Update Coffee Price Today March 7th, 2023

 UPDATE COFFEE PRICE TODAY

March 7th, 2023

Ending last week's trading session, the price of Robusta coffee in London for delivery in May 2023 decreased by 9 USD/ton at 2,153 USD/ton, delivered in July 2023 decreased by 8 USD/ton at 2,142 USD/ton.

Meanwhile on the New York Stock Exchange, the price of Arabica coffee delivered in May 2023 increased by 2.45 cents/lb, at 180.3 cents/lb, delivered in July 2023 increased by 2.5 cents/lb, at 179 ,7 cents/lb.

Coffee prices on both floors still have mixed movements, but according to the opposite scenario. Arabica increased by 1.38%, while Robusta decreased slightly by 0.42%.

In the early morning of March 7, 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) decreased by 0.25 %, down to 104.27.

The dollar slipped ahead of the US Federal Reserve Chairman Jerome Powell's testimony, and the jobs data released later this week. The above 2 data to predict more accurately the interest rate increase of the US Central Bank in the near future.

The increase in the Brazilian Real helped the Arabica price benefit. Along with that, the news that Colombia's exports fell, also helped coffee on the New York floor benefit.

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