Coffee prices today (June 4) fluctuated between 60,700 - 61,300 VND/kg. Over the past 6 days, the coffee market has been on an upward trend. At the end of the week, localities recorded an increase of 100 - 200 VND/kg compared to the beginning of the week.
Update domestic coffee prices
Coffee prices generally increased last week. Compared to the beginning of the week, provinces and cities recorded increases of about 100 - 200 VND/kg.
In particular, Lam Dong province recorded a transaction price of 60,700 VND/kg - the lowest level at the present time, an increase of 200 VND/kg.
Next, Kon Tum and Gia Lai provinces recorded a transaction price of 61,000 VND/kg, an increase of 200 VND/kg.
Dak Lak province is buying coffee at VND61,200/kg at the weekend after increasing by VND100/kg.
Dak Nong's purchase price is 61,300 VND/kg, an increase of 200 VND/kg.
Coffee price fluctuations last week. Unit: VND/kg. Compiled by: Anh Thu
Update world coffee information
While coffee and tea are lower priced items this year than they were in 2022, consumers shouldn't expect to start paying less at the grocery store or coffee shop anytime soon.
Commodity prices are just one of many factors that influence the final retail price of hot drinks, and even if coffee and tea prices at the point of production fall significantly, the broader environment makes it more likely that retail prices will remain much higher than they have been historically.
Coffee prices are likely to rise faster than overall grocery inflation in 2022 thanks to rising commodity-level coffee prices, particularly due to a poor harvest in Brazil.
At the retail level, this means that standard beans and ground coffee tend to have the highest price appreciation because they contain the most coffee. Conversely, coffee beans tend to have the most stable prices because they are sold at a much higher price and coffee is an input that accounts for a smaller portion of retail costs.
Coffee production prospects have improved through 2023 barring any unforeseen weather-related disruptions and falling commodity prices, according to Euromonitor International.
The combination of value-based pricing strategies, persistently high prices for other inputs, the role of long-term supply contracts, and other factors means that consumers are unlikely to notice. Instead, they will continue to try to save money by spending less at restaurants, shopping at discount retail channels, and engaging in other forms of value-seeking behavior to cope with high prices.
Source
Comment (0)