Coffee prices today, August 30, 2022, in the world and in the country decreased slightly. In particular, domestic coffee prices decreased by 100 VND/kg, trading around 48,200 – 48,800 VND/kg. In the world market, coffee prices today decreased simultaneously on 2 major trading floors. In the latest trading session, Robusta coffee prices on the London floor for September 2022 delivery decreased by 34 USD/ton to 2,281 USD/ton, and for November 2022 delivery decreased by 33 USD/ton to 2,279 USD/ton. Meanwhile, Arabica coffee prices on the New York floor for September 2022 delivery decreased by 1.5 cents/lb to 240.5 cents/lb, and for December 2022 delivery decreased by 1.5 cents/lb to 236.6 cents/lb. Yesterday, the London market temporarily suspended trading due to the holiday. Due to the “one-horse race”, Arabica coffee prices also decreased slightly. Previously, coffee prices on the New York floor had a very strong increase in a week, reaching a 6-month high; while Robusta coffee prices on the London floor rose to a 7.5-month high right after the September futures option contract expired. According to data from the General Statistics Office, Vietnam’s coffee exports in the first 8 months of 2022 increased by 14.7% over the same period, reaching 1.2 million tons, equivalent to 20 million bags (60kg). Coffee export revenue in this period increased by 39.6%, to 2.8 billion USD. In August 2022 alone, Vietnam’s coffee exports are estimated to reach 110,000 tons, worth 257 million USD. In 2021, Vietnam’s coffee exports reached 1.52 million tons, worth approximately 3 billion USD. With the current growth rate, the export target of 3 billion USD this year has been achieved early, and is aiming for the 4 billion USD mark by the end of December 2022. The Vietnam Coffee – Cocoa Association aims to achieve coffee export turnover of 5 – 6 billion USD in the next 10 years, more than double the current level. Currently, the average price for a ton of processed coffee is nearly 3,600 USD while the price of green coffee on the floor is about 2,400 USD. Currently, Vietnamese coffee is the cheapest in the world due to the backwardation mechanism. #coffee_price #coffee_price_today #latest_coffee_price #standard_coffee_price #coffee_price_trend #coffee_price #coffee_price #agriculture #nhannong #mientay #lamdong_coffee_price #edaklak_coffee_price #daknong_coffee_price #gialai_coffee_price #kontum_coffee_price #world_coffee_price
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Coffee prices today August 30, 2022 | Latest coffee price market information
