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Update Coffee Market Price Today on May 9th, 2023
UPDATE COFFEE MARKET PRICE TODAY on May 9th, 2023 Yesterday, the London floor was still closed to celebrate the coronation of King Charles III. Ending last week's trading session, the price of Robusta coffee in London delivered in July 2023 increased by 59 USD/ton at 2,471 USD/ton, delivered in September 2023 increased by 55 USD/ton at 2,446 USD/ton.Meanwhile on the New York Stock Exchange, at the end of the first session of the week, the price of Arabica coffee delivered in July 2023 fell 4.1 cents/lb, at 183,095 cents/lb, delivered in September 2023 fell 4 cents/lb, in at 181.6 cents/lb.
Experts said that favorable weather in coffee-harvesting regions in Brazil pushed this coffee item down, even though inventories on the New York Stock Exchange were low.With Robusta, this could be good news as it returns to trading today. At that time, the sheltered money flow will choose Robusta as a destination instead of speculating on the New York floor.On the other hand, a positive signal for Robusta, when Bloomberg recently published an article commenting on coffee yield this year. Accordingly, Bloomberg cited sources that said that Vietnam's Robusta coffee output this year may fall to the lowest level in 4 years, as farmers focus more on growing durian, and cash flow is concentrated in any area. movables.The harvest could fall more than 7% year-on-year to 1.67 million tonnes, according to the median estimate of exporters and traders in a Bloomberg survey.Last week, concerns about short-term supply shortage continued to support the bull market trend.London bourse had 3 gaining sessions and 1 falling session. The price of Robusta coffee for spot delivery in July increased by 62 USD, or 2.57%, quite strong increases.Similarly, the New York market had 2 up and 3 down sessions. The price of Arabica coffee for spot delivery in July increased by 2.10 cents, slight increases.
-------------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
Meanwhile on the New York Stock Exchange, at the end of the first session of the week, the price of Arabica coffee delivered in July 2023 fell 4.1 cents/lb, at 183,095 cents/lb, delivered in September 2023 fell 4 cents/lb, in at 181.6 cents/lb.
Experts said that favorable weather in coffee-harvesting regions in Brazil pushed this coffee item down, even though inventories on the New York Stock Exchange were low.
With Robusta, this could be good news as it returns to trading today. At that time, the sheltered money flow will choose Robusta as a destination instead of speculating on the New York floor.
On the other hand, a positive signal for Robusta, when Bloomberg recently published an article commenting on coffee yield this year. Accordingly, Bloomberg cited sources that said that Vietnam's Robusta coffee output this year may fall to the lowest level in 4 years, as farmers focus more on growing durian, and cash flow is concentrated in any area. movables.
The harvest could fall more than 7% year-on-year to 1.67 million tonnes, according to the median estimate of exporters and traders in a Bloomberg survey.
Last week, concerns about short-term supply shortage continued to support the bull market trend.
London bourse had 3 gaining sessions and 1 falling session. The price of Robusta coffee for spot delivery in July increased by 62 USD, or 2.57%, quite strong increases.
Similarly, the New York market had 2 up and 3 down sessions. The price of Arabica coffee for spot delivery in July increased by 2.10 cents, slight increases.
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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
