Update Coffee Market Price Today on June 2nd, 2023

 UPDATE COFFEE MARKET PRICE TODAY 

on June 2nd, 2023 

At the end of the latest trading session, the price of Robusta coffee in London delivered in July 2023 decreased by 6 USD/ton at 2,556 USD/ton, delivered in September 2023 kept at 2,520 USD/ton. Meanwhile on the New York Stock Exchange, the price of Arabica coffee delivered in July 2023 increased by 1.55 cents/lb, at 178.65 cents/lb, delivered in September 2023 increased by 1 cent/lb, at 175.85 cents/lb.Coffee prices on the London floor decreased slightly, still due to the influence of coffee export estimates in May 2023, Vietnam reached 2.75 million bags, up 17.94% over the same period last year. The above information, along with the move to balance business positions after the recent hot surge, caused funds and speculators to take short-term profits. Meanwhile, Arabica recovered after a series of consecutive declines. The reason is said to be due to the recent weakening of the dollar, plus the decrease in inventories on the New York Stock Exchange.

The warning of short-term supply shortage has not subsided. Standard Arabica inventories on the floor by the end of May 30 have decreased to 592,634 bags of 60 kg, the lowest level recorded since the end of November 2022. In particular, in the daily inventory report, the number of bags waiting for additional sorting remained at zero. Summarizing in May 2023, the price of coffee in Vietnam's domestic market increased by an average of 9,200 VND/kg. On the two exchanges, the price of Robusta coffee delivered in July 2023 increased by 147 USD/ton, the price of Arabica coffee delivered in July 2023 decreased by 7.3 cents/lb.In April 2023, the price of coffee in Vietnam increased by an average of 2,600 - 2,800 VND/kg. On the two exchanges, the price of Robusta coffee delivered in July 2023 increased by 236 USD/ton, the price of Arabica coffee delivered in July 2023 increased by 1.6 cents/lb. Vietnamese coffee continues to have a brilliant month, in the context of scarce supply and Robusta being more popular in the market.

------------ CONTACT INFORMATION: Head office: No. 59, Tran Thi Nghi Street, Ward 7, Go Vap District, Ho Chi Minh City, Vietnam.

Factory 1: No. 132/6, TL 29 Street, Thanh Loc ward, District 12, Ho Chi Minh City, Vietnam Factory 2: No. 60-62, To Vinh Vien Street, Bao Loc City, Lam Dong Province, Vietnam.Contact person: Ms. Windy Ngo Phone/Whatsapp/Wechat/Line/Viber: +84 932 680 925

Email: sales1@vietthien.com