Coffee Prices Today 11/2/2022: Coffee Prices Continue to Plunge

Vietnamese Coffee Exporter
Coffee prices today 11/2/2022

Coffee prices today 11/2/2022: Coffee prices fell slightly in the first meeting of the month related to the Fed meeting. Vietnam’s coffee exports in October 2022 are estimated to decrease by 19.5% over the same period last year, reaching about 80,000 tons.

Coffee prices today 11/2/2022

At the end of the last session, the price of Robusta coffee in London for delivery in January 2023 decreased by 14 USD / ton to 1,839 USD / ton, the price for delivery in March 2023 decreased by 13 USD / ton to 1,827 USD / ton.

Price of Robusta coffee traded in London – Coffee prices today 11/2/2022

Period Price Change % change Mass Highest The shortest Open door Open contract
01/23 1839 -14 -0.76% 7675 1865 1826 1863 49763
03/23 1827 -13 -0.71 % 2273 1851 1814 1845 21418
05/23 1816 -14 -0.77% 736 1845 1804 1845 11044
07/23 1811 -14 -0.77% 162 1845 1806 1845 2788
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 3.1 cents/lb to 174.6 cents/lb, and the price for delivery in March 2023 fell 3.85 cents/pound to 170.2. cents/pound. Coffee prices at the first meeting of the month fell slightly in the middle of the Fed meeting.

Price of Arabica coffee traded in New York – Coffee prices today 11/2/2022

Period PriceCoffee price Change % change Mass Highest The shortest Open door Open contract
12/22 174.6 -3.1 -1.74% 22476 180.6 173.8 177.85 71702
03/23 170.2 -3.85 -2.21% 18302 177 169.8 175.35 84568
05/23 168.55 -4.4 -2.54 % 8009 175.8 168.25 174.25 28653
07/23 167.35 -4.75 -2.76% 2724 174.8 167.05 173.15 13130
Unit: USD Cent/lb 1USD = 100cent 1Lb ~= 0.45Kg Trading unit: lot = 37,500 lb

Meanwhile, hedge funds are also scrambling to sell their trading positions before the close. As we get closer to the Federal Reserve interest rate announcement, more money is pouring into the safe-haven USD as usual. Investors are now expecting the Fed to keep the rate hike unchanged at 0.75% in the current meeting and possibly cut it to 0.5% at the December meeting.

At the beginning of the trading session on November 2 (Vietnam time), the US Dollar Index (DXY) measures the volatility of the dollar against 6 major currencies (EUR, JPY, GBP) in the US market. . , CAD, SEK, CHF) fell 0.02% to 111.55. The dollar fell against other major currencies as investors noted that the US Federal Reserve is likely to cut interest rates for the economy.

Coffee news today: Starbucks hosts two-day training event for 2,000 North American retail employees

A two-day training session is being held by the US coffee chain firm for its 2,000 North American shop managers in an effort to enhance staff and customer satisfaction.

Starbucks organized an extensive two-day training session for its North American retail staff in an effort to further enhance the consumer and employee experience.

2,000 District Managers, Area Directors, and Regional Vice Presidents from shops attend the two-day District Manager + Leadership Experience event on October 26–27, 2022. The business has a license and runs retailers all throughout Canada and the United States.

The leadership conference, which was the first for the Seattle-based firm since 2014, was described as a continuous investment in staff as part of Starbucks’ ongoing Reinvention plan.

This includes instruction geared on “mastering the art, forging bonds, speaking with impact, and resolving issues.” Schultz presented a new vision for the coffee business that is centered on the workers and the community in April 2022, during his first speech as interim CEO.

Following the rising consolidation trend in Starbucks’ U.S. company three months later, Schultz is committed to fostering shared accountability between management and staff as well as improved possibilities for employee progression.

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