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Update Coffee Market Price Today on April 18th, 2023
UPDATE COFFEE MARKET PRICE TODAY on April 18th, 2023At the end of the first session of the week, the price of Robusta coffee in London delivered in May 2023 increased by 29 USD/ton at 2,440 USD/ton, delivered in July 2023 increased by 26 USD/ton at 2,370 USD/ton.
Meanwhile on the New York Stock Exchange, the price of Arabica coffee delivered in May 2023 increased by 7.6 cents/lb, at 201.0 cents/lb, delivered in July 2023 increased by 7.55 cents/lb, at 199 .05 cents/lb.
In the first session of the week, the Arabica floor increased strongly, pulling the Robusta floor to recover. Coffee prices on the New York Stock Exchange reached the highest level in half a year. The reason was that Arabica inventories continued to decline sharply.
Meanwhile, the London floor has entered the overbought zone since last week, continuously going down in the last session. But by the end of the session, Robusta recovered thanks to strong traction from the Arabica floor.
Last week, the report of lower March exports of Brazil and Colombia caused the market to worry about a short-term shortage of Arabica supply. While the inventory report on both exchanges has yet to show any signs of improvement, prompting traders to push forward prices for spot sales.
However, the market is being restrained when the USD rises again. Last week, the dollar fell 2.83%, helping emerging currencies add value, triggering technical buy orders of commodity and speculative funds that sent coffee prices soaring.
Currently, at dawn on April 18, on the US market, the US Dollar Index (DXY) measures the volatility of the greenback with 6 key currencies (EUR, JPY, GBP, CAD, SEK, CHF). increased by 0.55%, reaching the milestone of 102.10.
The dollar edged higher in the last session, after manufacturing activity in New York increased in April, the first increase in 5 months, helping to strengthen expectations that the US Federal Reserve (Fed) will continue. interest rate hike in May.
-------------CONTACT INFORMATION:Adress:Head office: No. 59, Tran Thi Nghi Street, Ward 7, Go Vap District, Ho Chi Minh City, Vietnam.Factory 1: No. 132/6, TL 29 Street, Thanh Loc ward, District 12, Ho Chi Minh City, VietnamFactory 2: No. 60-62, To Vinh Vien Street, Bao Loc City, Lam Dong Province, Vietnam.Phone/Whatsapp/Wechat/Line/Viber: +84 932 680 925Email: sales1@vietthien.com
At the end of the first session of the week, the price of Robusta coffee in London delivered in May 2023 increased by 29 USD/ton at 2,440 USD/ton, delivered in July 2023 increased by 26 USD/ton at 2,370 USD/ton.
Meanwhile on the New York Stock Exchange, the price of Arabica coffee delivered in May 2023 increased by 7.6 cents/lb, at 201.0 cents/lb, delivered in July 2023 increased by 7.55 cents/lb, at 199 .05 cents/lb.
In the first session of the week, the Arabica floor increased strongly, pulling the Robusta floor to recover. Coffee prices on the New York Stock Exchange reached the highest level in half a year. The reason was that Arabica inventories continued to decline sharply.
Meanwhile, the London floor has entered the overbought zone since last week, continuously going down in the last session. But by the end of the session, Robusta recovered thanks to strong traction from the Arabica floor.
Last week, the report of lower March exports of Brazil and Colombia caused the market to worry about a short-term shortage of Arabica supply. While the inventory report on both exchanges has yet to show any signs of improvement, prompting traders to push forward prices for spot sales.
However, the market is being restrained when the USD rises again. Last week, the dollar fell 2.83%, helping emerging currencies add value, triggering technical buy orders of commodity and speculative funds that sent coffee prices soaring.
Currently, at dawn on April 18, on the US market, the US Dollar Index (DXY) measures the volatility of the greenback with 6 key currencies (EUR, JPY, GBP, CAD, SEK, CHF). increased by 0.55%, reaching the milestone of 102.10.
The dollar edged higher in the last session, after manufacturing activity in New York increased in April, the first increase in 5 months, helping to strengthen expectations that the US Federal Reserve (Fed) will continue. interest rate hike in May.
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CONTACT INFORMATION:
Adress:
Head office: No. 59, Tran Thi Nghi Street, Ward 7, Go Vap District, Ho Chi Minh City, Vietnam.
Factory 1: No. 132/6, TL 29 Street, Thanh Loc ward, District 12, Ho Chi Minh City, Vietnam
Factory 2: No. 60-62, To Vinh Vien Street, Bao Loc City, Lam Dong Province, Vietnam.
Phone/Whatsapp/Wechat/Line/Viber: +84 932 680 925
Email: sales1@vietthien.com
