The General Department of Vietnam Customs reported preliminary data that coffee exports in the first 4,5 months of 2023 reached 778.986 tons (about 12,98 million bags), down 2,53% year-on-year. , continued to contribute to maintaining London coffee futures prices at sky-high levels.
Coffee price today June 22, 5
World coffee prices last week increased strongly on both London and New York bourses. As of Friday, May 19, robusta coffee inventories certified and tracked by ICE - London have increased by 5 tons, or 1.900% compared to a week earlier, to registered at the level. 2,35 tons (equivalent to 82.810 bags, 1.380.167 kg bags).
For the whole week, the price of Robusta coffee has experienced 4 increasing sessions and 1 decreasing session, the declines are very strong. The price of robusta coffee for immediate delivery in July increased by all 7 USD, or 156%, to 6,41 USD/ton. Trading volume remains above average.
Meanwhile, the price of arabica coffee had 3 increasing sessions and 4 decreasing sessions, with strong gains. The price of arabica coffee for July delivery increased all 7 Cents, or 9,15%, to 5,00 Cent/lb. Trading volume remained very high above average.
Domestic coffee price in the past 6 days, increased in the range of 3.900 - 4.000 VND/kg compared to the beginning of the week. Transactions ranged from 58.800 to 59.300 VND/kg.
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| Coffee prices in the country sharply increased by 1.700 - 1.800 VND/kg in some key purchasing localities in the closing session last week (May 20). (Source: Doanhnhan.biz) |
Ending the last session of the week on the international floor (May 19), the price of robusta coffee on the ICE Futures Europe London floor increased sharply. Robusta coffee price for delivery in July 5 increased by 7 USD, trading at 2023 USD/ton. September delivery term increased by 48 USD, traded at 2.588 USD/ton. Trading volume above average.
The price of arabica coffee on ICE Futures US New York also increased sharply. Futures for delivery in July 7 increased by 2023 Cent, trading at 5,35 Cent/lb. Meanwhile, the term for delivery in September 186,65 increased by 9 Cent, to 2023 Cent/lb. Average trading volume is high.
Coffee market information
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Coffee prices in the country sharply increased by 1.700 - 1.800 VND/kg in some key purchasing localities in the closing session last week (May 20).
Unit: VND/kg. (Source: Giacaphe.com) |
The dollar has gained in a row on the back of stable US macro data, which has forced the market to re-evaluate expectations of interest rate hikes by the US Federal Reserve (Fed). The USDX index added 1,5% in value, making most general commodity prices even more expensive.
Along with the decline in exports from Vietnam's supply, in March, coffee exports of South America also decreased by 3% to only 17,3 million bags. Mainly because the total exports of the three main sources of supply in the region, Brazil, Colombia and Peru, fell by 4,1%.
In which, coffee exports of Brazil and Colombia witnessed a decline of 14,3% and 19,2%, reaching 3,1 million bags and 0,9 million bags respectively, corresponding to the fourth negative month of growth. of Brazil and the ninth in a row for Colombia.
The Brazilian Coffee Exporters Association (Cecafé) attributed the off-season harvest and lower output in two consecutive seasons of 2020-2021 and 2021-2022 as the main reasons for the decline in Brazil's exports. . In Colombia, supplies continued to be affected by adverse weather, with production falling 10% in March.
Meanwhile, Peru's coffee exports in March continued to decline sharply by 3% over the same period last year. Adverse weather and political instability in the main production areas have greatly affected the country's export supply.
In addition, the decline in exports is also explained by the high base level of the same period last year, when there were 4,6 million bags of coffee of all kinds were exported by Peru, corresponding to a large export volume. second in the country's history, behind only 4,7 million bags in the 2011-2012 season and up 44,8% from the 2020-2021 crop.
