COFFEE PRICE TODAY ON FEB 19TH, 2024- Robusta prices increased by 14% since the beginning of the year

COFFEE PRICE TODAY ON FEB 19TH, 2024- Robusta prices increased by 14% since the beginning of the year

The price of raw material of coffee today February 19 in Vietnam is in the range of 80,300 - 81,400 VND/kg. Even though the two world trading floors were closed for the weekend, domestic coffee prices still increased sharply. Continuous concerns about supply, along with record low inventory on the floor, pushed Robusta up 14% since the beginning of the year.

A report by the International Coffee Organization (ICO) shows that Robusta prices have increased to their highest level in 30 years due to concerns about tight supply in Vietnam - the world's largest Robusta exporter. 

Continuous concerns about the supply situation, especially in Southeast Asia, along with record low inventories on ICE have pushed Robusta up 14% since the beginning of the year. The upward momentum in Vietnam is even stronger as traders are still holding back coffee beans in anticipation of higher prices. This further exacerbates supply problems. 

At the end of last week's trading session, the price of Robusta coffee in London for delivery in March 2024 increased by 26 USD/ton, at 3,231 USD/ton, for delivery in May 2024 increased by 33 USD/ton, at 3,141 USD/ton. 

On the New York floor, the price of Arabica coffee delivered in March 2024 increased by 1.55 cents/lb, at 190.85 cents/lb, for delivery in May 2024 increased by 1.55 cents/lb, at 186.7 cents/lb.

Last week, the business position of the two exchanges was still overbought, but inventory on the London floor continued to decrease. The first notification date (FND), for New York is February 21 and for London is February 26, has prompted funds and speculation to balance net positions to minimize risks in the past week. At the end of last week, the London exchange had 3 decreasing sessions at the beginning of the week and 2 consecutive increasing sessions at the end of the week. The price of Robusta coffee for March delivery decreased by a total of 118 USD, and for May delivery by a total of 76 USD.

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