Update Coffee Price Today Feb 13th, 2023

 UPDATE COFFEE PRICE TODAY FEB 11TH, 2023

At the end of the previous session, the price of Robusta coffee in London for delivery in March 2023 increased by 3 USD/ton at 2,040 USD/ton, for delivery in May 2023 increased by 7 USD/ton at 2,039 USD/ton. Meanwhile on the New York Stock Exchange, the price of Arabica coffee delivered in March 2023 increased by 1.1 cents/lb, at 174.75 cents/lb, delivered in May 2023 increased by 0.95 cents/lb, at 174 .65 cents/lb.

In general, last week, the London market had 3 increasing sessions and 2 decreasing sessions. The price of Robusta coffee for spot in March increased by all 9 USD and for May delivery by 6 USD, slight increases. Trading volume is above average.

On the contrary, the New York market had 2 gaining sessions and 3 decreasing sessions. The price of Arabica coffee for delivery in March increased by all 1.95 cents and for May delivery by all 1.35 cents, slight gains. Trading volume remains very high, above average.

Last week, USDX's strong increase again was the main factor that restrained the gain from the beginning of the week even though the inventory report on both coffee floors was still low. As of Friday, February 10, the inventory of Robusta certified and tracked by the London floor has decreased by 840 tons, or 2.98 percent from a week earlier, to 59,550 tons (equivalent to 59,550 tons). equivalent to 992,500 bags, 60 kg bags)

Besides, two reports on the coffee export situation of the top two countries also supported the recovery momentum last week. Cecafé Brasil reported that January exports of coffee beans fell by up to 18.5% year-on-year but remained close to the monthly export average of 2.5 million bags of beans. The General Department of Vietnam Customs reported that January coffee exports decreased by 38.42% year-on-year, but only slightly lower than the monthly export average of 2.4 million bags of coffee of all kinds due to The traditional Tet holiday is quite long.

However, the market still has a lot of risk concerns about the possibility that the Fed will tighten monetary policy strongly, because the US economic indicators still have positive growth and inflation has softened somewhat.

Fitch Solutions said that supply for the remainder of 2023 is expected to be tighter than previously anticipated due to a reduced outlook for output in Brazil this year and a recovery in demand.

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