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Update Coffee Market Price Today on June 13th, 2023
UPDATE COFFEE MARKET PRICE TODAY on June 13th, 2023 Ending the first trading session of the week, the price of Robusta coffee in London delivered in July 2023 decreased by 22 USD/ton at 2,706 USD/ton, delivered in September 2023 decreased by 21 USD/ton at 2,681 USD/ton.
On the New York Stock Exchange, the price of Arabica coffee delivered in July 2023 fell 5.1 cents/lb, at 185.55 cents/lb, delivered in September 2023 fell 5.15 cents/lb, at 181.5 cents/lb.
The 2 futures coffee exchanges continued to decline after the overheated rally. The dollar rose as investors awaited inflation data and the US interest rate meeting to be released this week.
On the morning of June 13, 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 0.07% , reaching the 103.63 mark.
Monetary policy meetings at the Fed, European Central Bank (ECB) and Bank of Japan (BOJ) will dominate the market this week.
Robusta coffee prices are trending down because they are deep in the overbought zone and are pressured by the rising USD.
However, according to the assessment, the market still has concerns about supply shortage with reports that inventories on the floor continue to decline. Last week, the price of green beans in Vietnam's domestic market set an all-time high.
The extreme weather caused by El Nino raised concerns that Robusta coffee beans from major producers such as Vietnam and Indonesia would be affected, leading to skyrocketing prices. El Nino is associated with below-average rainfall and higher temperatures, both of which reduce coffee production.
Analysts say the US Department of Agriculture (USDA) forecasts that the world's robusta production will fall by about a fifth.
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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
Ending the first trading session of the week, the price of Robusta coffee in London delivered in July 2023 decreased by 22 USD/ton at 2,706 USD/ton, delivered in September 2023 decreased by 21 USD/ton at 2,681 USD/ton.
On the New York Stock Exchange, the price of Arabica coffee delivered in July 2023 fell 5.1 cents/lb, at 185.55 cents/lb, delivered in September 2023 fell 5.15 cents/lb, at 181.5 cents/lb.
The 2 futures coffee exchanges continued to decline after the overheated rally. The dollar rose as investors awaited inflation data and the US interest rate meeting to be released this week.
On the morning of June 13, 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 0.07% , reaching the 103.63 mark.
Monetary policy meetings at the Fed, European Central Bank (ECB) and Bank of Japan (BOJ) will dominate the market this week.
Robusta coffee prices are trending down because they are deep in the overbought zone and are pressured by the rising USD.
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
