Update Coffee Price Today Feb 18th, 2023

 UPDATE COFFEE PRICE TODAY FEB 18TH, 2023

In the world market, the price of coffee continues to increase. Accordingly, the price of online Robusta coffee in London delivered in March 2023 was recorded at $ 2,085 / ton after increasing 0.82% (equivalent to $ 17).

The price of arabica coffee delivered in March 2023 in New York reached 185.75 US cents/lb, up 3.05% (equivalent to 5.5 US cents) at the time of the survey at 6:30 am (Vietnam time).

In Wayanad district (Kerala state, India), the price of robusta coffee is escalating in the context of a sharp decrease in output and a small amount of product to the market, bringing new hope to coffee farmers.

Accordingly, the farm price of robusta coffee berries hit a record 102 rupees/kg on the Wayanad market last Friday (February 10), much higher than the 80 rupees/kg level in the same period last year. .

Similarly, the spot price of robusta beans on the Wayanad market stood at Rs 185 per kg, up from Rs 145 per kg in the same period last year.

Although the harvest is almost complete, there is a large shortage of coffee in the market compared to the same period last year, and this is the main reason for the increase in coffee prices.

Sources said: “We expect Robusta production in Wayanad to drop by 30% this year due to climate change, especially as robusta growing regions see scant flowering in the coming months. last year".

International supply of coffee, especially robusta, plummeting on the commodity exchange is also believed to be the reason for the price increase. Robusta exports from January 1 to February 7 this year were 15,332 tons, down 27% compared to 21,101 tons in the same period last year.

Farmers in Wayanad say production could drop by 25% to 30% next year due to insufficient rainfall.

Prasanth Rajesh, director of the Wayanad Coffee Growers Association, said that while coffee growing areas in the neighboring Coorg district (Karnataka state) received between 20mm and 25mm of rain a few weeks ago, most of the The area of ​​Wayanad has only 5mm of rainfall.

Mr Rajesh said that a minimum of 20mm of rain is essential for healthy flowering, so too little rain will adversely affect the berry formation process of the tree, The Hindu reported.

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