Coffee price today November 9, 2022: Robusta dropped to less than 1830 USD/ton

Vietnamese Coffee Exporter
Coffee price today November 9, 2022

Coffee price today November 9, 2022: The price of Robusta coffee in London delivered in January 2023 decreased by 20 USD / ton to 1,831 USD / ton.

Coffee price today November 9, 2022

Ending the last trading session of the week, the price of Robusta coffee in London delivered in January 2023 decreased by 20 USD / ton to 1,831 USD / ton, and the price for delivery in March 2023 decreased by 17 USD / ton to 1,816 USD.

Price of Robusta coffee traded in London – Coffee price today November 9, 2022

Period Price Change % change Mass Highest The shortest Open door Open contract
01/23 1831 -20 -1.08% 6036 1868 1827 1864 53347
03/23 1816 -17 -0.93% 3616 1849 1814 1840 21712
05/23 1806 -14 -0.77% 2300 1836 1806 1830 11229
07/23 1800 -13 -0.72% 1107 1830 1800 1823 3745
Unit: USD($)/ Ton Coffee priceTrading unit: lot = 10 tons

 

On the New York Stock Exchange, the price of arabica coffee delivered in December 2022 fell 4.1 cents/lb to 166.45 cents/lb, and the price for delivery in March 2023 fell 1.9 cents/pound to 164.15 cents/pound. Coffee prices on both exchanges continued to decline as more fundamental information became available.

Price of Arabica coffee traded in New York – Coffee price today November 9, 2022:

Period PriceCoffee price Change % change Mass Highest The shortest Open door Open contract
12/22 166.45 -4.1 -2.4 % 29762 172.55 163.8 171.5 56354
03/23 164.15 -1.9 -1.14% 27986 167.95 161.55 167.85 94953
05/23 163.4 -1.5 -0.91% 9538 166.75 160.8 166.3 31412
07/23 162.55 -1.35 -0.82% 3925 165.65 159.9 165.5 12819
Unit: USD Cent/lb 1USD = 100cent 1Lb ~= 0.45Kg Trading unit: lot = 37,500 lb

 

However, coffee futures missed the opportunity to rise as USDX fell as funds and speculators remained hesitant about supply from Brazil’s next crop, which is forecast to be very good. The latest is HedgPoint Brazil’s upcoming production is expected to increase by 10% to 60.2 million bags in the 2022 harvest.

In India, coffee production is low while production costs are increasing compared to coffee-producing countries. For example, in Brazil, labor costs account for 25% of total production costs, but in India up to 65%. India can reduce production costs to some extent through mechanization, but the topographical conditions of the coffee-producing regions in India limit this possibility.

While other countries grow coffee on flat land, India grows coffee in the shade and highlands. High input costs lead to high production costs and make it difficult for coffee farmers in this South Asian country.

In the past, production costs, which should have increased by an average of 4% to 5% per year, have increased by at least 20% per year. In the same year, the Indian coffee industry is also facing a labor shortage while labor costs are rising. They are now heavily dependent on unskilled migrant workers, which means they have to spend a lot of time and effort training workers.

Coffee news: Phuc Long prepares to expand kiosks in the context of Masan’s WIN store opening

Vietnam’s Masan Group plans to open at least 50 new WIN retail stores by the end of 2022, expanding the kiosk offering of Phuc Long Coffee & Tea chain. Vietnamese retail giant Masan Group plans to expand the kiosk presence of Phuc Long Coffee & Tea in its growing network of WIN stores.

In September 2022, Masan Group launched the WIN retail ‘ecosystem’, integrating the company’s WinMart + convenience store form with other businesses, including the Phuc Long Coffee & Tea chain. In the three months to September 30, 2022, Masan Group opened 30 WIN stores. The company says the concept boosted sales more than 20% in the quarter compared with the previous grocery-only model.

Along with the plan to scale this concept to about 80-120 WIN stores by the end of 2022, Masan Group said it will focus on developing a ‘winning model’ for the Phuc Long kiosk model inside. WIN stores. Masan Group said the Phuc Long kiosk inside the first wave of WIN stores contributed to 116% daily revenue growth compared to the kiosks in the group’s independent WinMart+ stores.

Phuc Long opened 15 stores in Q3 with the next 30 expected to open before the end of the year. Masan Group is looking to improve Phuc Long’s revenue and profit in the fourth quarter of 2022 before ‘super-scaling’ the Vietnamese coffee industry next year.

In the first nine months of 2022, Phuc Long achieved sales of 1.1 million VND (46 million USD). Its independent stores achieved sales of VND 761 billion ($30.6 million).

Masan Group first acquired a 20% stake in Phuc Long in May 2021 for $15 million. The company increased its stake in Phuc Long Coffee & Tea to 84% in August 2022, bringing the value of the chain to $453 million.

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