Coffee prices today August 24, 2022 | Latest coffee price market information

Coffee prices today, August 24, 2022, in the domestic and world markets continued to increase. In particular, domestic coffee prices increased by 300 VND/kg, to 48,700 – 49,200 VND/kg. In the world market, coffee prices today continued to increase on both major exchanges. In the latest trading session, Robusta coffee prices on the London floor for September 2022 delivery increased sharply by 17 USD/ton, to 2,254 USD/ton, and for November 2022 delivery increased by 15 USD/ton, to 2,258 USD/ton. Meanwhile, the price of Arabica coffee on the New York floor for September 2022 delivery increased by 6.35 cents/lb, to 230.65 cents/lb, and for December 2022 delivery increased by 7.05 cents/lb, to 228.25 cents/lb. The world coffee market continued to have its third consecutive session of price increase. The reason is that Arabica coffee prices received information that Brazil lacked rain, causing the domestic currency to increase. Robusta coffee prices also benefited when the strike at the seaport in the UK was not resolved. The La Nina weather phenomenon is forecast to last until the end of the year, continuing to cause heavy rain across the Pacific coffee belt and drought in southeastern Brazil and the West African coffee region. This positive signal helps the New York market increase in the medium term. Both farmers and investors are concerned that this weather will negatively affect Brazil’s coffee supply in the future. Regarding Robusta coffee prices, experts believe that in the short term, this commodity will continue to struggle to increase in price at a new resistance level of 2,280 – 2,300 USD/ton. However, the price is currently at a high level and has been overbought for many sessions, so limit new purchases to chase the price at this time. If so, open a small proportion, take profits in a short session and have a reasonable stop loss. If the price increases to test the 2,300 area, you can open a small sell position there to take advantage of the small technical recovery wave and test the new direction of the price. Along with the world’s increase, today’s coffee prices in the domestic market are also increasing. Thanks to that, domestic coffee prices easily surpassed the high mark of 49,000 VND/kg. Along with the scarce supply and concerns about the weather affecting the next crop, the world market continues to increase coffee purchases. This will help the domestic coffee market to be forecasted to increase in the coming time. #coffee_price #coffee_price_today #latest_coffee_price #standard_coffee_price #coffee_price_trend #coffee_price #coffee_price #agriculture #farmers #western_region #lamdong_coffee_price #aklak_coffee_price #daknong_coffee_price #gialai_coffee_price #kontum_coffee_price #world_coffee_price

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