COFFEE PRICE TODAY on March 28, 2024- Vietnamese raw coffee prices soared to the historic mark of 100,000 VND/kg

COFFEE PRICE TODAY ON MARCH 28, 2024- Vietnamese raw coffee prices soared to the historic mark of 100,000 VND/kg

Vietnamese raw coffee prices soared to the historic mark of 100,000 VND/kg. Meanwhile, markets from London to New York and Brazil also had 3 consecutive strong price increases in recent days.

Vietnam raw robusta coffee prices increased for the 4th consecutive day, today's selling price set a record at 100,000 VND/KG, equivalent to 4,166 USD/TON, up 110% over the same period last year.

Faced with the increasing trend of coffee prices, many businesses said they are in a difficult situation. The reason is that many coffee growers did not deliver to the agents whose prices they had previously fixed. Because agents do not have goods from farmers, they do not deliver goods to exporters, pushing export business into chaos...

The London exchange opened the third session with an impressive increase of 33 USD/ton, May delivery term. Many people watching were quite shocked when about 2 hours later the coffee price jumped to 130 USD/ton. After that, the increase around the 100 USD mark extended until near the end of the session and closed at 94 USD/ton. Coffee prices on the London floor continue to record a new historical milestone of 3,559 USD/ton. Thus, in just the past 3 days, coffee prices have increased to 201 USD/ton. Large volume of traded goods.

July delivery also increased to 92 USD, reaching 3,467 USD/ton. September futures increased by 83 USD to reach 3,385 USD/ton and November futures increased by 70 USD to reach 3,295 USD/ton.

Arabica coffee on the New York floor is equally impressive. The May delivery term had the highest increase up to 97.9 USD/ton; closing session increased by 57.2 USD/ton, reaching 4,200 USD/ton. July and September terms increased to 58.3 USD/ton. The volume of traded goods is very large. 

The Brazilian market increased even more strongly, the highest increase was 93.5 USD/ton; By the time the May delivery term closed, it increased by 75.9 USD/ton, reaching 5,180 USD/ton. The July delivery term increased more strongly, to 77 USD/ton.

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