Update Coffee Market Price Today on Nov 6th, 2023

COFFEE MARKET PRICE TODAY ON NOVEMBER 6TH, 2023

At the end of last week's trading session, the price of Robusta coffee in London for delivery in January 2024 increased by 44 USD/ton, at 2,372 USD/ton, for delivery in March 2024 increased by 38 USD/ton, at 2,323 USD/ton. 

On the New York floor, the price of Arabica coffee delivered in December 2023 increased by 5.55 cents/lb, at 170.9 cents/lb, for delivery in March 2024 increased by 5.3 cents/lb, at 169.15 cents. /lb. 

Last week, the price of Robusta coffee in London for delivery in January 2024 decreased by 11 USD/ton; Arabica coffee price for delivery in December 2023 increased by 9.7 cents/lb.

Commenting on coffee prices this week, experts said that both exchanges are in a net buying position. This week there may be a slight adjustment but not significantly. Pressure on new crops from Vietnam continues to increase, while the USD is expected to recover.

In Vietnam at this time, farmers in Dak Lak province are starting to harvest coffee in the 2023 - 2024 crop year. Coffee prices in the province are nearly 1.5 times higher than at the same time in 2022. 

This makes farmers People are excited and expect a good coffee harvest and good prices. Dak Lak province is the coffee capital of the country with nearly 213,000 hectares, this year's output is estimated at 558,600 tons. This year's harvest season is expected to last from November 2023 - January 2024.

This year's high coffee prices have made farmers excited, making efforts to stick to their farms and have a source of reinvestment. However, in recent years, more and more local people have gone to work in the southern provinces and cities, leading to worries about the scarcity of workers for the coffee harvest season in the coming months.

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CONTACT INFORMATION:

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.

Factory 3: Hamlet 9, Long Nguyen Village, Bau bag District, Binh Duong Province, Vietnam.

Contact person: Ms. Windy Ngo Phone/Whatsapp/Wechat/Line/Viber: +84 932 680 925 Email: sales1@vietthien.com