11/23/2022 The price of arabica coffee increased well, pulling robusta past 1,800 USD/ton
Parameters affecting the price of green coffee beans
– The price difference between 2 floors arabica and robusta 03/23: 82.87 vs 79.29 cts/lb.
– DXY index: 107.03 vs 107.71 points.
– Local currency value of Brazilian Reais (Brl) in USD/Brl pair: 5.36 vs 5.32. The record low of 5.99 Brl was set on May 8, 2020!
– On the closing day of the business, the price of arabica derivative green coffee beans continued to increase strongly, pulling the robusta floor to over $1,800/ton on the basis of March/23. The price gap has risen to nearly 83 cts/lb.
– The value of the US dollar fell sharply, causing the price of commercial goods to increase, gold and crude oil went up, gold price increased slightly but crude oil increased by more than 1.20%. Arabica prices increased by 2.68% while robusta only increased by 0.89%.
– Arabica prices were also boosted by USDA’s downward revision of Colombian coffee production in crop year 2022/23 to only 12.6 million bags or -3.1% compared to the previous forecast of 13 million bags. Colombia is a producer of high-quality, wet-processed Arabica coffee, which contributes a lot to the standard inventory for auction on the New York Stock Exchange.
Source: Vietnam Coffee Cocoa Association