Update Coffee Market Price Today on March 30th, 2023

 UPDATE COFFEE MARKET PRICE TODAY 

on March 30th, 2023

At the end of the latest trading session, the price of Robusta coffee in London delivered in May 2023 decreased by 15 USD/ton at 2,170 USD/ton, delivered in July 2023 decreased by 9 USD/ton at 2,133 USD/ton.

Meanwhile on the New York Stock Exchange, the price of Arabica coffee delivered in May 2023 fell 4.05 cents/lb, at 169.7 cents/lb, delivered in July 2023 fell 4.05 cents/lb, at 168 .95 cents/lb.

The world coffee market continues to decline. Arabica lost 2.34%, while Robusta fell less. Experts said that the reason for the decline in the past 2 sessions was due to mixed information about the global financial and banking situation.

In recent weeks, investors have worried about the collapse of two US lenders and the rescue of Credit Suisse (CSGN.S). These factors have weighed on the greenback, as concerns grow about market turmoil that could prevent the US Federal Reserve (Fed) from sticking to its policy of raising interest rates to rein in inflation. broadcast.

However, concerns subsided this week after First Citizens BancShares offered to buy all Silicon Valley Bank deposits and loans. Early this morning, the US Dollar Index (DXY) measuring the volatility of the greenback with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 0.21%, reaching 102.64.

In addition, the price of coffee futures dropped sharply due to speculation on liquidation of the net buying volume on both exchanges, which is currently quite high, while the pressure of the new harvest in the main producing countries has also begun. head.

From the beginning of April 2023, Brazil will harvest the new Robusta crop of the 2023/2024 season with an initial forecast of 22 million bags according to Safras & Mercados and Indonesia will harvest the new Robusta crop with an expected 9.8 million bags.

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