Coffee price on June 22 slipped below 100,000 VND/kg

(GLO)- Coffee prices in the Central Highlands continued to record a significant decrease on June 22, falling below the 100,000 VND/kg mark, with an average purchase price of 95,000-96,000 VND/kg. Pepper prices remained stable as yesterday.

Specifically, in Lam Dong province, the three districts of Di Linh, Bao Loc and Lam Ha are trading at the same price of 95,500 VND/kg.

In Cu M'gar district ( Dak Lak province), traders are purchasing at 96,000 VND/kg. Meanwhile, in Ea H'leo and Buon Ho districts, the price is 95,900 VND/kg.

Coffee prices continued to fall at the end of the week. Photo: PV

In Gia Nghia and Dak R'lap ( Dak Nong province), the transaction price was 96,000 and 95,900 VND/kg, respectively.

In Chu Prong district (Gia Lai province), traders buy at 96,000 VND/kg, while Pleiku city and Ia Grai are keeping the price at 95,900 VND/kg.

In Kon Tum, the purchase price is also 95,900 VND/kg.

In less than 6 months, coffee prices in the domestic market have dropped by nearly 30,000 VND/kg, of which in June alone it dropped by more than 15,000 VND.

The continuous decline in coffee prices reflects increasing selling pressure from farmers, while many purchasing businesses have temporarily suspended transactions to wait for clearer developments in the world market.

Graphics: PV

Analysts say the market is in a technical correction phase after a series of hot increases in April and May. Without more positive information such as unfavorable weather in major growing areas or a decrease in global inventories, prices are likely to remain low in the short term.

In Vietnam, favorable weather conditions are helping coffee plants grow well. According to trader Icona Cafe, the next crop's output could increase by about 10%, adding to market pressure due to concerns about oversupply.

Source: https://baogialai.com.vn/gia-ca-phe-ngay-22-6-tuot-khoi-moc-100000-dongkg-post329245.html