According to the Vietnam Commodity Exchange (MXV), closing the February 21 trading session, the prices of two coffee products , Arabica and Robusta, increased nearly 1% compared to the reference. Supply gradually improved but not enough to put pressure on prices.

In the closing report on February 20, the total amount of certified Arabica at the ICE-US Department remained at more than 307,260 bags, far from the lowest level in the past 24 years. Furthermore, the number of coffee bags waiting for certification on ICE-US increased by 43,025 bags, to 108,742 bags. Additional sources mainly come from Brazil with recent positive export data and new crop supply prospects.

The prices of two coffee products, Arabica and Robusta, increased nearly 1% compared to the reference

The Center for Advanced Research in Applied Economics (Cepea) said that more rain in Brazil's main coffee producing regions has created favorable conditions for the growth of 24/25 coffee crops. Along with that, Cooxupe Cooperative expects production in Minas Gerais to reach 5.5 million bags, exceeding 5.3 million bags in the previous crop year.

With Robusta, ICE-EU department data continuously shows inventory at record low levels. This supported price momentum yesterday, despite positive export data from Vietnam in January. In the closing report on February 19, the amount of Robusta stored on the ICE-EU Department was only 19,600 tons, decreased by 200 tons compared to the previous session.

On the domestic market, recorded this morning (February 22), the price of green coffee in the Central Highlands and Southern provinces increased by 300 VND/kg. Accordingly, domestic coffee is currently purchased around 81,900 - 82,500 VND/kg.

According to the latest data from the General Department of Customs, Vietnam's coffee exports in January 2024 reached 238,266 tons, up 14.8% compared to December 2023 and up 67.4% compared to January 2023. .

The first half of February 2024 is the time when supply from Vietnam slowed down due to the extended Lunar New Year holiday. Therefore, export purchasing power increases sharply at this time to meet orders in the first quarter of 2024.

Robusta coffee prices remain concerned about supply from main producing countries in Asia. On February 20, data reported by the London exchange showed that inventory levels continued to decline to a record low of 19,600 tons (about 326,667 bags, 60 kg bags), a low since 2014.

Coffee export turnover in January 2024 reached 726.60 million USD, up 21.2% compared to December 2203 and up 133.7% compared to January 2023.

The average export coffee price in January 2024 reached 3,050 USD/ton, up 5.6% compared to December 2023 and up 39.6% compared to January 2023.

Coffee export turnover in January 2024 reached 726.60 million USD, up 21.2% compared to December 2203 and up 133.7% compared to January 2023.

The average export coffee price in 2023 will reach 2,614 USD/ton, an increase of 14.5% compared to 2022. Currently, coffee export businesses in the Central Highlands and domestically said that orders are full in the first quarter. /2024.

In the first 11 months of 2023, the US imported coffee from 106 countries and territories around the world. In particular, the main coffee suppliers to the US include: Brazil, Colombia, Vietnam, Honduras, Guatemala. In the first 11 months of 2023, the US imported coffee from Brazil reaching 315.23 thousand tons, worth nearly 1.25 billion USD, down 26.4% in volume and down 32.3% in value compared to the same period in 2022. .

Brazil's coffee market share in total US imports decreased from 28.48% in 11 months of 2022 to 24.29% in 11 months of 2023.

In contrast, the US increased coffee imports from Vietnam in the first 11 months of 2023, an increase of 4.5% in volume and an increase of 8.4% in value compared to the same period in 2022, reaching over 139 thousand tons, worth 335.81 million USD.

Vietnam's coffee market share in total US imports increases from 8.85% in 11 months of 2022 to 10.71% in 11 months of 2023.