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Coffee prices in Vietnam on May 23, 2024: Robusta continues to increase rapidly

Published May 23, 2024

Tridge summary

World coffee prices on May 23, 2024, saw a significant increase on both the London and New York exchanges. Robusta coffee for July 2024 delivery on the London exchange rose by 183 USD to 3,917 USD/ton, while Arabica for the same delivery period on the New York exchange increased to 220.45 cents/lb. This increase is attributed to concerns over crop damage due to excessive drought in Brazil and Vietnam. In contrast, coffee exports from Asia and Oceania have decreased, with Indonesia experiencing a 21.8% decrease, reaching the lowest export levels since the 2018/19 crop year. Meanwhile, Vietnam's domestic coffee market has seen a sharp increase, with prices surpassing 110,000 VND/kg.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

World coffee prices on May 23 In the world, the London and New York exchanges on May 23 continued their strong upward momentum. In particular, the price of Robusta on the London exchange for delivery in July 2024 increased by 183 USD; increased to 3,917 USD/ton. And the September 2024 delivery term increased sharply to 171 USD; at 3,844 USD/ton. On the New York floor, the price of Arabica delivered in July 2024 increased to 3.25 cents; up to 220.45 cents/lb. And the September 2024 delivery term increased by 3.25 cents; at 219.25 cents/lb. World coffee prices today continue to increase, in which Robusta prices increased sharply by nearly 5% to the highest level in the past 3 weeks. In just 2 days, Robusta price increased by more than 400 USD/ton. Concerns that excessive drought in Brazil and Vietnam will damage the crop and limit global output have fueled fund buying and speculation on the exchange. According to experts, this up cycle will still have very strong rising waves for ...
Source: Agriculture
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