Coffee Price Today November 8, 2022: Robusta Continued to be Dragged Down

Vietnamese Coffee Exporter
Coffee price today November 8, 2022

Coffee price today November 8, 2022: The price of Robusta coffee on the London floor continued to fall deeply. The term for spot delivery in January 2023 decreased by 17 USD, to 1,852 USD/ton and the term for delivery in March 2023 decreased by 17 USD, down to 1,833 USD/ton, a slight decrease.

Coffee price today November 8, 2022

As for world coffee prices, Robusta coffee prices continued to be dragged down around US$1,850/ton, while Arabica continued to decline.

At the end of the session, the price of Robusta coffee on the London floor continued to fall deeply. The term for spot delivery in January 2023 decreased by 17 USD, to 1,852 USD/ton and the term for delivery in March 2023 decreased by 17 USD, down to 1,833 USD/ton, a slight decrease. Trading volume remained above average.

Price of Robusta coffee traded in London – Coffee price today November 8, 2022

Period Price Change % change Mass Highest The shortest Open door Open contract
01/23 1851 -18 -0.96% 6476 1882 1833 1861 53591
03/23 1833 -17 -0.92% 2316 1859 1814 1840 21863
05/23 1820 -15 -0.82% 676 1844 1800 1835 11247
07/23 1813 -14 -0.77% 246 1833 1796 1826 3606
Unit: USD($)/ Ton Coffee priceTrading unit: lot = 10 tons

In the same situation, the price of Arabica coffee on the New York Stock Exchange is still in a state of continuous decline. December 2022 spot futures fell another 5.80 cents to 169.95 cents/lb and March 2023 delivery futures fell another 5.90 cents to 165.75 cents/lb, very strong declines. . Trading volume is quite above average.

Price of Arabica coffee traded in New York – Coffee price today November 8, 2022

Period PriceCoffee price Change % change Mass Tallest The shortest Open door Open contract
12/22 170.55 -5.2 -2.96% 29678 177.55 166.45 175.7 63173
03/23 166.05 -5.6 -3.26% 25885 173.25 162.5 171.45 91649
05/23 164.9 -5.3 -3.11% 7749 171.7 161.25 170.75 29690
07/23 163.9 -5.05 -2.99% 2342 170.15 160.25 168.75 12645
Unit: USD Cent/lb 1USD = 100cent 1Lb ~= 0.45Kg Trading unit: lot = 37,500 lb

 

Coffee prices in the first session of the week fell on both exchanges, arabica lost 0.96%, and arabica lost 2.96%, in the context that capital flow is happening quite strongly in the US market, before the election day. midterm election. This election is predicted by analysts to have a strong impact on the stock market.

Robusta coffee prices fell fewer thanks to the trading position of hedge funds that increased their short-selling volume last week. The market is waiting for a buyback on the floor to balance the position.

Meanwhile, about the weather, still, favorable information about rain and sunshine is a good condition for coffee trees in the main coffee growing area to flower and bear fruit, promising a bountiful harvest in the future.

The demand for coffee in the world decreased because the global economy was affected by the conflict between Russia and Ukraine for a long time and showed no sign of abating, while inflation increased. It is forecasted that in the short term, Vietnam’s coffee exports will still face difficulties due to low demand and falling prices.

Generally, for the first nine months of 2022, the value of coffee exports to all regions increased over the same period in 2021. The highest increase was 97.2% of exports to Oceania; the lowest growth rate of 11.4% exports to Asia.

Coffee World News: Tres Marias of the UAE expands distribution throughout the MENA region

The alternative milk brand is increasing its MENA distribution to include hospitality establishments in Bahrain, Jordan, Oman, Qatar, and Saudi Arabia as it anticipates considerable category development over the following 12 months.

The Middle East and North Africa (MENA) area is getting a new line of plant-based dairy products from the Dubai-based coffee and milk substitute company Tres Marias. The firm is bringing its Barista Plant-Based Milk line to the Gulf Cooperation Council nations of Bahrain, Jordan, Oman, Qatar, and Saudi Arabia in addition to its home market of the UAE.

According to Tres Marias, the region’s café, hotel, and restaurant markets would be the first focus of the growth, with intentions to broaden into retail distribution by 2023.

Almond, soy, and oat varieties of plant-based milk are presently on the market, and coconut will follow shortly. Established in June 2019, Tres Marias Coffee began a distribution deal with Ally Coffee to distribute just its bagged coffee beans. Since then, the business in Dubai has evolved into the production of speciality instant coffee and coffee capsules.

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