Coffee prices today August 3, 2022 | Latest coffee price market information

Coffee prices today, August 3, 2022, in both the world and domestic markets decreased slightly. In particular, domestic coffee prices fell to 43,900 – 44,400 VND/kg. In the world market, coffee prices today decreased simultaneously on both major trading floors. At the end of the latest trading session, Robusta coffee prices on the London floor for September 2022 delivery decreased by 4 USD/ton to 2,027 USD/ton, and for November 2022 delivery decreased by 8 USD/ton to 2,020 USD/ton. Meanwhile, Arabica coffee prices on the New York floor for September 2022 delivery decreased by 3.3 cents/lb to 209.9 cents/lb, and for December 2022 delivery decreased by 3.3 cents/lb to 206.7 cents/lb. The world coffee market turned to decline due to the continued concerns of excessive inflation and global economic recession. At the beginning of the trading session on August 3 (Vietnam time), the US Dollar Index (DXY) on the US market, which measures the fluctuations of the greenback against 6 major currencies, reversed and increased by 0.90%, reaching 106.35. The USD rebounded after Fed officials revealed that they would continue to raise interest rates in the coming time. The increase in the USD has brought commodity prices in general, and coffee prices in particular, to a standstill. In addition, the sentiment on the New York floor is turning towards the figures of Brazil’s bumper crop this year, leading to strong selling by Arabica coffee hedge funds. Brazil’s coffee exports in July 2022 increased by 2.7%, reaching 2.45 million bags. Brazil’s coffee production in 2023/24 is now forecast to increase to 71 million bags, up from 63 million bags in 2022/23. Weather in Brazil is forecast to be quite favorable for harvesting and drying. #coffee_price #coffee_price_today #latest_coffee_price #standard_coffee_price #coffee_price_trend #cafe_price #coffee_price #agriculture #nhanong #mientay

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