Coffee prices continue to increase, transaction volume is large

Domestic coffee prices continued to exceed the 76,000 VND/kg mark, while the world market increased in both London and New York exchanges.
The trading session just ended on the London floor this morning, robusta coffee prices continued to increase for the third consecutive session, March delivery futures increased by 18 USD to 3,269 USD/ton and May delivery futures increased by 27 USD, to 3,112 USD/ton; July delivery term also increased by 26 USD, reaching 3,000 USD/ton. Notably, prices continuously increased and the volume of goods traded was large.

In the same trend, Arabica coffee prices on the New York floor also increased again after a few sessions of slight decrease. March delivery futures increased 6.9 cents, to 193.85 cents/lb and May delivery futures increased 5.75 cents, to 189.45 cents/lb. The amount of traded goods remains very high.

Since yesterday afternoon, some places in the Central Highlands have reported coffee prices reaching a new mark of 76,000 VND/kg. This morning, after two major trading floors closed, businesses offered coffee prices increased by 500 – 700 VND/kg. The highest is Dak Lak and Dak Nong from 76,000 – 76,200 VND/kg. Gia Lai and Kon Tum provinces from 75,700 – 75,900 VND/kg, Lam Dong 75,500 VND/kg.

In the past week, robusta coffee prices on the London floor had a basic trend of increasing prices with only 1 decreasing session. The total increase last week amounted to 140 USD/ton. According to some experts, the increasing trend of robusta coffee prices in recent times, in addition to the objective factors of supply and demand and tensions in the Red Sea, is also influenced by the large supply in Vietnam preparing for the longest holiday of the year. year. The fact that Vietnam is preparing to enter the extended Lunar New Year holiday also affects the trade activities of this product. Therefore, Western roasters are taking advantage of transactions to offset the above impacts.

Source: thanhnien.vn