Coffee Prices Today November 10, 2022: What is The Reason for The Decrease?

Vietnamese Coffee Exporter
Coffee Prices Today November 10, 2022

Coffee Prices Today November 10, 2022: The dollar rose after the results of the US midterm elections were announced. In the first 10 months of the year, Vietnam’s coffee exports still increased by 10.8% over the same period last year.

Coffee Prices Today November 10, 2022

At the end of the last session, the price of Robusta coffee in London delivered in January 2023 decreased by 12 USD / ton to 1819 USD / ton, and the price for delivery in March 2023 decreased by 8 USD / ton to 1808 USD / ton.

Price of Robusta coffee traded in London – Coffee Prices Today November 10, 2022

Period Price Change % change Mass Highest The shortest Open door Open contract
01/23 1819 -12 -0.66% 11735 1836 1790 1827 54773
03/23 1808 -8 -0.44% 8247 1823 1781 1812 22012
05/23 1800 -6 -0.33% 2542 1813 1774 1805 11422
07/23 1794 -6 -0.33% 456 1807 1770 1801 3764
Unit: USD($)/ Ton Coffee priceTrading unit: lot = 10 tons

 

On the New York Stock Exchange, arabica coffee for December delivery fell 1.3 cents/lb to 165.15 cents/lb, while March 2023 delivery fell 1.8 cents/lb 162. 35 cents/pound.

Price of Arabica coffee traded in New York – Coffee Prices Today November 10, 2022

Period PriceCoffee price Change % change Mass Highest The shortest Open door Open contract
12/22 165.15 -1.3 -0.78% 24510 168.45 163.65 164.9 49766
03/23 162.35 -1.8 -1.1 % 23347 166.1 161.15 163.6 98953
05/23 161.55 -1.85 -1.13% 8801 165.35 160.5 163 32063
07/23 160.85 -1.7 -1.05% 4794 164.7 160 162.25 13749
Unit: USD Cent/lb 1USD = 100cent 1Lb ~= 0.45Kg Trading unit: lot = 37,500 lb

 

As reported by Money Control, coffee prices over the past few weeks are unlikely to affect India’s coffee exports as most of the country’s coffee has already been shipped to consumers.

Most of the coffee lots are traded at the high prices that are common during the year and exporters are currently waiting for new shipments from the ongoing coffee crop in the country to sign export contracts.

India’s shipments totaled 353,226 tonnes from January 1 to November 4, up 9% year-on-year in 2021. Last year, the South Asian nation’s coffee exports hit a record metric tons, reaching 394,393 tons.

Different weather conditions have also meant that forecasts for the coffee harvest in Brazil and Vietnam, the two largest coffee-growing countries, have recently changed dramatically.

As a result, Brazil’s Food Supply Authority (Conab) has downgraded its coffee production forecast for the coffee year 2021-2022 (October 2021 – September 2022) to 50.38 million 60 kg bags in December compared with an estimated 53.43 million bags in May due to low rainfall and the effects of last year’s severe frosts.

Good sunny conditions in the following weeks lead to predictions of a more positive outlook for the current crop, dragging futures prices lower.

Coffee news: Bellwether expands the reach of electric roasters with Hub and On-Demand platforms

A software-enabled platform for larger-scale roasting and an online roasting marketplace for small enterprises are two significant new items from electric roaster Bellwether Coffee. The California Bay Area startup’s aggressive campaign against conventional barriers to commercial roasting, such as training, experience, or theoretical knowledge, is ongoing with both products.

The Bellwether ecosystem now includes green coffee sourcing and inventory management, and each new business-focused solution is built on the company’s own core roasting software and ability to automate the roasting process. inventory. The Bellwether Hub, a larger-scale roasting system, enables users to run multiple Bellwether machines simultaneously to handle higher volume requirements.

Each roaster in the Center, which is roughly the size of a refrigerator at home, is managed by a single Bellwether interface, allowing the operator to roast multiple coffee varieties at once or increase the roasting of various coffee varieties. single.

Bellwether claims that a four-unit Hub by Bellwethers will enable a single employee to generate roughly 2,500 pounds of coffee in a workweek with only about 2 minutes of labor each roast, including regular maintenance like daily vacuuming.

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