Coffee prices today July 28, 2022 | Latest coffee price market information

Coffee prices today, July 28, 2022, in the world and domestic markets increased sharply. Currently, domestic coffee prices are increasing by 500 VND/kg, to 43,000 – 43,500 VND/kg. In the world market, coffee prices today increased sharply on both major exchanges. At the end of the latest trading session, Robusta coffee prices on the London floor for September 2022 delivery increased by 35 USD/ton to 2,009 USD/ton, and for November 2022 delivery increased by 33 USD/ton to 2,007 USD/ton. Meanwhile, Arabica coffee prices on the New York floor for September 2022 delivery increased by 5.90 cents/lb, to 219.10 cents/lb, and for December 2022 delivery increased by 5.9 cents/lb, to 215.35 cents/lb. The world coffee market rose sharply after the Fed ended its meeting and raised interest rates by 75 basis points, while the USD continued to fall sharply. In addition, the Fed Chairman continued to emphasize that all future decisions will depend on data. He added that, for the first time since the Fed began raising interest rates, the agency now feels it is time to slow down the pace of interest rate increases. However, the head of the Fed did not specify when that will happen. The commodity market in general and the coffee market in particular are waiting for more information related to the US GDP in the second quarter, which is expected to be announced on Thursday. This report will provide the market with accurate data on whether the world’s largest economy is entering a recession. The domestic coffee market also rose sharply following the world’s increase when benefiting from the decrease in the USD. Recently, China’s demand for coffee consumption continues to increase, especially in developed urban areas. In this market, instant coffee is taking up a large market share thanks to its convenience in use. According to the China Coffee Association (CCAB), coffee consumption in China is increasing at an average rate of 15% per year. The main coffee suppliers to China are Guatemala, Ethiopia, Vietnam, Malaysia, Brazil, etc. Meanwhile, the Vietnam Coffee – Cocoa Association said that coffee exports to China in 2020 reached over 95.6 million USD; in 2021, it reached over 128.4 million USD and in the first four months of 2022, it reached over 44.2 million USD. Notably, since 2018, China has always been a market that consumes a lot of Vietnamese coffee. If in 2018, China was the 12th largest coffee import market of Vietnam, in 2019 it rose to 10th place; In 2020, it ranked 9th and in 2021, it ranked 8th. According to the Trade Promotion Agency, to increase market share in China, the Vietnamese coffee industry needs to actively innovate product designs and packaging and improve quality to meet the increasing demands of consumers. Similarly, according to the Ministry of Industry and Trade, South Korea is Vietnam’s 13th largest coffee export market. In the first six months of 2022, the amount of coffee exported from Vietnam to Korea reached an average of 3.2 thousand tons/month, lower than the same period in 2021. In terms of value, coffee exports to Korea in the first half of 2022 reached an average of 8.2 million USD/month, higher than 6.53 million USD/month in the same period in 2021. Statistics from the General Department of Customs, in the first 6 months of 2022, Vietnamese coffee exports to Korea reached approximately 19.2 thousand tons, worth 49.16 million USD, down 7.9% in volume but up 25.4% in value over the same period in 2021. The average export price of Vietnamese coffee to Korea reached 2,563 USD/ton, up 36.1% over the same period in 2021. #coffee_price #coffee_price_today #latest_coffee_prices #standard_coffee_prices #coffee_price_trends #cafe_prices #coffee_prices #agriculture #nhanong #mientay

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