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

Coffee prices today, September 24, 2022, in the world and domestic markets increased simultaneously. In particular, domestic coffee prices increased by 200 VND/kg, to 47,400 – 48,000 VND/kg. In the latest trading session, Robusta coffee prices on the London floor for November 2022 delivery increased by 12 USD/ton, to 2,238 USD/ton; and those for January 2023 delivery increased slightly by 13 USD/ton, to 2,225 USD/ton. Meanwhile, Arabica coffee prices on the New York floor for December 2022 delivery increased slightly by 2.25 cents/lb, to 223.55 cents/lb; those for March 2023 delivery increased by 2.15 cents/lb, to 217.25 cents/lb. The global coffee market rose as reports showed that New York-traded inventories continued to decline, reaching a 23-year low of 515,064 bags (as of September 20). This has led to a rebound in Robusta prices, while London-traded coffee inventories (as of September 19) recorded an increase of 93,580 tonnes. In addition, the appreciation of the Brazilian Real against the USD has helped Arabica prices reverse in the last session. The Brazilian Coffee Exporters Association (Cecafe) forecasts that the country’s coffee reserves will reach only 7 million 60kg bags by March 2023, a record low in the world’s number one coffee producer. Cecafe President Nelson Carvalhaes said that Brazil’s coffee stocks are so low that even if coffee farmers in the country have a bumper harvest next year, Brazil will have difficulty meeting the current surge in demand. Rabobank economic analyst Guilherme Morya said that uncertainty about Brazil’s coffee supply is one of the key reasons why global coffee prices will continue to rise. The expert also said that 2022 would be the second consecutive year that demand for coffee will exceed supply in the global market. Some major coffee brands such as Starbucks and Jacobs have planned to raise prices to cope with the decline in profits. #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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