Update Coffee Market Price Today on Oct 23th, 2023

COFFEE MARKET PRICE TODAY ON OCTOBER 23TH, 2023

At the end of the session, the price of Robusta coffee on the London floor at 4:40 a.m. on October 23, 2023 continued to be stable and is at a high price, ranging from 2,297 - 2,615 USD/ton. Specifically, the delivery term in November 2023 is 2,577 USD/ton; Delivery term January 2024 is 2,479 USD/ton; Delivery term in March 2024 is 2,422 USD/ton and delivery term in May 2024 is 2,394 USD/ton.

Similarly, the price of Arabica coffee on the New York floor on the morning of October 23 tends to be stable and is also at a fairly high price, ranging from 160.35 - 166.80 cents/lb depending on the term. delivery. Specifically, the delivery term in December 2023 is 165.25 cents/lb; March 2024 delivery period is 164.40 cents/lb; May 2024 delivery period is 164.65 cents/lb and July 2024 delivery period is 165.05 cents/lb.

Brazilian Arabica coffee prices on the morning of October 23, 2023 were relatively stable, short-term delivery terms decreased slightly, however long-term delivery terms increased significantly compared to the previous trading session. Specifically, the delivery term in December 2023 is 196.75 USD/ton; March 2024 delivery is 199.50 USD/ton; Delivery in May 2024 is 202.30 USD/ton and delivery in September 2024 is 196.35 USD/ton.

Vietnam Commodity Exchange (MXV), said coffee supply is still scarce in Vietnam in the context that old crop output is almost gone, and new crop coffee is facing obstacles during the harvesting process. . This makes the amount of coffee exported up to now still gloomy. According to the General Department of Customs, cumulative coffee export turnover from the beginning of 2023 to the end of October 15 decreased by 8% compared to the same period in 2022.

Along with that, difficulties in transporting coffee in Brazil lead to concerns about limiting the amount of goods exported at present. Exporters in Brazil are complaining about a shortage of trucks and containers to transport coffee. At the same time, widespread rain in the southern region prolonged waiting times for ships at Santos port, the main place for transporting coffee. The above difficulties delay the time and quantity of exported goods.

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