10/5/2020 – Coffee prices today: fluctuated between 31,100 – 31,900 VND / kg. Generally last week, the price of coffee in the Central Highlands fell, on average, 500 – 800 VND / kg.
10/5/2020 – Coffee prices today: In Cu M’gar district (Dak Lak), the price of coffee today is 31,900 VND / kg. In Ea H’leo district (Dak Lak), Buon Ho (Dak Lak), today coffee prices are purchased at 31,700 VND / kg.Similarly in Dak Nong province, coffee prices today purchased at 31,500 VND / kg in Gia Nghia and Dak R’lap).
In Gia Lai province, the price of coffee today is 31,500 VND / kg (Chu Prong), in Pleiku and La Grai the same price is 31,400 VND / kg. Today, coffee prices in Kon Tum province are purchased at 31,400 VND / kg.
Summing up last week, the prices of coffee in localities decreased. In Lam Dong province, the price on the first day of the week fluctuated from 31,800 to 31,900 dong / kg, the last session of the week decreased from 600 to 800 dong / kg, down to 31,100 – 31,200 dong / kg. This is also a similar decrease in Dak Lak.
The other Central Highlands provinces of Gia Lai, Kon Tum and Dak Nong had a smaller decrease, from 500-600 VND / kg.
At the end of last week’s trading session, Robusta coffee price in London increased by 2 USD / ton (0.16%) for delivery in November 2020, traded at 1,290 USD / ton, delivered in March 2021 decreased by 4 USD at a level. 1,327. Meanwhile in the New York floor in the US, Arabica coffee prices delivered in December 2020 increased 1.9 cents / lb (1.77%) to 108.95 cents / lb, delivered in March 2021 increased 1.75 cents. / lb (1.6%) to 110.95 cents / lb.
Thus, the world coffee price also had a deep decrease week, from 1,327 USD / ton on the first day of the week with Robusta coffee delivered in November 2020 to 1,290 USD / ton at the end of the week.
Currently, many major economies of the world have an outbreak of Covid-19. The EU is the market with the largest coffee consumption in the world, but many countries in this bloc have re-established social differences affecting the amount of coffee consumed in this market. In addition, the coffee futures markets lacked investors and concerns over supply.
Meanwhile, forecasting weather phenomenon La Nina appears will bring more rain for coffee producing countries on the Pacific Rim. If this happens it will indeed be a concern for a new harvest in Vietnam, as input costs will increase.
Besides, last week, there was a lot of speculation that there would be unpredictable fluctuations that the US President and his wife confirmed positive for Covid-19. However, the reality did not go as bad as it was concerned.