The price of domestic coffee simultaneously increased by 1,500 VND to 125,000–126,500 VND/kg. Experts said that difficulties in the key coffee-growing regions of Brazil, Colombia, and Vietnam are causing the increase in coffee prices, and there are few signs of improvement.

According to yesterday’s trading session, coffee prices in the world market fluctuated in opposite directions. Specifically, the online price of Robusta coffee in London delivered in July 2024 was 4,471 USD per ton after an increase of 3.21%. The other terms all increased.

The price of Arabica coffee delivered in July 2024 in New York was 231.95 US cents per pound after falling 0.83%.

In many localities of Vietnam, coffee prices continued to increase by 1,500 VND/kg.

In Vietnam, coffee prices continued to increase by 1,500 VND/kg.

Robusta coffee has increased sharply to a two-and-a-half-month high, while Arabica is at a 14-month low. The price of Robusta continues to go up because of concerns that Vietnam’s excessive drought is unlikely to improve. The widening price gap has reflected the increased use of Robusta coffee in the markets.

Supply in Vietnam, the leading producer of Robusta coffee, remains scarce. Traders are closely watching the weather to see if the next crop improves. Vietnam’s annual Robusta coffee production in 2024/25 is estimated at 24 million bags, the lowest level in 13 years, due to unfavorable weather.

The winter in Brazil starts on June 21, which could affect the coffee supply. Robusta coffee exports from Brazil are huge, while Robusta inventories are increasing. The USDA forecasts a 2.4% increase in Brazil’s exports compared to the previous crop.

Colombia produced 1.12 million bags of processed Arabica coffee (60 kg per bag) in May 2024, an increase of 39% compared to 806,000 bags produced in May 2023. Colombia’s exports last month reached 933,000 bags, up 10% from the 846,000 bags exported a year earlier.