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Update Coffee Market Price Today on June 12th, 2023
UPDATE COFFEE MARKET PRICE TODAY on June 12th, 2023 Vietnam's domestic coffee market increased by an average of 100-300 VND/kg compared to the same period yesterday. The high demand for buying, the scarcity of the domestic market continues to push up coffee prices even on weekends - the time when world exchanges are closed.Ending last week's trading session, the price of Robusta coffee in London delivered in July 2023 decreased by 32 USD/ton at 2,728 USD/ton, delivered in September 2023 decreased by 24 USD/ton at 2,702 USD/ton.
On the New York Stock Exchange, the price of Arabica coffee delivered in July 2023 fell 4.2 cents/lb, at 190.65 cents/lb, delivered in September 2023 fell 3.7 cents/lb, at 186.65 cents. /lb.
Summarizing last week, the price of Robusta coffee for spot delivery in July increased by 153 USD. The price of Arabica coffee for spot delivery in July increased by 10.3 cents. The price of domestic coffee increased by an average of 3,000 VND/kg.
Commenting on the recent increase of Robusta, the reason is that the supply is not much, decreasing from both Vietnam to Brazil and Indonesia. Besides, there is fear of severe weather with many forecasts showing that this year El Nino will raging.In the short term, a cold air mass from the south of Brazil is moving towards the Southeast, the main coffee producing region, which could cause frost and subsequent rains, disrupting operations. coffee harvest.
In the long term, the El Nino phenomenon may cause coffee production in Brazil to decline in the next crop year due to a sudden increase in rainfall, reducing the suitability for the growth process of coffee in Brazil.
In terms of macro, traders are concerned that the Fed will continue to adjust interest rates, leading to a high USD leading to higher interest rates, making it more difficult for businesses to buy goods.------------
CONTACT INFORMATION:
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.Contact person: Ms. Windy Ngo
Phone/Whatsapp/Wechat/Line/Viber: +84 932 680 925Email: sales1@vietthien.com
Vietnam's domestic coffee market increased by an average of 100-300 VND/kg compared to the same period yesterday. The high demand for buying, the scarcity of the domestic market continues to push up coffee prices even on weekends - the time when world exchanges are closed.
Ending last week's trading session, the price of Robusta coffee in London delivered in July 2023 decreased by 32 USD/ton at 2,728 USD/ton, delivered in September 2023 decreased by 24 USD/ton at 2,702 USD/ton.
On the New York Stock Exchange, the price of Arabica coffee delivered in July 2023 fell 4.2 cents/lb, at 190.65 cents/lb, delivered in September 2023 fell 3.7 cents/lb, at 186.65 cents. /lb.
Summarizing last week, the price of Robusta coffee for spot delivery in July increased by 153 USD. The price of Arabica coffee for spot delivery in July increased by 10.3 cents. The price of domestic coffee increased by an average of 3,000 VND/kg.
In the short term, a cold air mass from the south of Brazil is moving towards the Southeast, the main coffee producing region, which could cause frost and subsequent rains, disrupting operations. coffee harvest.
In the long term, the El Nino phenomenon may cause coffee production in Brazil to decline in the next crop year due to a sudden increase in rainfall, reducing the suitability for the growth process of coffee in Brazil.
In terms of macro, traders are concerned that the Fed will continue to adjust interest rates, leading to a high USD leading to higher interest rates, making it more difficult for businesses to buy goods.
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CONTACT INFORMATION:
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.Contact person: Ms. Windy Ngo
Phone/Whatsapp/Wechat/Line/Viber: +84 932 680 925
Email: sales1@vietthien.com
