Coffee Prices Today September 5, 2022: The price of Robusta coffee on ICE Futures Europe – London for delivery in November decreased slightly by 5 USD (0.22%) to trade at 2,223 USD/ton.
Coffee Prices Today September 5, 2022: Robusta Slightly Decreased
Ending the session on September 2, the price of Robusta coffee on ICE Futures Europe – London for delivery in November decreased slightly by 5 USD (0.22%) to trade at 2,223 USD/ton. The lead trading period January 2023 is down $2 (0.09%) to trade at $2,215/ton. Low trading volume.
The price of arabica coffee on the ICE Futures US – New York floor dropped sharply; December 2022 delivery fell 3.70 cents (1.59%) and traded at 228.8 cents/pound for spot delivery. March 2023, down 3.65 cents a pound. lb (1.62%), trading at 222.10 cents/lb. The average trading volume is low.
Coffee futures prices have been on a downward trend over the past week, compounding the decline on both exchanges due to greater risk aversion following the announcement of the Governor of the Federal Reserve (Fed) at the Jackson Hole conference. That interest rates fall sharply, reverse interest rate policy to avoid inflation, although this can make life difficult for companies and individuals when reporting economic indicators with negative signs, contrary to Contrary to the market falling continuously. In general, the price of Robusta coffee has had 4 decreasing sessions in the past week. In a row and 1 session at the beginning of the week, the decrease was quite serious.
Spot Robusta coffee prices fell by a total of $56 (2.46%) to $2 in January of $11,223/ton. The trading volume is below average. Meanwhile, the price of arabica coffee had 3 sessions of decrease and 2 sessions of decrease (strongly decreased), both at 9.30 cents (3.91%), down at 228.80 cents/lb.
Average trading volume. On Monday, August 29, stocks of Robusta coffee, certified and monitored by the London exchange, fell by 720 tons or 0.75% less than a week. The previous stock was recorded at 95,760 tons (equivalent to 1,596,000 bags, 60 kg bags). Recorded the sixth consecutive week of decline.
World Coffee News: Half of the Albanian coffee shops close due to rising investment costs
In some areas of Tirana (Albania), up to half of the cafes had to close due to increased investment costs, including energy and used products. negative. As a result, consumer spending fell, according to Exit News.
Albania is a country of coffee drinkers and has the most cafes per capita, with an impressive statue of 654 restaurants per 100,000 inhabitants. The COVID-19 pandemic has put the country under an embargo for almost two months with a series of restrictions, including a curfew, distance requirements between tables and dressing up. The use of masks is mandatory and harmful to the coffee industry.
After the pandemic, the cost-of-living crisis caused inflation while wages are still among the lowest in Europe, putting a third of the population at risk of poverty.
Mr Enri Jahaj, the Association of Bars and Restaurants representative, informed that many service establishments are leased due to lower capital turnover as owners do not benefit from business continuity. They don’t have a lot of money left to spend, and on the other hand, it’s not easy for business owners to keep a business running. The closure is expected to last from five to five years beyond 2023.
In financial and economic terms, the country’s coffee imports fell in the first six months of the 7% year-on-year increase but remained at a premium compared to the first year of the pandemic in coffee shops. Coffee nationwide.
However, high prices not only jeopardize coffee culture, but mass migration means shortages of workers, including bartenders and waiters, which affects the situation business of stores.