| Coffee prices continue to "escalate", what scenario will happen in the near future? Export coffee prices increase when supply from Vietnam is forecast to decrease by 20% |
In just the first 2 days of the week, coffee prices on the robusta coffee market in London increased to 107 USD/ton and are currently reaching 3.465 USD/ton for May delivery, November delivery also reached 5 USD. USD/ton. Along with that is the large volume of commodity transactions.
Similarly, Arabic coffee products on the New York floor also increased sharply in all terms. Specifically, May delivery futures increased by 5 USD to 52,8 USD/ton. The remaining terms also increased by an average of 4.143 USD/ton...
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| Coffee prices broke records and are approaching the 100.000 VND/kg mark |
Rising world coffee prices have supported the domestic coffee market. Accordingly, coffee prices in the Central Highlands provinces are currently at extremely high levels, of which Dak Nong is 98.300 VND/kg, Dak Lak is 98.200 VND/kg, Gia Lai is 98.000 VND/kg and Lam Dong is 97.900 VND/kg.
Many forecasts say that the price of Central Highlands coffee could reach and exceed the 100.000 VND/kg mark this week. This will be a historic week for the world coffee market.
Faced with the increasing trend of coffee prices, many businesses said they are in a difficult situation. The reason is that many coffee growers did not deliver to the agents whose prices they had previously fixed. Because agents do not have goods from farmers, they do not deliver goods to exporters, pushing export business into chaos...
Mr. Nguyen Ngoc Luan, CEO of Global Trade Link Company Limited (Meet More) - shared that coffee prices are increasing too high and abnormally. The business itself did not predict the current hot growth rate, leading to production difficulties because previously signed export orders with customers now have to pay high prices to have goods delivered to customers.
“Since Tet until now we are selling at a loss”– Mr. Luan said and informed that this business can currently only buy raw materials in small drops to complete orders, and at the same time refuses to accept large orders because receiving more will cause more losses.
According to Mr. Phan Minh Thong, Chairman of Phuc Sinh Group, domestic coffee prices continue to increase daily and are sold in small drops, with companies buying goods to deliver to signed contracts at unprecedented losses. The price loss is tens of millions of dong per ton, but the coffee contract is hundreds to thousands of tons. Mr. Thong affirmed that the amount of loss is difficult to imagine and the damage is extremely large.
