Update Coffee Price Today Dec 9th, 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 remained at $1,918 per ton, for delivery in March 2023 increased by $8 per ton at $1,876 per ton. Meanwhile on the New York Stock Exchange, the price of Arabica coffee delivered in January 2023 decreased by 1.5 cents/lb, at 158.7 cents/lb, delivered in May 2023 decreased by 1.5 cents/lb, at 159. ,4 cents/lb.

Robusta has regained stability thanks to low inventories compared to Arabica. Many types of goods have increased again recently with the information that the Chinese market has eased Covid prevention measures.

Information from the Commodity Exchange of Vietnam (MXV), in the context of the global economic downturn from the beginning of the year until now, the demand for coffee is likely to weaken. This decline comes from the fact that coffee is a non-essential commodity and is highly dependent on the health of the economy. However, the amount of consumption will not change too much, especially in the long-term consumption markets.

In that picture, Robusta has the upper hand. Instead of completely cutting down on the use of coffee to save money during difficult economic times, consumers are shifting from enjoying in-store to brewing at home. In the ICO's October Coffee Market Report, granular coffee exports reached 8.5 million bags, down 2.5% from 8.72 million bags in the same month last year. Meanwhile, total instant coffee exports increased by 10.9% in October 2022 to 1.19 million bags, bringing the share to 9.5% in October this year, compared with 8.9% of the same period. period last year.

This is an advantage for the Vietnamese coffee industry. With the advantage of being the world's largest producer and exporter of Robusta coffee, accounting for nearly 38% of global production and also being the world's third largest exporter of instant coffee, the shift from consuming The shift from coffee beans to instant coffee as well as cheaper coffee like Robusta, is an opportunity for Vietnam to boost exports and capture market share in the coffee market.

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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

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