices nearing 104,000 VND/kg. The Ministry of Agriculture and Rural Development also forecasts a 20% decrease in Vietnam's coffee output in the 2022/23 crop year, further driving up prices. Despite a temporary decrease in April 2024, the domestic price continued to rise, trading around 103,500 - 104,200 VND/kg.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Coffee prices today May 18 in the world In the world, the London and New York exchanges on May 18 simultaneously increased hotly. In particular, the price of Robusta on the London exchange for delivery in July 2024 increased by 98 USD; increased to 3,518 USD/ton. And the September 2024 delivery term increased sharply by 97 USD; at 3,518 USD/ton. On the New York floor, the price of Arabica delivered in July 2024 increased sharply by 8.7 cents; touching 206.60 cents/lb. And the September 2024 delivery futures increased sharply by 8.5 cents; at 205.45 cents/lb. World coffee prices today increased by nearly 3% on the London exchange and increased strongly by 4.3% on the New York exchange. Expectations that the Fed will cut interest rates in the near future are even higher after the US announced April CPI was lower than expected. This has caused the USD to weaken, creating conditions for coffee prices to recover strongly. On the other hand, erratic weather information also causes ...
Source: Agriculture
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