Coffee price on 11/20/2023: Approaching VND 59,000/kg

Coffee prices on 11/20 in the world

Around the world, the London and New York exchange prices on November 20 simultaneously moved sideways.

In particular, the price of Robusta on the London exchange for delivery in November 2023 decreased by $ 45; down to $ 2,521/ton. And the January 2024 delivery term on this exchange decreased by $ 35; at $ 2,449/ton.

On the New York exchange, the price of Arabica delivered in December 2023 decreased by another 5.15 cents; down to 170.95 cents/lb. The March 2024 delivery term price decreased by 4.55 cents; to 166.65 cents/lb.

World coffee prices today have no new fluctuations. Last week, the international market price fluctuated in opposite directions as it increased sharply on the London exchange but fell sharply on the New York exchange. 

Specifically, the price of Robusta delivered in January 2024 increased by $ 100/ton; Arabica’s price for delivery in December 2023 decreased by 3.55 cents/lb. 

Concerns about supply shortages and a weakening USD have supported this agricultural product’s good weekly increase in price, despite Vietnam’s new crop coming to the market. However, Vietnam has been facing depleted supplies since the beginning of the fourth quarter of the 2022/23 coffee crop year, when inventories were reported to be low.

Coffee output shrinks, and backlog inventory transferred to new crops is at its lowest over the years. Last season’s ending inventory in September 2022 was estimated at about 160,000 tons, while in September 2023, backlog inventory transferred to the new crop of 2023 – 2024 only reached 58,000 tons.

According to predictions, the 2023/24 coffee crop production will decrease by 10%. Due to the impact of climate change, the area of intercropping increases, and farmers will invest in crops with high economic efficiency such as durian and fruit trees. With the above data, the medium and long-term growth momentum of coffee is quite clear. 

According to experts’ comments this week, overbought is the business position of the two exchanges. Speculation increased buying early last week when there was information that hot weather in Brazil would affect coffee productivity next year. 

However, when growing areas in this country had rain, speculators returned to selling goods, leading to a sharp drop in coffee prices on both exchanges at the end of the week. Therefore, the upward momentum of coffee this week is unclear and continues to depend heavily on developments in the USD price rate.                 

Thus, world coffee prices on 11/20/2023 are unchanged compared to yesterday.     

Coffee prices on 11/20 in the country          

The domestic market price on November 20 remained stable compared to yesterday.       

Specifically, in Lam Dong province, 3 districts of Di Linh, Bao Loc and Lam Ha are trading at the same price level of VND 58,100/kg.

In Dak Lak, Cu M’gar district today is purchasing at VND 58,800/kg. Ea H’leo and Buon Ho districts are trading at a price of VND 58,700/kg.

In Dak Nong province, traders Gia Nghia and Dak R’lap are trading at VND 58,500 and VND 58,400/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 58,500/kg, while Pleiku and La Grai are maintaining the same price at VND 58,400/kg.

The purchasing price in Kon Tum today is VND 58,500/kg.

Domestic coffee prices today remain stable, with the highest price level approaching VND 60,000/kg.

Thus, the domestic coffee price on 11/20/2023 is trading around the threshold of VND 58,100 – 58,800/kg.

$ 1 = VND 23.975 – Source: Vietcombank