Update Coffee Price Today Dec 7th, 2022

UPDATE COFFEE PRICE TODAY DEC 7TH, 2022 

At the end of the latest trading session, the price of Robusta coffee in London delivered in January 2023 increased by 17 USD/ton at 1,976 USD/ton, delivered in March 2023 increased by 21 USD/ton at 1,882 USD/ton. Meanwhile, on the New York Stock Exchange, the price of Arabica coffee delivered in January 2023 increased by 0.9 cents/lb, at 163.5 cents/lb, delivered in May 2023 increased by 0.85 cents/lb, at 164 ,1 cent/lb.

The two-floor coffee market continued to have a rising session. Arabica increased less than Robusta due to the increase in inventories on the New York Stock Exchange.

According to a report by Safras & Mercados, Brazil exported 3,607,395 bags of coffee beans in November, up 17.4% year-on-year. This has caused the uptrend on the Arabica coffee floor in New York to stall due to the caution of speculators.

According to experts, the price of coffee on both floors increased cautiously due to the risk of further increase after the US payrolls report in November was somewhat optimistic, with the possibility that the Fed would maintain a prolonged economic tightening policy. In order to hit the inflation target, long-term US Treasury yields spiked again, and the stock market continued to decline.

At the beginning of the trading session on December 7 (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) rose 0.29% to reach 105.58.

The dollar edged up slightly against the euro and the Japanese yen, as investors try to anticipate a rate hike at the Federal Reserve's next policy meeting next week.

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