Coffee Price Today on January 8th, 2024

COFFEE PRICE TODAY ON JAN 8TH, 2024

At the end of last week's trading session, the price of Robusta coffee in London for delivery in March 2024 increased by 9 USD/ton, at 2,795 USD/ton, for delivery in May 2024 increased by 13 USD/ton, at 2,727 USD/ton.

On the New York floor, the price of Arabica coffee delivered in March 2024 decreased by 2.75 cents/lb, at 182.8 cents/lb, for delivery in May 2024 decreased by 2.4 cents/lb, at 181.1 cents. /lb. 

In the first week of 2024, the London market had 3 down sessions and 2 up sessions. Robusta coffee futures prices for March delivery decreased by a total of 46 USD. Meanwhile, the New York market had 4 decreasing sessions and 1 increasing session. Arabica coffee futures prices for March delivery decreased by a total of 5.50 cents.

Last week, DXY increased 0.40% and US economic data was revised downward, causing the market to express skepticism in speculation that the Fed will cut interest rates at the upcoming March executive meeting. This causes speculative capital flows to continue to leave commodity markets to find shelter. Most funds and speculations continued to liquidate their previously held quite high buying positions.

Robusta coffee in Southeast Asia is currently very difficult to buy because farmers are expecting higher prices, causing businesses to raise the price difference (Dif.) quite high compared to the futures price in London.

Robusta coffee inventories certified and monitored by the London exchange, as of January 5, decreased by 610 tons, equivalent to 1.74% compared to a week earlier, down to a registered level of 34,400 tons (about 573,333 tons). bags, 60 kg bags), approximately the low level in early September 2023. The above two pieces of information have contributed to supporting domestic coffee prices to continue to increase even though the London exchange is still closed for trading.

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