COFFEE PRICE TODAY ON JAN 30TH, 2024- Price robusta continued to increase while Arabica decrease

COFFEE PRICE TODAY ON JAN 30TH, 2024- Price robusta continued to increase while Arabica decrease

At the end of the first trading session of the week, Robusta coffee prices on ICE Europe - London extended their upward streak to the fifth session. March delivery futures increased by 6 USD, to 3,275 USD/ton and May delivery terms increased by 10 USD, to 3,122 USD/ton, slight increases, while distant delivery terms all decreased. Trading volume is quite above average.

On the contrary, the price of Arabica coffee on ICE US - New York floor reversed and decreased. March delivery futures decreased by 4.60 cents, to 189.25 cents/lb and May delivery futures decreased by 3.40 cents, to 186.05 cents/lb, quite good decreases. Trading volume remains well above average.

The price of green coffee in the Central Highlands provinces increased by 400 - 500 VND, fluctuating in the range of 77,300 - 78,200 VND/kg.

In the first trading session of the week, world coffee futures prices appeared to be quite stable on the ICE - Europe floor and depreciated quite strongly on the ICE - US floor.

Across the 35 coffee-growing states in most areas, there is concern that Brazilian coffee output in the 2024 crop will not meet expectations due to the impact of this year's El Nino weather phenomenon, which has made farmers uninterested. which sells out at this time.

Under the pressure of the upcoming "Super Wednesday" (January 31) when both the US Federal Reserve (Fed) and the Brazilian Monetary Policy Committee (Copom) will have a tense day surrounding decisions about monetary policy. DXY increased 0.79%, bringing the Reais exchange rate down to 1 USD = 4.9497 R$. The market expects the Fed Chairman to have a dovish speech as soon as he decides to cut USD interest rates this period.

The Robusta - London market recovered in price near the end of the session even though it had previously increased significantly after a report from the General Statistics Office of Vietnam estimated that exports in January reached about 210,000 tons, up 47.6% over the same period. last year, as concerns about Robusta supply from Asian countries remained and reports of low ICE inventories continued to provide support.

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