Update Coffee Price Today March 4th, 2023

 UPDATE COFFEE PRICE TODAY
March 4th, 2023

At the end of the latest trading session, the price of Robusta coffee in London delivered in May 2023 decreased by 18 USD/ton at 2,162 USD/ton, delivered in July 2023 decreased by 16 USD/ton at 2,150 USD/ton.

Meanwhile on the New York Stock Exchange, the price of Arabica coffee delivered in May 2023 fell 4.35 cents/lb, at 177.85 cents/lb, delivered in July 2023 fell 4.2 cents/lb, at 177 ,2 cents/lb.

After 3 consecutive days of increasing at the beginning of the week, coffee prices on the London floor ended the week with a decline, while Arabica continued the series of declines.

The forecast information that wet processed Arabica coffee exports from producing countries in Central America this year will be significantly improved compared to the previous crop year, contributing to pressure on New York futures prices.

The strong selling momentum of Brazilian farmers after a period of stagnation due to festivals and extreme weather, along with the fact that they will gain more foreign currency, made Arabica maintain its decline throughout this week.

In terms of macroeconomics, major banks around the world are considering adjusting deposit interest rates higher in the context that excessive inflation is driving monetary interest rates to continue to rise.

The price of London Robusta coffee fluctuated hesitantly during the last 2 days of the week, when there were rumors that the domestic market in Vietnam had appeared price resistance due to the high exchange rate and high interest rates on credit loans. endurance of traders dealing in agricultural commodities.

According to experts, inflation in February 2023 in the European region is still high, causing "stress" for coffee buyers, while exporters in Vietnam also have to "struggle" because of a lack of purchasing capital. . Coffee in this crop was suppressed because weak capital could not create a flow for the export market from Vietnam.

At the end of the week, Robusta prices fell due to high inventories on the London floor.

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