Coffee prices today September 23, 2022 | Latest coffee price market information

Domestic coffee prices today, September 23, remained stable. Currently, domestic coffee prices fluctuate at 47,200 – 47,800 VND/kg. For the world coffee market, coffee prices on the two exchanges today reversed, Robusta coffee prices decreased and Arabica coffee prices increased slightly. At the end of the trading session, Robusta coffee prices on the London exchange reversed and decreased. The November spot futures decreased by 9 USD to 2,217 USD/ton and the January 2023 futures decreased by 8 USD to 2,204 USD/ton, both decreases were insignificant. Trading volume was average. In contrast, Arabica coffee prices on the New York exchange were all in an uptrend. The December spot futures increased by 2.15 cents to 223.45 cents/lb and the March 2023 futures increased by 1.70 cents to 216.8 cents/lb, both very positive increases. Trading volume was above average. According to experts, Arabica coffee prices increased well due to the strengthening of the Brazilian domestic currency and the decrease in inventories on the New York floor. The amount of coffee stored in ICE warehouses on September 16 fell to the lowest level since June 1999, reaching 532,448 bags, with only more than 3,000 bags waiting to be sorted. Regarding the domestic coffee market, according to the Import-Export Department (Ministry of Industry and Trade), in the first 8 months of 2022, coffee exports to the UK market grew by double digits. The UKVFTA is supporting the Vietnamese coffee industry to expand its market share in the UK. Specifically, in the first 8 months of 2022, Vietnam’s coffee exports to the UK market reached 34.68 thousand tons, worth 70.68 million USD, up 57.9% in volume and 84.2% in value over the same period in 2021. The Import-Export Department (Ministry of Industry and Trade) said that coffee consumption preferences in the UK are clearly different from other European countries. Instant coffee is the most popular type of coffee among British consumers. Leading instant coffee brands reach more consumers than their freshly ground coffee brands. To take advantage of the opportunities from the UKVFTA, businesses need to organize production according to UK market standards, proactively build and develop customer relationships with large distribution corporations. In particular, businesses need to grasp the technology of preserving and transporting agricultural products by sea; Make good use of preferential credit policies and credit assessment and verification services of customers of British banks. To support export enterprises in general and coffee enterprises in particular to expand their market share in the UK market, in the coming time, the Ministry of Industry and Trade will step up support for Vietnamese enterprises to connect with import enterprises of the UK and Ireland. #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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