Coffee prices in Vietnam today (November 8, 2023); turning around to decrease sharply

Published 2023년 11월 8일

Tridge summary

On November 8, 2023, coffee prices on the London and New York exchanges decreased significantly due to the strengthening US dollar and pressure from new coffee crops in Vietnam. The price of Robusta on the London exchange for delivery in November 2023 decreased by $64 to $2,358 per ton, while Arabica on the New York floor for December 2023 delivery decreased to 170.75 cents per pound. In the domestic market in Vietnam, coffee prices dropped by up to 800 VND/kg compared to the previous day, reaching a threshold of 56,700 - 57,400 VND/kg. Coffee exports from Vietnam decreased in the third quarter of 2023, except for shipments to Asia and Africa.

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

Original content

Coffee prices today 11/8 in the world In the world, the London and New York exchanges on November 8 turned down. In particular, the price of Robusta on the London exchange for delivery in November 2023 decreased sharply by 64 USD; about 2,358 USD/ton. And the January 2024 delivery term on this exchange decreased by 40 USD; at 2,321 USD/ton. On the New York floor, the price of Arabica delivered in December 2023 decreased to 2.95 cents; down to 170.75 cents/lb. And the March 2024 delivery term decreased by 2.2 cents; at 169.50 cents/lb. World coffee prices today dropped sharply in the context of the recovery of the USD and increasing pressure on new crops from Vietnam. Along with that, the business position of the 2 exchanges is in the overbought zone. The London exchange decreased by the same amount as yesterday's increase, but the domestic market fell deeply. As of the time of the survey, the DXY index measuring fluctuations in the greenback with 6 major currencies (EUR, JPY, GBP, ...

Source: Agriculture