Coffee prices today February 23, 2024: Market dropped sharply

Coffee Drinks
Market & Price Trends
Published Feb 23, 2024

Tridge summary

Global coffee prices saw a significant drop on February 23, 2024, with Robusta prices falling over 2% on the London exchange and Arabica prices also decreasing in New York. This is attributed to increased exports from Vietnam and Brazil, coupled with a strong speculative selling force. Despite the price drop, Vietnam's domestic coffee prices traded around 81,900 - 82,500 VND/kg and the country's coffee exports in January 2024 saw a 67.45% increase compared to the same period last year. The Vietnam Coffee and Cocoa Association (Vicofa) anticipates a favorable year for coffee exports in 2024.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Coffee prices today February 23 around the world Around the world, the London and New York exchanges on February 23 simultaneously decreased. In particular, the price of Robusta on the London exchange for delivery in March 2024 decreased to 78 USD; down to 3,174 USD/ton. And the May 2024 delivery term dropped sharply by 61 USD; at 3,113 USD/ton. On the New York floor, the price of Arabica delivered in March 23, 2024 decreased to 4.95 cents; to 183.15 cents/lb. And the term for delivery on March 23, 2024 decreased by 4.55 cents; at 182.10 cents/lb. World coffee prices today dropped sharply. In particular, Robusta price decreased by more than 2%, after 2 sessions of slight increase. The information about increased exports of Vietnam and Brazil recently, along with the strong selling force of speculation on the floor, pushed the two exchanges down. In the first 3 weeks of February 2024, Brazil exported 127,600 tons, up from 122,400 tons in February 2023. Export figures continued to ...
Source: Agriculture
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