Update Coffee Price Today Dec 5th, 2022

UPDATE COFFEE PRICE TODAY DEC 5TH, 2022

Ending the latest trading session, the price of Robusta coffee in London delivered in January 2023 decreased by 4 USD/ton at 1,888 USD/ton, delivered in March 2023 decreased by 9 USD/ton at 1,846 USD/ton. Meanwhile on the New York Stock Exchange, the price of Arabica coffee delivered in December 2022 fell 6.15 cents/lb, at 165.6 cents/lb, delivered in March 2023 fell 3.3 cents/lb, at 163 ,2 cents/lb.

Summarizing last week, the price of Robusta coffee in London delivered in January 2023 increased by 31 USD/ton; price of Arabica coffee delivered in December 2022 increased by 0.55 cents/lb; Domestic coffee increased by an average of 500 VND/kg, last week the market added 1,000 VND/kg.

Currently, the market is under a lot of pressure from the Fed continuing to raise interest rates from its meeting in December 2022; New crop of Vietnam is coming to the market, and then Indonesia's coffee. Therefore, the market forecast that this week will continue to sell strongly, thereby adversely affecting coffee prices.

Expert Nguyen Quang Binh assessed that monetary policy and interest rate hikes in developed countries, inflation in the US and EU have upset the lives of not only local people but also hindered consumption. products of raw material supplying countries.

Many shipping lines said that the number of bookings has decreased significantly even though they have reduced their container freight rates to nearly the same level as before the Covid-19 pandemic. This further proves that orders for the holidays at the end of 2022 and 2023 are not as busy as one might think even though crude oil prices are still high. Black Friday, the start of the biggest sales season of the year, was recorded very quietly.

The expert said, haunting inflation and predictions about a global economic recession forced monetary policymakers of countries to use all means to pursue and control. Not every decrease in the US dollar value index DXY means that commodity prices must rise. Faced with inflation, the governments of countries not only try to pull down commodity prices to "peaceful people" but also carelessly follow the principle that "when DXY increases, commodity prices decrease".

Therefore, at the end of the year, wages and bonuses of workers in many countries are completely or partially cut, when inflation forces them to focus on spending only on "necessary" things, which will negatively affect the price of goods. general and coffee in particular.

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