Coffee price today June 15: Reaching 65,000 VND/kg

Coffee prices today (June 15) in the domestic market increased by 100 VND/kg. Accordingly, the highest transaction price in the localities reached 65,000 VND/kg, continuing to be recorded in Dak Nong province.

Update domestic coffee prices

According to a survey at giacaphe.com at 9:45, today's coffee price increased by 100 VND/kg.

According to records, localities are purchasing coffee at prices ranging from 64,300 - 65,000 VND/kg.

Of which, Lam Dong province has the lowest price of 64,300 VND/kg. Next is Gia Lai province with the price of 64,500 VND/kg.

At the same time of survey, Dak Lak province had a purchase price of 64,900 VND/kg.

Dak Nong recorded a transaction price of 65,000 VND/kg. This is the highest transaction price among the surveyed localities.

Market	Medium	Change
Dak Lak	64,900	+100
Lam Dong	64,300	+100
Gia Lai	64,500	+100
Dak Nong	65,000	+100
USD/VND exchange rate	23,300	-20

Unit: VND/kg

Exchange rate according to Vietcombank

Coffee price developments from January to June 15. (Synthesis: *Anh Thu* )

Update world coffee prices

According to records, coffee prices on the world market increased. Specifically, the online price of robusta coffee in London for delivery in July 2023 was recorded at 2,725 USD/ton after increasing by 0.44% (equivalent to 12 USD).

The price of Arabica coffee for July 2023 delivery in New York was at 184.4 US cents/pound after increasing 0.9% (equivalent to 1.65 US cents) at the time of survey at 6:45 a.m. (Vietnam time).

Brazil shipped 2.1 million 60-kg bags of green coffee in May, down 20.4% from a year earlier, hampered by harvest delays, exporters association Cecafe said on June 13.

Marcio Ferreira, President of Cecafe, said that the delayed Brazilian coffee harvest and low supplies from previous crops have resulted in fewer export shipments in May.

The coffee harvest in late May is expected to reach nearly 20 percent of the total forecast for the current crop, about 10 percentage points lower than the five-year average for this period, Ferreira said.

“This, coupled with the small amount of coffee remaining after smaller harvests in 2021 and 2022, significantly impacted by adverse weather conditions… has hampered lower export performance than currently,” he said.

Brazil's robusta coffee exports reached 131,689 bags in May, flat from a year earlier, while arabica green coffee exports fell 21.4% to 1.99 million bags from May 2022.

Brazilian robusta coffee is reaching a price gap close to that of Vietnam, which could boost the international market for this type of coffee, Mr. Ferreira added.

“With more attractive spreads, demand for this grade is increasing, which will accelerate delivery volumes starting in June,” he said, according to Nasdaq.

Source