Update Coffee Price Today March 3rd, 2023

 UPDATE COFFEE PRICE TODAY
March 3rd, 2023

At the end of the latest trading session, the price of Robusta coffee in London delivered in May 2023 increased by 3 USD/ton at 2,180 USD/ton, delivered in July 2023 increased by 5 USD/ton at 2,166 USD/ton.

Meanwhile on the New York Stock Exchange, the price of Arabica coffee delivered in May 2023 fell 1.35 cents/lb, at 182.2 cents/lb, delivered in July 2023 fell 0.75 cents/lb, at 181 ,4 cents/lb.

Coffee prices for the third time in a row moved in opposite directions, but the increase on the London floor and the decline on the New York floor were much lighter.

Arabica coffee prices weakened partly due to strong selling pressure from the leading producer, as the increase in the Brazilian Real supported the downtrend.

For Robusta coffee, the price continued to increase due to slow sales in Vietnam because of price resistance in the domestic market, causing a decrease in export results in the first 2 months of 2023.

Exports in the first two months of the year from Vietnam only reached 340,000 tons, down 13.1% over the same period last year.

Along with that is the London inventory report for the first time down by 0.01% after a long increase.

In the early morning of March 3, on the US market, the US Dollar Index (DXY) measuring the volatility of the greenback with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) turned up again. 0.50% again, reaching 104.98. The USD continues to put pressure on commodity exchanges.

The positive point is that the drop on the New York Stock Exchange was much lighter. The reason is that the inventory that reached the floor level continued to decrease to the lowest level in 2 months to 787,025 bags, as of 1/3.

Besides, according to the Secretariat of Foreign Trade, Brazil exported 42 percent less coffee in February, with exports reaching only 2,040 million bags.

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CONTACT INFORMATION:

Adress:

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

Factory 2: No. 60-62, To Vinh Vien Street, Bao Loc City, Lam Dong Province, Vietnam.

Phone/Whatsapp/Wechat/Line/Viber: +84 932 680 925

Email: sales1@vietthien.com