Coffee prices today 07/24/2022 | Latest coffee price market information

Coffee prices today, July 24, 2022, decreased in the world, while in the country, they increased to 42,100 – 42,600 VND/kg. This week, domestic coffee prices increased sharply to 1,110 VND/kg. In the world market, coffee prices today continued to decrease on two major trading floors. At the end of the latest trading session, Robusta coffee prices on the London floor for September 2022 delivery decreased by 11 USD/ton to 1,987 USD/ton, and for November 2022 delivery decreased by 10 USD/ton to 1,984 USD/ton. Meanwhile, Arabica coffee prices on the New York floor for September 2022 delivery decreased by 2.3 cents/lb to 215.85 cents/lb, and for November 2022 delivery decreased by 2.2 cents/lb to 211.75 cents/lb. World coffee prices this week had a good start, with an increase on Monday due to the continued decline of the USDX index. In addition, concerns about this year’s coffee crop will not meet expectations. This information also helped Arabica coffee increase strongly. Most importantly, the ICE inventory report continued to stand at a lower level than 22 years and GCA inventory was only enough to supply roasting for more than 12 weeks, an average number that helped the New York floor increase strongly from the beginning of this week. The coffee’s increase was maintained well into Tuesday’s session. However, in the middle of the week, Robusta coffee prices suddenly slowed down due to the USDX reversing to increase. On the other hand, Arabica coffee prices on the New York floor increased for the fourth consecutive session. The market was supported when leading consultant HedgePoint Global Market forecasted a global surplus of only 0.3 million bags in the 2022/2023 crop year, instead of a surplus of nearly 7 million bags according to USDA, due to reduced production in Vietnam, Colombia, and Honduras. Over the weekend, world coffee prices plummeted due to a lack of investors. The market traded dullly with low volume. The Real fell to a nearly 6-month low, encouraging Brazilians to sell more coffee. To summarize this week, the price of Robusta coffee on the London floor for September 2022 delivery increased by 64 USD/ton; while the price of Arabica coffee for September 2022 delivery increased by 16.05 cents/lb. Thanks to the continued decline of the USDX index, the coffee market has recovered strongly. Thanks to that, the domestic coffee market has also benefited. To summarize this week, domestic coffee prices are increasing sharply from 1,000 – 1,100 VND/kg compared to last week. #coffee_price #coffee_price_today #latest_coffee_price #standard_coffee_price #coffee_price_trend #cafe_price #coffee_price #agriculture #nhanong #mientay

source