Coffee Price Chart December 7, 2022: Arabica fell more than Robusta

Vietnamese Coffee Exporter
Coffee Price Chart December 7, 2022

Coffee Price Chart December 7, 2022: The price of Robusta coffee in London for January delivery in January 2023 increased by $2/ton to $1,918/ton. The price of arabica coffee delivered in January 2023 decreased by 3.3 cents/lb to 160.2 cents/lb.

Coffee Price Chart December 7, 2022

At the end of the last session, the price of Robusta coffee in London for January delivery in January 2023 increased by $2/ton to $1,918/ton, while the price for March delivery in March of 2023 decreased by $9/ton to $1,868/ton.

Price of Robusta coffee traded in London – Coffee Price Chart December 7, 2022

Period Price Change % change Mass Highest The shortest Open door Open contract
01/23 1918 +2 +0.1 % 6329 1934 1912 1920 36363
03/23 1868 -9 -0.48% 9404 1887 1863 1876 38956
05/23 1845 -11 -0.59 % 1714 1862 1841 1856 15207
07/23 1827 -13 -0.71 % 168 1845 1824 1840 5931
Unit: USD($)/ Ton Coffee priceTrading unit: lot = 10 tons

 

Meanwhile, on the New York Stock Exchange, the price of arabica coffee delivered in January 2023 decreased by 3.3 cents/lb to 160.2 cents/lb, the price of arabica coffee delivered in May 2023 decreased by 3.2 cents/pound to 160.9 cents/pound. Coffee prices on both exchanges are trending down after recovering in the past few days.

Price of Arabica coffee traded in New York – Coffee Price Chart December 7, 2022

Period PriceCoffee price Change % change Mass Highest The shortest Open door Open contract
03/23 160.2 -3.3 -2.02% 20830 164.85 159.05 163.85 110881
05/23 160.9 -3.2 -1.95% 6528 165.2 159.75 164.7 45130
07/23 161.35 -3.15 -1.91 % 4519 165.5 160.1 165 18920
09/23 161.25 -3.25 -1.98% 1325 165.3 160 165 9196
Unit: USD Cent/lb 1USD = 100cent 1Lb ~= 0.45Kg Trading unit: lot = 37,500 lb

 

The rise in coffee futures due to a drop in USDX helped EM currencies regain value and spurred funds and speculators back into the market for increased buying following speculation that the Federal Reserve would rein in gains. interest rates still exist. 

Next session At the beginning of the session on December 8 (Vietnam time) in the US market, the US Dollar Index (DXY) measures the fluctuations of the USD with 6 major currencies (EUR) namely JPY, GBP, CAD, SEK, CHF) fell 0.39% to 105.19. The dollar weakened against major currencies on concerns that rising interest rates could push the US economy into a recession.

Colombia is a leading supplier of processed Arabica coffee. The country produced 1.06 million bags of clean Arabica coffee (60 kg) in November 2022, down 6% from the same month. Last year, due to heavy rain and inclement weather, exports fell 25% to 854,000 bags. Meanwhile, the harvest at Vietnam’s top Robusta producer is 60% complete, with some concerns. Recently, it has been raining and windy, causing many people to worry about the quality.

World Coffee News: EU agrees on new ‘No Deforestation’ rules affecting coffee

European lawmakers are working towards a landmark agreement designed to cut deforestation caused by products sold or exported by the EU, particularly coffee.

If completed as expected, the new regulations will have far-reaching implications for the EU’s coffee industry as well as for upstream actors, such as producers and exporters.

The draft new regulations, approved by the EU  Council and Parliament provisionally, call for a deforestation risk assessment, mandatory risk-based checks, new supply chain due diligence obligations for EU businesses, and financial penalties such as fines and loss of access to government funds.

Coffee, a well-known cause of tropical deforestation and forest degradation, is clearly named among the few agricultural sectors subject to the new rules.

Although the coffee roasting industry in places like the EU and US has been slow or completely unwilling to address its role in rainforest deforestation, anecdotal evidence and academic research suggest a  need for Increased global coffee led to a rapid increase in deforestation, as producers shifted to full production. – Producing monoculture to maximize the yield of short-term crops.

Source: https://kinhtedothi.vn/, https://dailycoffeenews.com/

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