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Saturday, June 22, 2024

Coffee market volatility

By Nguyen Quang Binh

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Recent changes in demand, supply, and monetary policy have injected both buoyancy and risk into the coffee market. The domestic and foreign coffee markets have experienced extraordinary volatility, particularly during the Lunar New Year holiday (Tet). Within a mere 10-day span before and after Tet, the domestic coffee price fluctuated by as much as VND5 million per ton. Concurrently, coffee prices on futures exchanges exhibited wild gyrations, leaving traders to chase after them with weary apprehension. Concerns mount over delayed coffee stock release post-Tet “It has never been like this year when I have not yet started business by the eighth day of Tet,” remarked Chau, a prominent coffee trader in Buon Ma Thuot City. “I have offered purchasing prices ranging from VND82 million to VND78 million per ton, in line with the daily quoted prices of the London robusta coffee futures exchange, but few are willing to sell. Even when there are sellers, the volume is merely several tons, insufficient to accumulate stock for large orders of 300 tons, let alone the 500-700 tons seen in previous Tets.” As factories are set to resume operations, numerous coffee processing facilities in Gia Lai Province and other regions find themselves compelled […]
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