Coffee price today August 31, 2022: Coffee prices continued to fall. At the end of the trading session on August 30, the price of Robusta coffee on ICE Futures Europe – London for November delivery decreased by 18 USD (0.79%).
Coffee price today August 31, 2022
Coffee prices continued to fall. At the end of the trading session on August 30, the price of Robusta coffee on ICE Futures Europe – London for November delivery decreased by 18 USD (0.79%).
The price of arabica coffee on the ICE Futures US – New York for delivery in December 2022 also fell another 1.45 cents (0.61%) to trade at 235.15 cents/lb during spot time, down 1.70 cents/pound (0.74%) in March and is trading at 228.75 cents/lb. The volume is above average.
Bullish factors are expected in the market. Waiting for the qualified inventory report in that bag. The bearish factor revolved around causing concern about rumours that the USD operating rate in the market increased sharply at the ministry meeting on September 22. The US Federal Reserve (Fed) and the trading position of management funds. capital management is in a high net buying position.
Extreme weather events wreak havoc everywhere, including in major manufacturing areas. Droughts and heat waves wreak havoc in Europe, the United States and Brazil, and flooding in the United States and La Niña will bring rain and flooding. in the United States and other countries have triggered the price of agricultural products, or at least traders have to include inflation in the prices of agricultural products.
World coffee news
Increased risk aversion amid the possibility of a global recession prompted the US Federal Reserve (Fed) to tighten monetary policy. In the 2022-2023 crop year, total sales from Brazil’s Arabica and Robusta coffee crops are expected to reach 64.3 million bags, up 6.2 million bags from the previous crop. In Vietnam, production is forecast at 30.9 million bags, down 700,000 bags compared to the previous crop year. Last year’s record. The planted area is forecast to be unchanged from last year, with more than 95% of total production remaining high.
Fertilizer prices have increased to 70% in the past 6 months, while domestic coffee prices have remained stable, causing farmers to reduce fertilizer use, which may lead to a decrease in yield and output compared to the previous year. Coffee exports Stocks from Vietnam are expected to decrease by 1 million bags to 25 million bags in the 2022-2023 crop year, and stocks are mostly unchanged at 3.5 million bags.