Update Coffee Price Today Feb 23th, 2023

 UPDATE COFFEE PRICE TODAY FEB 23TH, 2023

At the end of the latest trading session, the price of Robusta coffee in London delivered in May 2023 increased by 72 USD/ton at 2,205 USD/ton, delivered in July 2023 increased by 69 USD/ton at 2,188 USD/ton. Meanwhile on the New York Stock Exchange, the price of Arabica coffee delivered in May 2023 increased by 3.5 cents/lb, at 193.35 cents/lb, delivered in July 2023 increased by 3.55 cents/lb, at 191 ,7 cents/lb.

Robusta continued to increase by 3.38% in the last session on the first announcement day (FND) 22/2. According to experts, long-term Treasury bond yields have caused the global bond market to lose money, leading to stock exchanges and derivatives exchanges such as gold and crude oil. In that context, the coffee floors are benefiting from the strong inflow of speculative capital.

Meanwhile, this year's Carnival and widespread adverse weather in the Brazilian Midwest also contributed to a slowdown in supply, prompting New York speculators to buy back contracts on the floor to expedite deliveries. The price of Arabica coffee increased sharply, beyond all speculations of traders.

In Vietnam, the supply of the new crop of Robusta is also worrisome, when in some localities, drizzling and cold conditions persist, but the rainfall is not enough, accompanied by cold air, causing the coffee flowers to bloom not enough. there is a risk of rot and no fruit set, even many coffee gardens are damaged by frost. Adverse weather is causing damage to many industrial crops in Vietnam such as coffee, pepper...

In addition to the above reasons, the chain of events and the announcement of a computer reporting system of business positions damaged by hackers on the floor shows that this is a suspicious incident. According to the expert, this may be a "trick" of the "sharks" on the floor to manipulate the current coffee price.

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