Coffee prices today (June 5) on the world market decreased. Of which, the price of robusta coffee was at 2,575 USD/ton after decreasing by 1.15% (equivalent to 30 USD).
Update world coffee prices
According to records, coffee prices on the world market have decreased. Specifically, the online price of robusta coffee in London for delivery in July 2023 was recorded at 2,575 USD/ton after decreasing by 1.15% (equivalent to 30 USD).
The price of Arabica coffee for July 2023 delivery in New York was at 180.30 US cents/pound after decreasing 1.5% (equivalent to 2.75 US cents) at the time of survey at 6:20 a.m. (Vietnam time).
Photo: Anh Thu
In May 2023, Robusta and Arabica coffee prices fluctuated erratically. Robusta coffee futures prices increased; conversely, Arabica coffee prices decreased amid heightened risk concerns, with the possibility that the US Federal Reserve (FED) will continue to raise interest rates at its upcoming monetary policy meeting.
Meanwhile, Arabica coffee output in the 2023/2024 crop year is forecast to increase by 1.47% compared to the 2022-2023 crop year, to 55.16 million bags (including 34.87 million bags of Arabica coffee and 20.29 million bags of Robusta coffee).
On the London Stock Exchange, on May 29, 2023, the price of robusta coffee futures for delivery in July 2023, September 2023, November 2023 and January 2024 increased by 7.0%, 6.1%, 5.0% and 4.1% respectively compared to April 28, 2023, to USD 2,574/ton; USD 2,528/ton; USD 2,469/ton and USD 2,421/ton.
On the New York Stock Exchange, on May 29, 2023, the price of Arabica coffee futures for July 2023, September 2023, December 2023 and March 2024 decreased by 3.5%, 3.2%, 2.9% and 2.7% respectively compared to April 28, 2023, down to 181.6 US cents/lb; 179.55 US cents/lb; 177.65 US cents/lb and 177.5 US cents/lb.
On Brazil's BMF exchange, on May 29, 2023, coffee futures prices for July 2023, September 2023 and December 2023 decreased by 3.6%, 1.2% and 0.9% respectively compared to April 28, 2023, to 225.05 US cents/lb; 222.2 US cents/lb and 223.3 US cents/lb.
In the coming time, Robusta coffee prices are forecasted to increase, Arabica coffee prices will decrease. Robusta coffee supply from Vietnam is expected to decrease by 10-15%/year due to unfavorable weather.
Meanwhile, global demand for robusta coffee remains high for the instant coffee industry, while pressure from the newly harvested arabica crop in Brazil continues to weigh on arabica coffee trading sentiment on the New York futures market.
The US Department of Agriculture (USDA) semi-annual coffee report shows that the output of high-quality wet-processed Arabica coffee in traditional producing countries in the Central and South American region will improve significantly this year.
In addition, the increase in the exchange rate of the Brazilian Real against the USD has helped Brazilian coffee growers increase coffee export sales, putting pressure on Arabica coffee prices, according to the latest report of the Import-Export Department ( Ministry of Industry and Trade ) .
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