Update Coffee Market Price Today on Sept 7th, 2023

UPDATE COFFEE MARKET PRICE TODAY on Sept 7th, 2023 

At the end of the trading session, Robusta coffee prices on ICE Europe - London had a mixed trend. November delivery futures increased by 3 USD, to 2,456 USD/ton, while future futures all decreased. Specifically, the delivery term in January 2024 decreased by 7 USD, to 2,360 USD/ton and the delivery term in March 2024 also decreased by 7 USD, to 2,306 USD/ton, slight increases/decreases. Trading volume is below average. In contrast, Arabica coffee prices on the ICE US - New York floor maintained an upward trend. Futures for December delivery added 0.35 cents to 153.80 cents/lb and March 2024 futures added 0.45 cents to 154.80 cents/lb, slight gains. Trading volume is above average. Robusta coffee prices continued their downward trend from the beginning of the session after the ICE - London inventory report soared earlier this week, ending a losing streak that lasted nearly 3 months. However, spot futures prices rebounded at the end of the session after reports that intraday inventories had decreased again. Specifically, ICE - London's report shows that inventory on Tuesday, September 5, decreased by 620 tons, or 1.77% compared to the previous day, to stand at 34,370 tons, continuing to cause concern. supply shortages.

Rumors that Brazil's exports in August reached a total of 3.29 million bags of all kinds of coffee, including 700,000 bags of Conilon Robusta, did not help the market alleviate supply concerns, in the face of the forecast El Nino weather phenomenon. will appear later this year and will cause partial drought in the main coffee producing countries around the Pacific rim. It is forecasted that Indonesia has completed harvesting the current coffee crop, from April 2023 to March 2024, with an estimated output of 10.3 million bags, lower than the 3-year average output. Recently it was 11.8 million bags, not a "catastrophic" crop loss like some forecasts made at the beginning of the harvest. According to the General Statistics Office of Vietnam, coffee exports in August were estimated at about 90 thousand tons, down 20.57% over the same period last year, bringing coffee exports in the first 8 months of this year to a total of 1.2 million tons. million tons, down 4.9% over the same period last year. According to observers, coffee exported from Vietnam is almost only delivered directly to foreign businesses using the AAS method, with no record of any goods being delivered to the London floor to participate in the auction.

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