Update Coffee Price Today Feb 15th, 2023

 UPDATE COFFEE PRICE TODAY FEB 15TH, 2023

At the end of the last session, the price of Robusta coffee in London delivered in March 2023 increased by 23 USD/ton at 2,067 USD/ton, delivered in May 2023 increased by 26 USD/ton at 2,070 USD/ton. Meanwhile on the New York Stock Exchange, the price of Arabica coffee delivered in March 2023 increased by 6.5 cents/lb, at 183.55 cents/lb, delivered in May 2023 increased by 6.5 cents/lb, at 183 .25 cents/lb.

Coffee futures prices continue their uptrend ahead of the March futures options expiration date later this week. The slight increase in the Brazilian Real's exchange rate contributed to the upward trend in prices as people reduced sales of agricultural products for export.

According to published data, the US consumer price index CPI in January increased by 0.5% compared to December 2022 and increased by 6.4% over the same period last year, most of the upward pressure on prices came to from energy products. This increase is higher than the previous forecast of experts.

Experts assess that the above information makes the hope that inflation in the US will soon cool down, and may prompt the US Federal Reserve to take a tougher action to raise interest rates at its upcoming meeting next month. 3. This will affect the recovery of coffee in the medium term.

However, currently, coffee on 2 exchanges is being strongly supported by low inventory. Inventories of Robusta coffee on the London floor as of Monday 13/2 fell by another 300 tons, or 0.5% less than a week earlier, to registered at 59,540 tons (equivalent to 992,333 bags, 60 bags). kg).

It is forecast that Vietnam's coffee industry will still benefit from a resilient world demand and a guaranteed domestic supply in terms of both output and quality, meeting export requirement.

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