3 million bags of global coffee at risk of being difficult to consume

Published Mar 23, 2022

Tridge summary

The article reports an increase in the global price of Robusta coffee in mid-March 2022, despite the impact of the Russia-Ukraine war, with prices rising by 6.3% to $2,222/ton. This increase is due to decisions by the US Federal Reserve, Central Bank of Brazil, and Bank of England to combat inflation. However, the recovery is not solid due to the war's potential impact on coffee consumption. The war may delay the consumption of approximately 3 million bags of coffee due to Western sanctions. Despite the war's potential impact on Vietnam's coffee exports to Russia, which accounts for 4.2% of the total volume and 4.5% of the total export value, the Import-Export Department does not anticipate a significant impact on Vietnam's coffee exports. However, the war is likely to have a significant impact on transportation activities and global shipping due to Russia and Ukraine providing 275,000 of the 1.9 million seafarers working on commercial ships around the world.

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

Original content

According to the latest news of the Import-Export Department (Ministry of Industry and Trade), despite the impact of the Russia-Ukraine war, the price of Robusta coffee on the global market still increased again in mid-March 2022, after maintaining at a low level in the first days of the month. At the port of Ho Chi Minh City, the price of export Robusta coffee grade 2, 5% black broken rate traded at $2,222/ton, up $132/ton (equivalent to an increase of 6.3%). compared with the beginning of March 2022. Robusta coffee prices showed signs of recovering after the decisions of the US Federal Reserve (FED), the Central Bank of Brazil, and the Bank of England (BoE) to try to contain them. inflationary. However, according to the Import-Export Department, this recovery is not solid. The war between Russia and Ukraine is likely to delay the consumption of about 3 million bags of coffee due to sanctions in the West, despite the International Coffee Organization (ICO) just revised its global ...

Source: Danviet