Vietnam: Coffee prices on September 12, 2023, market increased sharply

Published 2023년 9월 12일

Tridge summary

On September 12, 2023, coffee prices increased worldwide, with the Robusta variety seeing a smaller increase compared to Arabica. The rise in prices can be attributed to the weakening of the US dollar and expectations that the Federal Reserve will not raise interest rates. The domestic coffee market in Vietnam also saw an increase, with prices trading around 65,100 - 66,000 VND/kg.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Coffee prices today September 12 around the world Around the world, the London and New York exchanges on September 12 simultaneously increased sharply. In particular, the price of Robusta on the London exchange for delivery in November 2023 increased by 32 USD, to 2,439 USD/ton. And the January 2024 delivery term on this exchange decreased another 36 USD, at 2,347 USD/ton. On the New York floor, the price of Arabica delivered in December 2023 increased sharply by 4.2 cents; to 152.85 cents/lb. And the March 2024 delivery term increased to 4.05 cents; at 153.85 cents/lb. World markets increased sharply after the USD weakened. At dawn, the DXY index was holding around the 104.48 threshold. The USD turned down ahead of US inflation data, with expectations that the Fed will pause interest rate increases at its policy meeting next week. Robusta prices increased but not as strongly as Arabica because capital management funds have bought quite strongly since last week. Today is also the ...

Source: Agriculture