Statistics from the Vietnam Commodity Exchange (MXV) show that, at the end of the last trading week of 2023, Arabica prices decreased by 2.33% while Robusta prices inched up slightly by 0.14% compared to the reference. Inventories of standard Arabica on the ICE-US Department continue to recover, and the weather in Brazil improves, causing concerns about supply shortages in the market to somewhat ease. However, rumors that Vietnam is restricting exports through estimates of the amount of goods shipped in 2023 help Robusta prices improve.

Coffee prices decreased slightly

Inventories of standard Arabica last week increased by 3,312 bags of 60kg, to 251,224 bags. Although the increase is not very impressive, this is a good signal about inventory data in particular and coffee supply in general.

In addition, concerns about heat risks in Brazil have been averted as temperatures cooled thanks to above-average rainfall in Brazil's main coffee growing region. This helps coffee trees have better growing conditions, thereby maintaining a positive outlook for the country's 2024/24 coffee supply.

Meanwhile, the General Statistics Office estimates that in 2023, Vietnam's coffee export volume will be 9.6% lower than in 2022. Production decreased because of El Nino, farmers changing crops, causing export volume to decrease. less password.

Prices of two sugar products have had opposite movements in the past week. Closing, the price of sugar 11 decreased by 0.19% while the price of white sugar increased by 1.02% compared to the reference. Weakening crude oil prices increase positive signals about the outlook for sugar supply in the 2023/24 crop year in Brazil.

Specifically, falling oil prices prompted sugarcane crushing factories in Brazil to prioritize sugarcane crushing for sugar production instead of ethanol extraction. More abundant input materials will create momentum for sugar output to increase and drive prices to record highs as experts have predicted.

Robusta coffee price inched up slightly by 0.14%

On the domestic market, recorded this morning (January 2): The average coffee price in the Central Highlands provinces is about 68,200 VND/kg, the highest buying price in Dak Lak and Dak Nong provinces is 68,400 VND/kg.

Specifically, the price of coffee purchased in Gia Lai and Kon Tum provinces is quite high at 68,300 VND/kg; In Dak Nong province, coffee is purchased at the highest price of 68,400 VND/kg.

Price of green coffee beans (green coffee, fresh green coffee) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at a price of 67,500 VND/kg.

According to data from the General Statistics Office, Vietnam's coffee exports in December 2023 continued to increase strongly and reached the highest level in the past 9 months, reaching 190,000 tons, an increase of 59.3% compared to November 2023. , but still down slightly by 3.5% over the same period last year. Export turnover reached 538 million USD, up 51% compared to November 2023 and up 26.4% over the same period last year.

For the whole year 2023, Vietnam's coffee exports are estimated to reach 1.61 million tons, down 9.6% compared to 2022. However, due to a sharp increase in export prices, turnover still increased by 3.1 %, reaching a new record high of 4.18 billion USD.

The average export coffee price in December 2023 reached 2,834 USD/ton, down 5.2% over the previous month and up 31.1% over the same period last year. Cumulatively in 2023, the average export coffee price will reach 2,604 USD/ton, an increase of 14.1% compared to 2022.

The Vietnam Coffee - Cocoa Association (Vicofa) said it is expected that coffee output in the 2023 - 2024 crop year will decrease by 10% compared to the previous crop year due to the impact of climate change, increased intercropping area, and farmers. People will invest in crops with high economic efficiency such as durian and fruit trees. Currently, the area of coffee intercropped with other crops accounts for about 26% of the total area, equivalent to 187,000 hectares.