Update Coffee Price Today Dec 15th, 2022

 UPDATE COFFEE PRICE TODAY DEC 15TH, 2022 

Ending the latest trading session, the price of Robusta coffee in London delivered in January 2023 increased by 23 USD/ton at 1,915 USD/ton, delivered in March 2023 increased by 5 USD/ton at 1,877 USD/ton. Meanwhile on the New York Stock Exchange, the price of Arabica coffee delivered in March 2023 increased by 0.25 cents/lb, at 168.15 cents/lb, delivered in May 2023 increased by 0.35 cents/lb, at 168. ,5 cents/lb.

Coffee prices continued to increase in the context that the market correctly predicted the outcome of the December meeting of the US Federal Reserve (Fed). Accordingly, the Fed raised the basic interest rate by 0.5%, and this is the 7th increase in 2022 to control inflation, which is at the highest level in the past 40 years.

With an increase of 0.5%, the Fed raised the basic lending rate margin to 4.25% to 4.5%, the highest level in 15 years. Before that, the Fed had 4 times in a row raising interest rates by 0.75%.

Besides, rumors that the Agricultural Forecasting and Supply Agency (Conab) under the Ministry of Agriculture of Brazil will cut the estimate of this country's coffee production in the 1st crop survey report will be released in the coming weeks. In the coming days, however, funds and speculators are also wary of this rumor. However, the above information also helped Arabica maintain its upward momentum for 3 consecutive sessions from the beginning of the week.

In addition, the momentum also comes from the information that the Chinese market reopens, which can support purchasing power, and emerging currencies regain their value. The two derivative coffee exchanges also increased due to the expiration of December futures options this week.

According to the General Department of Customs, by the end of November 2022, Vietnam's coffee exports have brought in more than 3.63 billion USD, far exceeding the figure of 3.07 billion USD in 2021 and approaching the record of 4 billion USD. The coffee industry is looking forward to this year. Positive data shows that Vietnam's coffee exports still maintain high growth, despite the less optimistic outlook of the global economy.

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

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