Coffee prices today November 9, 2022 | Latest coffee price market information

Coffee prices today, November 9, 2022, in the world and domestic markets turned to decrease. In particular, domestic coffee prices decreased by 400 VND/kg, to 40,300 – 40,900 VND/kg. In the latest trading session, Robusta coffee prices on the London floor for January 2023 delivery decreased by 18 USD/ton (equivalent to 0.96%), to 1,851 USD/ton. And coffee prices for March 2023 delivery on this floor are also decreasing by 17 USD/ton (equivalent to 0.92%), to 1,833 USD/ton. Meanwhile, Arabica coffee prices on the New York floor for December 2022 delivery decreased sharply by 5.2 cents/lb (equivalent to 2.96%), to 170.55 cents/lb. For March 2023 delivery, coffee prices on this exchange also fell sharply by 5.6 cents/lb (equivalent to 3.26%), to 166.05 cents/lb. The world coffee market turned down today. The reason is due to capital turnover activities when stock prices increased sharply before the midterm elections in the US. The weather in Brazil’s key growing regions continues to be favorable, putting pressure on Arabica coffee prices. In addition, Robusta coffee prices decreased less thanks to the business position of hedge funds that increased their short sales excessively last week. The market is waiting for a buyback on this exchange to balance the position. Despite inflation and trade difficulties, Vietnam’s coffee exports still recorded good growth. The Vietnamese coffee harvest season is taking place with a fairly high expected output increase, along with good grasp of market opportunities, it is forecasted that Vietnam’s coffee exports this year can set a record turnover of 4 billion USD. Mr. Phan Minh Thong – Chairman of the Board of Directors of Phuc Sinh Joint Stock Company, said that this crop year, coffee output could increase by 10%. Regarding domestic coffee production, Vietnam’s coffee productivity increased from 23.5 quintals/ha in 2011 to 28.2 quintals/ha in 2021 and output increased from 1.27 million tons in 2020 to 1.81 million tons in 2021. Currently, Vietnam’s coffee productivity is more than 3 times higher (2.8 tons/ha) than the world’s average coffee productivity (0.8 tons/ha). Besides the EU, coffee exports to other markets also achieved impressive growth, such as Russia, the UK, India and Mexico, which increased dramatically by more than 50 times. In general, coffee exports to major markets increased due to demand recovering after the Covid-19 pandemic, while global supply tightened due to crop failures and supply chain congestion in some major producing countries. #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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