Coffee prices today September 26, 2022 | Latest coffee price market information

Coffee prices today, September 26, in the domestic market at the most recent time were purchased at prices ranging from 47,300 – 47,900 VND/kg. Last week, world coffee prices at both London (UK) and New York (USA) exchanges had unexpected fluctuations. The biggest surprise was that world coffee prices at the beginning of last week increased sharply due to the impact of the report of the Brazilian government’s Crop Supply Agency (Conab). Accordingly, in the third crop survey report (published on the evening of September 20), Conab reduced the forecast for Brazil’s coffee output by 3 million bags, down to 50.38 million bags due to unfavorable weather. Concerns that Brazilians would limit coffee sales, in the context of the US Federal Reserve’s (Fed) interest rate meeting, created momentum for coffee prices to increase. Specifically, on September 21, the price of Robusta coffee on the London floor increased from 2,202 USD/ton to 2,238 USD/ton (delivery term in November 2022); Arabica coffee on the New York floor also increased from 215.1 cents/lb to 224.95 cents/lb. After the price increase, coffee prices from the second half of the week returned to a series of days of decline. This was predicted because this was the time when the Fed met to announce the interest rate hike. As predicted, to curb inflation, the Fed continued to strongly increase interest rates by 0.75 percentage points. Thus, after 3 consecutive interest rate hikes since the beginning of 2022, the lending interest rate has been raised to 3.0 – 3.25%, the highest level since the beginning of 2008. After Feb’s announcement, coffee prices on all floors decreased simultaneously. However, Conab’s report also helped “hold back” the decline. In the domestic market, statistics from the General Department of Vietnam Customs show that in the first 15 days of September 2022, Vietnam exported 38,000 tons of coffee, equivalent to a turnover of 92.9 million USD. A decrease of 25% in volume and 10% in value compared to the same period. Accumulated from the beginning of the year to September 15, coffee exports increased by 12% in volume and 38% in value. Coffee prices in the domestic market also had many reversals last week. Typically, coffee prices jumped by 500 VND/kg at the close of trading on September 21, bringing coffee prices around 48,000 VND/kg. In the following days, coffee prices tended to decrease but not deeply. Thanks to that, in the last trading session of the week, although it slipped below the 48,000 VND/kg mark, the coffee price still increased by 400 VND/kg compared to the opening session of the week. At the world trading floors, the price of Robusta coffee on the London floor in the most recent trading session reached 2,232 USD/ton for the November 2022 delivery period; 2,219 USD/ton for the January 2023 delivery period, 2,191 USD/ton for the March 2023 delivery period and started trading for the May 2023 delivery period at 2,176 USD/ton. Arabica coffee on the New York floor in the most recent trading session was priced at 220.45 cents/lb for the December 2022 delivery period; 214.1 cents/lb for the March 2023 delivery period; 210.25 cents/lb for May 2023 delivery and open for July 2023 delivery at 207.1 cents/lb. According to experts, domestic coffee prices this week are forecast to be around 48,000 VND/kg. World coffee prices continue to be under downward pressure as the USD index rises to its highest level in 20 years. #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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