Update Coffee Price Today March 14th, 2023

 UPDATE COFFEE PRICE TODAY

March 14th, 2023

Ending the first trading session of the week, the price of Robusta coffee in London for delivery in May 2023 decreased by 27 USD/ton at 2,113 USD/ton, delivered in July 2023 decreased by 27 USD/ton at 2,104 USD/ton.

Meanwhile on the New York Stock Exchange, the price of Arabica coffee delivered in May 2023 increased by 1.4 cents/lb, at 179.2 cents/lb, delivered in July 2023 increased by 1.15 cents/lb, at 178 .25 cents/lb.

The world coffee market continued to be mixed as it ended last week. Robusta fell to a half-month low, while Arabica was on the rebound.

Gold prices spiked after the collapse of Silicon Valley Bank and Signature Bank. This causes capital flows and speculation to shift to precious metals and coffee, so there is no incentive to increase prices.

World gold price in the early morning increased strongly with spot gold increasing by 27.8 USD to 1,910.7 USD/ounce. Gold futures last traded at $1,916.3 per ounce, up $49.1 from dawn the day before.

As predicted by experts, Robusta continued to face difficulties right after a report from the General Department of Vietnam Customs showed that February exports reached 200,056 tons (about 3.334 million bags), a sharp increase of 40.35% compared to the previous month. with the previous month and higher than the initial estimate of 3 million bags. This has alleviated concerns about short-term supply shortages.

Coffee exports in February 2022 from coffee producing and exporting countries contributed to reducing the consumer market's concerns about short-term supply shortages.

Besides, inventories on the London floor increased more than New York, making coffee prices on the two floors continue to move in opposite directions.

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