Coffee Price Today November 24, 2022: Turn Back to Reduce Shock

Vietnamese Coffee Exporter
Robusta Coffee Price Today

Coffee Price Today November 24, 2022: the price of Robusta coffee delivered online in London in January 2023 registered at $ 1,814 / ton after decreasing by 1.09%.

Coffee Price Today November 24, 2022

The price of coffee in the world market fell, so the price of Robusta coffee delivered online in London in January 2023 registered at $ 1,814 / ton after decreasing by 1.09%, equivalent to $ 20.

Price of Robusta coffee traded in London – Coffee Price Today November 24, 2022

Period Price Change % change Mass Highest The shortest Open door Open contract
01/23 1814 -20 -1.09% 10177 1858 1797 1840 55048
03/23 1790 -14 -0.78% 6317 1824 1779 1810 25924
05/23 1780 -11 -0.61 % 1811 1812 1770 1809 13655
07/23 1770 -12 -0.67% 269 1803 1764 1797 5776
Unit: USD($)/ Ton Coffee priceTrading unit: lot = 10 tons

The price of arabica coffee delivered in New York in March 2023 reached 162.75 US cents/lb, down 1.18% (equivalent to 1.95 US cents) at the time of the survey at 7:20 am Vietnam time).

Price of Arabica coffee traded in New York – Coffee Price Today November 24, 2022

Period PriceCoffee price Change % change Mass Highest The shortest Open door Open contract
03/23 162.75 -1.95 -1.18% 15755 167.55 160.7 165.7 109963
05/23 162.95 -1.45 -0.88% 6741 167.1 161 165.4 40457
07/23 162.7 -1.2 -0.73% 2310 166.25 160.65 164.9 17130
09/23 162.15 -1.1 -0.67% 1160 165.3 159.85 164.5 8351
Unit: USD Cent/lb 1USD = 100cent 1Lb ~= 0.45Kg Trading unit: lot = 37,500 lb

 

2022 is considered a successful year for Vietnam’s coffee industry when the output and selling price reached the highest level in recent years, thereby continuing to occupy the 2nd position in the world in terms of coffee export output Brazil.

Contrary to the evolution of export coffee prices, domestic and world coffee prices have continuously adjusted downward since the end of August due to favorable weather in Brazil improving the supply outlook, while the instability of The global economy can reduce consumer demand.

Vanusia Nogeira, executive director of the World Coffee Organization (ICO), is concerned that inflation and workers’ wages will not rise over time affecting coffee consumption at chain stores and restaurants row. Instead, she hopes people will drink more coffee at home.

Concern for the specialty coffee business group, but a prospect for the robust group of coffee companies is positive. Robusta coffee is cheap and is a raw material for the production of instant coffee.

Meanwhile, Vietnam’s instant coffee exports have tended to increase rapidly in recent years. This is expected to have a positive impact on Vietnamese coffee and thereby shape the Vietnamese coffee market. New prospects for the coffee industry.

World coffee news: Retail coffee plays an important role in JM Smucker’s sales growth

Retail-packaged coffee was JM Smucker’s second-quarter staple, contributing strongly to the coffee, food, and pet food maker’s $2.2 billion in sales. JM Smucker credited its US retail coffee division for a strong contribution to strong second-quarter sales growth. 

Reportedly for the three months that ended October 31, 2022, JM Smucker’s coffee business saw revenue growth of 10%, reaching $710 million. Total company revenue increased 8% to $2.2 billion, including 9% revenue growth for JM Smucker’s US pet food retail division, 14% for business international and away from home, and a 2% drop in sales for retail consumer goods in the United States.   

The company raised its full-year 2023 financial outlook, forecasting revenue growth of 6.5%. However, it cites ongoing cost inflation and supplies chain volatility as potential obstacles over the next six months. 

JM Smucker manages a range of home food and beverage products that the company advertises as available in more than 80% of homes in the United States. Featured JM Smucker brands include Folgers, Café Bustelo and Dunkin’ licensed retail and home coffee lines.   

Source: https://www.worldcoffeeportal.com/

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