Coffee prices today, August 6, 2022, on the New York floor decreased sharply because the USD increased again. Domestically, coffee prices fluctuated little, remaining at 44,400 – 44,900 VND/kg. In the world market, coffee prices today turned down 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 2 USD/ton to 2,043 USD/ton, and for November 2022 delivery increased by 1 USD/ton to 2,0421 USD/ton. Meanwhile, Arabica coffee prices on the New York floor for September 2022 delivery decreased by 9.85 cents/lb to 209.45 cents/lb, and for December 2022 delivery decreased by 9.35 cents/lb to 206.4 cents/lb. The world coffee market turned down after previous price increases. In particular, Arabica coffee prices on the New York floor fell sharply when the USD increased again. The USD increased after the US non-farm payroll report increased more than expected, showing that solid labor demand had eased recession concerns. And this has put commodity prices in general and coffee prices in particular at a disadvantage. In addition, geopolitical tensions and high inflation are causing coffee consumption to decline, and also causing prices to fall. Domestic coffee prices continue to stay high, nearly 45,000 VND/kg because traders calculate profits on foreign currency (USD) at a good price when collecting. Domestic coffee prices have increased to 45 million VND/ton as forecasted by experts, not because prices on the London floor increased but thanks to the VND’s depreciation against the USD. Vietnam’s coffee exports are estimated to have increased by 18.4% in the first 7 months of this year compared to the same period last year to 1.1 million tons, equivalent to 19 million bags. In the third quarter of 2022, Vietnam still has about 500,000 tons of coffee to export. It is forecasted that Vietnam’s coffee exports will face many difficulties in the coming time. Geopolitical tensions in Eastern Europe have caused high inflation, weak demand and low coffee prices. #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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Coffee prices today August 6, 2022 | Latest coffee price market information
