Coffee prices today, 7/7, range from 34,600 to 35,500 VND/kg. Arabica prices fell sharply when the New York market returned after the US Independence Day holiday.
Coffee prices today, 7/7: Farmers dump goods, causing Arabica to plummet
In Di Linh, Lam Ha, and Bao Loc districts (Lam Dong), coffee prices today were purchased at 34,600 VND/kg.
In Cu M'gar district (Dak Lak), coffee prices today were at 35,500 VND/kg. In Ea H'leo district (Dak Lak), Buon Ho (Dak Lak), coffee prices today were purchased at the same level of 35,400 VND/kg.
Similarly, in Dak Nong province, today's coffee purchase price is at 35,400 VND/kg in Gia Nghia and 35,300 VND/kg in Dak R'lap.
In Gia Lai province, today's coffee price is at 35,400 VND/kg (Chu Prong); in Pleiku and La Grai, the same price is 35,500 VND/kg. Meanwhile, today's coffee price in Kon Tum province is purchased at 35,400 VND/kg. This morning, coffee prices in key growing areas continued to decline compared to the same time yesterday morning.
At the end of the most recent trading session, the price of Robusta coffee in London for September 2021 delivery decreased by 8 USD/ton to 1,679 USD/ton, and for November 2021 delivery decreased by 5 USD/ton to 1,678 USD/ton. Meanwhile, on the New York floor, the price of Arabica coffee for September 2021 delivery decreased by 4.95 cents/lb to 148.1 cents/lb, and for December 2021 delivery decreased by 4.85 cents/lb to 151.1 cents/lb.
The New York market returned after the US Independence Day holiday, and Arabica prices fell sharply. The main reason was that the Real (Brazil) in the exchange rate pair against the USD fell sharply, causing farmers in this country to sell heavily. In addition, the political situation in Brazil is currently unstable. The Brazilian government reported that green coffee exports in June 2021 reached 2,903,983 bags, an increase of 544,700 bags, or 23.09% over the same period last year. Experts said that the market is in the process of adjustment after overcoming the cold spell, and there are still many potential risks in the coming time.
For Robusta, the market is showing signs of being technically overbought after the recent sharp rise. Sucden Financial forecasts a decline in the coming period after failing to overcome the resistance level of $1,737.
Currently, Colombian coffee has started to be exported from the port, but in return, the Covid-19 outbreak in Southeast Asian countries is making the market more concerned about supply.
According to Kinhtedothi.vn