Coffee prices on 11/21/2023: Price fluctuates oppositely

Coffee prices on 11/21 in the world

Around the world, the London and New York exchange prices on November 21 simultaneously fluctuated sideways.

In particular, the price of Robusta on the London exchange for delivery in November 2023 decreased slightly by $ 16; down to about $ 2,505/ton. And the January 2024 delivery term price on this exchange decreased by $ 12; down to $ 2,437/ton.

On the New York exchange, the price of Arabica delivered in December 2023 increased sharply by 4.5 cents; to 171.15 cents/lb. And the March 2024 delivery term price increased by 3.85 cents; at 170.40 cents/lb.

World coffee prices today increased slightly on the London exchange but increased sharply on the New York exchange.

The decline of the USD to its lowest level over the last 2 months and the lack of rain information in Brazil helped Arabica prices increase sharply in the first session of this week. 

As of the time of the survey, the DXY index measuring greenback fluctuations with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) remained at 103.36. 

Meanwhile, Robusta prices turned down again after the London exchange was entering the overbought zone, and under pressure from Vietnam’s new crop. Currently, localities in Vietnam are harvesting coffee crops.

Thus, world coffee prices on 11/21/2023 fluctuated in opposite directions compared to yesterday.

Coffee prices on 11/21 in the country

The domestic market on November 21 decreased by VND 500 compared to yesterday.

Specifically, in Lam Dong province, 3 districts of Di Linh, Bao Loc and Lam Ha are trading at the same level of VND 57,600/kg.

In Dak Lak, Cu M’gar district today is purchasing at VND 58,30/kg. Ea H’leo and Buon Ho districts are trading at a price of VND 58,200/kg.

In Dak Nong province, traders in Gia Nghia and Dak R’lap are trading at VND 58,000 and VND 57,900/kg, respectively.

In Gia Lai province, Chu Prong district is trading at VND 58,000/kg, while Pleiku and La Grai are maintaining the same price at VND 57,900/kg.

Domestic coffee prices today decreased and are at risk of falling below the threshold of VND 58,000/kg.

Thus, the domestic coffee price on 11/21/2023 is trading around the threshold of VND 57,600 – 58,300/kg.

Technical support and linking sustainable coffee production and consumption

On November 17, the National Agricultural Extension Center in collaboration with the Department of Agriculture and Rural Development of Gia Lai province organized a workshop “Community Agricultural Extension in the development of coffee raw material areas in the Central Highlands”.

After nearly 2 years of pilot implementation, the Project “Improving the Effectiveness of Agricultural Extension Activities Based on Perfecting the Community Agricultural Extension Group Model” has reaped certain results.

Accordingly, the pilot project has been implemented in 13 provinces in 5 raw material areas, resulting in the building of 26 community agricultural extension groups. In addition, the provinces have established community agricultural extension groups to serve the raw material area project.

The community agricultural extension team has coordinated with businesses inside and outside the province to link coffee product consumption in 4 Central Highlands provinces.

Among them, 2 pilot community agricultural extension groups in Gia Lai have signed a principal contract with Vinh Hiep Co., Ltd. to organize training classes and technical guidance on sustainable coffee production and labour safety for coffee growers.

In Kon Tum, 2 community agricultural extension groups signed an association contract with Vinh Hiep Co., Ltd. and a memorandum of cooperation agreement with 373 farmer households in the production and off-take of nearly 2,000 tons of 4C green coffee. In addition, Vinh Hiep Co., Ltd. has supported the implementation of 50 training classes on sustainable coffee production, and coordinated assessments to issue 4C certification to households. To date, community agricultural extension groups have supported Vinh Hiep Co., Ltd. in expanding nearly 570 ha of coffee material areas meeting 4C standards.

In Dak Lak, two pilot community agricultural extension groups have signed a coffee product consumption partnership with Vinh Hiep Co., Ltd. At the same time, the company also supports training and technical guidance for coffee producers. In Dak Nong, two pilot community agricultural extension groups have signed a memorandum of agreement with two companies on purchasing coffee products.

​$ 1 = VND 23.900 – Source: Vietcombank

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