Update Coffee Price Today Dec 14th, 2022

 UPDATE COFFEE PRICE TODAY DEC 14TH, 2022 

Ending the latest trading session, the price of Robusta coffee in London delivered in January 2023 decreased by 191 USD/ton at 1,892 USD/ton, delivered in March 2023 decreased by 12 USD/ton at 1,872 USD/ton. Meanwhile on the New York Stock Exchange, the price of Arabica coffee delivered in March 2023 increased by 0.85 cents/lb, at 167.9 cents/lb, delivered in May 2023 increased by 0.75 cents/lb, at 168 ,15 cents/lb.

At the beginning of the session on December 14 (Vietnam time), on the US market, the US Dollar Index (DXY) measures the volatility of the greenback with 6 key currencies (EUR, JPY, GBP, CAD, SEK, CHF) fell 1.13%, to the 104.00 mark. The dollar fell in the past session, on expectations that the US Federal Reserve (Fed) would slow down the pace of interest rate hikes after a two-day meeting today. This helps Arabica prices keep up momentum.

Another reason that also helps Arabica increase is due to unfavorable weather information in Brazil's coffee growing regions, leading to low production this year. However, the market is still concerned about risks before the possibility that US and European inflation will drive interest rates up

Regarding the coffee harvest in Vietnam, coffee production in crop year 2021 - 2022 (from October 1, 2021 to September 30, 2022) is estimated at 1.73 million tons, a slight change compared to the previous year. previous service. The total planted area remains unchanged, about 600,000 hectares.

However, the output of crop year 2022 - 2023 is expected to decrease by 10-15% compared to crop year 2021 - 2022. The main reason comes from the decreasing trend of coffee growing area as people switch to other crops. more effective as durian, avocado, or garden intercropping. Not only Vietnam, the situation of production decline is also forecasted to happen to the global coffee industry.

-------------

CONTACT INFORMATION:

Adress:

Head office: No. 59, Tran Thi Nghi Street, Ward 7, Go Vap District, Ho Chi Minh City, Vietnam.

Factory 1: No. 132/6, TL 29 Street, Thanh Loc ward, District 12, Ho Chi Minh City, Vietnam

Factory 2: No. 60-62, To Vinh Vien Street, Bao Loc City, Lam Dong Province, Vietnam.

Phone/Whatsapp/Wechat/Line/Viber: +84 932 680 925

Email: sales1@vietthien.com