Update Coffee Price Today March 20th, 2023

 UPDATE COFFEE PRICE TODAY

March 20th, 2023

Ending the latest trading session, the price of Robusta coffee in London delivered in May 2023 decreased by 40 USD/ton at 2,064 USD/ton, delivered in July 2023 decreased by 39 USD/ton at 2,054 USD/ton.

Meanwhile on the New York Stock Exchange, the price of Arabica coffee delivered in May 2023 fell 3.45 cents/lb, at 176.6 cents/lb, delivered in July 2023 fell 3.3 cents/lb, at 175 .45 cents/lb.

In general, last week, London floor had 4 increasing and decreasing sessions and 1 gaining session. The price of Robusta coffee for May delivery fell all of $76 (3.55%), for July delivery fell all of $77 (3.61%), the declines were quite strong.

Similarly, the New York Stock Exchange had 3 decreasing sessions and 2 increasing sessions. The price of Arabica coffee for May delivery fell all of 1.20 cents (0.67%), and for July delivery fell all of 1.65 cents (0.93%), significant declines.

According to experts, the price of coffee fluctuated quite strongly in the past week when there was news about some major banks in the world standing on the brink of bankruptcy, forcing central banks to pump goods. tens of billions of dollars to support liquidity.

Besides, the report of inventories continued to increase, which eased concerns about supply shortage, while the main producers such as Brazil, Colombia, and Indonesia are also about to start a new harvest in the middle of this year.

As of March 17, the inventory of Robusta certified and tracked by the London floor has increased by 2,190 tons, or 2.97 percent higher than a week earlier, to registered at 75,960 tons (equivalent to 1,266,000 bags, 60 kg bags), recorded a fourth consecutive week of increase in inventories.

These factors hinder the recovery of coffee. Causing this agricultural product to have a consecutive week of decline from the beginning of March 2023. This week the focus will be on the outcome of the Fed's March 2023 meeting.

In the current context, supply from other major exporting countries such as Brazil and Indonesia is showing signs of shrinking due to adverse weather, giving Vietnam the opportunity to expand its export market share.

In the long term, it is forecast that the demand for coffee beans this year will increase sharply, even higher than in 2022. These are good signs for Vietnam's coffee industry.

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