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

Coffee prices today, October 24, 2022, in the domestic and world markets are stable. Currently, domestic coffee prices continue to be purchased around 43,200 – 43,600 VND/kg. In the world market, coffee prices today remain stable on both major exchanges. In the latest trading session, the price of Robusta coffee on the London floor for November 2022 delivery remained at 2,001 USD/ton. And the price of coffee for January 2023 delivery on this floor is at 1,996 USD/ton. Meanwhile, the price of Arabica coffee on the New York floor for December 2022 delivery is maintained at 190.9 cents/lb. For March 2023 delivery, the price of coffee on this floor is trading at 185.8 cents/lb. The world coffee market is stable today after a sharp decline last week. Last week, the price of Robusta coffee in London for November 2022 delivery decreased by 60 USD/ton; the price of Arabica coffee for December 2022 delivery decreased by 5.8 cents/lb. According to experts, the exchange rate factor is playing an important role in the price movements of coffee on both exchanges and domestically. The US Federal Reserve (Fed) is expected to continue raising interest rates, causing US yields and the USD to be higher. The strong increase in the USD has put pressure on domestic currencies. In addition, major coffee exporting countries such as Vietnam are entering the new crop harvest and are forecast to increase. This further puts pressure on Robusta coffee prices, which have fallen sharply in the past 2 months. Not stopping there, information that the main coffee growing regions in southern Brazil have had abundant rain, helping the coffee trees produce very good new crop flowers, promising favorable development for next year’s crop. The weather in Colombia, Central America and Mexico is also mostly favorable for the harvest. This shows that the supply in the coming time will be more abundant, and of course, this is not good for the price of coffee. Last week, domestic coffee prices fell sharply, losing from 1,300 – 1,400 VND/kg compared to the previous week. Preliminary data report of the General Department of Vietnam Customs shows that coffee exports in the first half of October reached 36,156 tons (equivalent to 602,600 bags, 60 kg bags), bringing coffee exports in the first 9.5 months of 2022 to a total of 1,381,345 tons (about 23.01 million bags), up 11.05% over the same period last year. At the same time, the preliminary data report also shows that the value of coffee export turnover reached a total of 3.16 billion USD, a sharp increase of 35.45% over the total export turnover in the same period last year. This shows that recently exporters from Vietnam have increased sales due to significant improvements in London futures prices. #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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