Update Coffee Market Price Today on May 26th, 2023

 UPDATE COFFEE MARKET PRICE TODAY 

on May 26th, 2023 

At the end of the latest trading session, the price of Robusta coffee in London delivered in July 2023 decreased by 20 USD/ton at 2,553 USD/ton, delivered in September 2023 decreased by 22 USD/ton at 2,508 USD/ton. Meanwhile on the New York Stock Exchange, the price of Arabica coffee delivered in July 2023 fell 5.3 cents/lb, at 182.7 cents/lb, delivered in September 2023 fell 5.1 cents/lb, at 180 .65 cents/lb. Yesterday, the dollar rose gallopingly, causing the markets of agricultural products, gold and crude oil to fall. At dawn on May 26, 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) increased by 0.33 %, reaching 104.21. The dollar rose for a fourth session in a row and touched a two-month high, as new data released in the United States pointed to an economy that is resilient even after cycles of Fed rate hikes. US Federal Reserve (Fed).

Arabica had the strongest influence on the USD when it fell deeply. However, compared to the beginning of the year, the current coffee price has increased by about 40% in Vietnam. The demand for Robusta coffee is increasing because consumers around the world are having to save due to the effects of inflation and economic recession. Drinking coffee every day is a hard habit to break, but Arabica beans are too expensive. Therefore, many customers look to cheaper Robusta beans to mix with Arabica beans to reduce costs. Meanwhile, Vietnam's Robusta coffee output in the 2022-2023 crop is estimated to decrease by 10-15% compared to the previous crop year. This year's forecast is only about 1.5 million tons due to unfavorable weather and the wave of crop shifting. At this time, most of the coffee in the population is no longer available, businesses are under financial pressure, so they can buy anywhere to sell, few businesses still have stock to sell. ------------ 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