Update Coffee Market Price Today on Dec 22th, 2023

COFFEE MARKET PRICE TODAY ON DEC 22TH, 2023

Coffee price today December 22: Robusta increased nearly 200 USD, highest in history.

At the end of the trading session, the price of Robusta coffee on the London floor at 4:12 a.m. on December 22, 2023 increased sharply again, increasing from 63 - 172 USD/ton, ranging from 2,698 - 3,201 USD/ton. Specifically, the delivery term in January 2024 is 3,179 USD/ton (an increase of 172 USD/ton); Delivery term in March 2024 is 2,964 USD/ton (up 94 USD/ton); Delivery term in May 2024 is 2,870 USD/ton (up 77 USD/ton) and delivery term in July 2024 is 2,791 USD/ton (up 63 USD/ton).

Similarly, the price of Arabica coffee on the New York floor on the morning of December 22 turned green, a relative increase of over 1% compared to the previous trading session. Specifically, the delivery term in March 2024 is 193.60 cents/lb (up 1.57%); May 2024 delivery period is 191.10 cents/lb (up 1.57%); July 2024 delivery period is 190.95 cents/lb (up 1.52%) and September 2024 delivery period is 191.35 cents/lb (up 1.46%).

Brazilian Arabica coffee prices on the morning of December 22, 2023 increased slightly across delivery terms. Specifically, the delivery term in March 2024 is 236.50 USD/ton; May 2024 delivery period is 237.30 USD/ton; July 2024 delivery is 237.10 USD/ton and September 2024 delivery is 231.00 USD/ton.

After an adjustment session, Robusta continued to rise to its highest level in history. Expert Nguyen Quang Binh analyzed that the above increase is supported by information that the US Department of Agriculture has just released a report reducing global Robusta production from 78 million bags to 74.1 million bags.

Besides, the falling USD also supported coffee on both floors. In the early morning of December 22, 2023, on the US market, the US Dollar Index (DXY) measuring the fluctuation of the greenback with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased by 0, 61%, down to 101.80.

The USD hit its lowest level in a week, as US stocks recovered and investors prepared for US inflation data to be released today.

Adding to the support, there is also a preliminary data report from the General Department of Vietnam Customs showing that coffee exports in the first 11.5 months of this year decreased by 8.41% over the same period. And the news that the Asia-Europe maritime transport route through the Suez Canal was attacked by the Houthi group made the demand for immediate delivery even more stressful.

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