Update Coffee Market Price Today on June 22th, 2023

 UPDATE COFFEE MARKET PRICE TODAY 
on June 22th, 2023 
Ending the latest trading session, the price of Robusta coffee in London delivered in July 2023 decreased by 48 USD/ton at 2,759 USD/ton, delivered in September 2023 decreased by 44 USD/ton at 2,726 USD/ton. On the New York Stock Exchange, the price of Arabica coffee delivered in July 2023 fell 3.85 cents/lb, at 172.25 cents/lb, delivered in September 2023 fell 3.45 cents/lb, at 171.2 cents. /lb. The two coffee floors continued to decline, bringing Arabica to the lowest level in the past 2.5 months. Experts said that the decline in the price of coffee on both floors is inevitable after funds and speculators need to liquidate because they have entered the overbought zone.
There is a comment that financial investment funds have chosen Robusta floor as a safe haven. This has pushed the price of this coffee item up sharply in the past time, but also led to an increase in the volume of short contracts on the floor. In addition, Arabica continued to decline under the pressure of selling new crop from Brazil. While the world's largest coffee producers are delaying the purchase of coffee beans from Brazil, as they use up the stockpiles accumulated during the pandemic and wait for prices to drop. The current price level is still considered to be high, supported by the report that inventories on the floor remained at low levels, causing the market to still worry about short-term supply shortage. Besides, the market was also helped by the adjustment of monetary interest rates of many central banks around the world. The General Department of Vietnam Customs reported preliminary data that coffee exports in the first half of June reached 68,744 tons (about 1,145 million bags), bringing coffee exports from the beginning of the year to a total of 934,863 tons (about 15.58 million bags) down 1.36% over the same period last year.
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