World coffee prices, Robusta, fluctuated between the two delivery periods of November 2023 and January 2024. Arabica increased slightly when the USD unexpectedly fell sharply despite steady selling pressure from the bumper crop of Brazilian farmers.

For the robusta trading market in London, after a temporary trading session at the beginning of the week, robusta coffee prices returned with the momentum of increasing from record low inventories.

Brazil's coffee crop this year and strong sales at the end of the year are expected to continue to affect world coffee market transactions in the coming time.

From the beginning of the year to August 15, the value of Vietnam's coffee exports has reached more than 2.8 billion USD. According to forecasts, if the export volume in the last months of the year is equal to the same period last year and the export price is equal to the first months of the year, the coffee export volume for the whole year of 2023 will reach about 1.718 million tons, worth 4.2 billion USD. This will be a new record for the Vietnamese coffee industry. Vietnam's coffee exports to markets such as Italy, the US, Japan, Russia, Algeria, the Netherlands, and Mexico increased compared to the same period last year.

Domestic coffee prices today, August 30, increased by 100 VND/kg in key purchasing localities.

At the end of the trading session on August 29 on the international futures exchange, the price of robusta coffee on the ICE Futures Europe London exchange for November 2023 delivery increased by 11 USD, trading at 2,448 USD/ton. The January 2024 delivery period decreased by 9 USD, trading at 2,340 USD/ton. The average trading volume was low.

Arabica coffee prices on the ICE Futures US New York exchange for December 2023 delivery increased slightly by 0.35 cents, trading at 153.1 cents/lb. Meanwhile, the March 2024 delivery increased by 0.35 cents, trading at 154.2 cents/lb. Average trading volume.

According to data from the International Trade Center, in the first 6 months of 2023, South Korea imported 92,930 tons of coffee, worth 547.83 million USD, down 0.3% in volume and 3.6% in value compared to the same period in 2022.

In the first 6 months of 2023, South Korea reduced imports of many types of coffee. Of which, coffee imports, excluding roasted and decaffeinated coffee (HS 090111), decreased by 1.5% in volume and 11.2% in value compared to the same period last year, reaching 78.27 thousand tons, worth 340 million USD.

Similarly, South Korea reduced its imports of roasted coffee, excluding decaffeinated coffee (HS 090121), down 14% in volume but up 13.1% in value, reaching 7,750 tons, worth US$174 million.

According to the latest report of the Import-Export Department (Ministry of Industry and Trade), the coffee supply for Korea is quite diverse, with over 50 countries and territories. The main suppliers for Korea include: Brazil, Vietnam, Colombia, Ethiopia, Guatemala, etc.

Brazil was the largest coffee supplier to South Korea in the first half of 2023, reaching 25,720 tons worth US$109.69 million, up 23.3% in volume and 10.5% in value year-on-year. Brazil's share of South Korea's total coffee imports increased from 22.38% in the first half of 2022 to 27.68% in the first half of 2023.

Similarly, South Korea increased its coffee imports from Vietnam, up 21.4% in volume and 6.9% in value over the same period last year, reaching nearly 21,270 tons, worth 43.8 million USD. Vietnam's coffee market share in South Korea's total imports increased from 18.79% in the first 6 months of 2022 to 22.8% in the first 6 months of 2023.

The Korean market is showing a tendency to reduce coffee imports from Colombia, Ethiopia, and Guatemala in the first 6 months of 2023.