Coffee price today 20/12: Reduce shock to the bottom of 31,500 VND / kg
(Vietnamdaily) - Coffee prices today in the Central Highlands continued to decrease by 700 VND / kg, ranging from 31,500 to 31,800 VND / kg. In particular, the price of coffee in Lam Dong province is the lowest and highest in Kon Tum and Dak Lak.
Coffee prices today 20/12 in the Central Highlands plummeted 700 VND / kg ranged from 31,500 to 31,800 VND / kg. In particular, the price of coffee in Lam Dong province is the lowest and highest in Dak Lak, Dak Nong and Gia Lai, according to giacaphe.com.
Coffee prices at warehouses around the port of Ho Chi Minh City decreased 98 USD / ton to 1,377 USD / ton
Ending the session, the price of Robusta coffee on ICE Europe - London reversed. Delivery for immediate delivery in January decreased US $ 22, to US $ 1,384 / ton and delivery for March delivery decreased US $ 7, to US $ 1,409 / ton, the reduction is quite strong. Trading volume above average.
Similarly, Arabica coffee price on ICE US - New York floor decreased. March spot futures fell 0.5 cent / lb, down to 133.20 cents / lb and May futures fell 0.45 cents / lb, down to 135.40 cents / lb, sharp declines. Very high trading volume on average.
According to the ICO coffee market report in November, global coffee exports in October reached 8.91 million bags, the lowest level since September 2017.
This figure represents a decrease of 13.4% compared to the same period in 2018 and 2.4% compared to the same period in 2017. The volume of robusta coffee exports in the world decreased by 21.6% to 2.82 million bags and arabica coffee dropped 9% to 6.08 million bags, according to the ICO.
Coffee production from Saudi Arabia witnessed the largest decline, down 23.2% to 1.33 million bags while export volume from Brazil fell 9.5% to 3.44 million bags.
In contrast, exports from Colombia increased by 13.5% to 1.31 million bags over the same period last year. The depreciation of the Colombian currency against the US dollar for much of 2019 could be a contributing factor to the increase in shipments from Colombia.
Coffee exports from South America amounted to 5.29 million bags in October, led by 3.42 million bags from Brazil. Export from Brazil, accounting for 38.4% of the region's total coffee exports, down 12.9% from October 2018 due to the narrowing of the 2019-2020 crop.