Specifically, on the morning of April 18, coffee price in Dak Lak was at 117,000 VND/kg, an increase of 2,500 VND compared to the previous day. Coffee price in Lam Dong is 116,400 VND/kg, an increase of 2,400 VND. In Gia Lai, coffee prices are at 116,900 VND/kg, an increase of 2,500 VND/kg. In Dak Nong, coffee price is 117,100 VND/kg, an increase of 2,500 VND.
Many opinions predict that coffee prices may not stop increasing and will reach a higher level.
Previously, on April 16, coffee prices increased sharply with the highest increase of up to 3,500 VND/kg in Lam Dong. By the afternoon of April 17, the domestic coffee price had risen to 117,000 VND/kg, a high that no one expected.
Illustration
On the world market, coffee prices also tend to increase sharply over delivery terms.
The price of Robusta coffee on the London floor on April 18, 2024 at 4:24 a.m. increased rapidly, exceeding 4,000 USD/ton, an increase of 206 – 229 USD/ton compared to the previous trading session, ranging from 3,783 – 4,244 USD/ton. ton.
Specifically, the delivery term in May 2024 is 4,234 USD/ton; Delivery term in July 2024 is 4,195 USD/ton; Delivery term in September 2024 is 4,111 USD/ton and delivery term in November 2024 is 4,000 USD/ton.
Similarly, the price of Arabica coffee on the New York floor on the morning of April 18, 2024 also increased sharply, increasing from 10.95 to 11.95 cents/lb compared to the previous trading session.
Specifically, the delivery term in May 2024 is 247.95 cents/lb; July 2024 delivery period is 240.35 cents/lb; September 2024 delivery period is 238.40 cents/lb and December 2024 delivery period is 236.45 cents/lb.
Thus, Arabica coffee increased to its highest level in the past 1.5 years and Robusta coffee continued to hold the mark of 4,000 USD/ton, a symbolic high mark of all time.
According to experts, world coffee output this year will decrease by about 10-15%. Meanwhile, Vietnam’s output in the 2023-2024 crop year is forecast to decrease by 10%. In addition, tensions in the Red Sea have caused shipping costs and other costs to increase, thereby putting pressure on coffee prices to increase even more.
Prolonged hot weather in Southeast Asia greatly affects the coffee crop, exacerbating the current tight supply situation, prompting coffee processors to increase purchases due to concerns about global supply shortages. bridge.
