Coffee Prices Today November 17, 2022: Robusta Continues to Plunge

Coffee Prices Today November 17, 2022: The hard-hitting speculators have profited from the expected ample supply as most coffee-producing countries harvest their new crop. Harvest year 2022/2023.

Coffee Prices Today November 17, 2022

At the end of the last session, the price of Robusta coffee in London delivered in January 2023 decreased by 10 USD/ton to 1,792 USD/ton, the price for delivery in March 2023 decreased by 10 USD/ton to 1,778 USD/ton.

Period	Price	Change	% change	Mass	Highest	The shortest	Open door	Open contract
01/23	1792	-10	-0.55 %	5732	1817	1774	1806	55076
03/23	1778	-10	-0.56 %	2810	1806	1763	1795	25205
05/23	1770	-10	-0.56 %	1594	1799	1755	1790	12323
07/23	1767	-9	-0.51 %	432	1797	1753	1791	4414
Unit: USD($)/ Ton | Trading unit: lot = 10 tons

On the New York Stock Exchange, the price of Arabica coffee delivered in December 2022 fell 1.3 cents/lb to 155.45 cents/lb, while the price of arabica coffee delivered in March 2023 fell 1.1 cents/lb. lb to 158.4 cents/pound.

Period	Price	Change	% change	Mass	Highest	The shortest	Open door	Open contract
12/22	155.45	-1.3	-0.83%	7534	159.55	154.3	158.9	8563
03/23	158.4	-1.1	-0.69%	26051	162.25	156.9	161.55	106253
05/23	158.8	-1.5	-0.94%	7273	162.8	157.5	162.3	35152
07/23	159.05	-1.5	-0.93%	2404	163.1	157.8	162.3	16886
Unit: USD Cent/lb | 1USD = 100cent | 1Lb ~= 0.45Kg | Trading unit: lot = 37,500 lb

Again triggered by speculation and net selling of coffee on expectations of ample supply as most coffee-producing countries are currently harvesting the 2022/2023 crop.

The positive point is that on the London floor, Robusta prices increased strongly during the session but at the end of the session still closed at a lower level, breaking the psychological level of 1,781 USD/ton. Brazil sold about 37.51 million bags of coffee of all kinds, accounting for about 65% of production in MY 2022/23, lower than 72% of sales in the previous season, but still higher than the 5-year average of 64 % sold out.

Last crop, Vietnam mainly exported Robusta coffee with 1.5 million tons, turnover of 2.97 billion USD; and Arabica green coffee exported only 60,000 tons, with revenue of 260 million USD; Decaffeinated green coffee 26,000 tons, worth $76.9 million.

Coffee news: Rising costs hurt profits for Italy’s Caffè Borbone

The Italian coffee roaster claims that while pellet sales are still doing well, rising raw material and energy costs have affected earnings in 2022. Despite a 3% increase in sales and a strong coffee capsule and capsule business, the gross operating profit of Caffè Borbone has decreased by 28% this year.

For the first nine months of 2022, the coffee roaster in Napoli declared a profit of 48.2 million euros ($50 million), which is 28% less than it was for the corresponding time in 2021.

The corporation claimed that the increase in home coffee consumption during the pandemic’s easing could be responsible for the decline in revenues. However, this year’s rising expenses for electricity, transportation, and raw materials have further hindered revenues. One of the top manufacturers of coffee in Italy for both compatible and compostable capsules is Caffè Borbone.

According to the company, sales of the single-dose coffee product at large-scale retail have increased and it has moved up to the second position. For the first time, Caffè Borbone is ranked higher than Nestlé, a major Swiss food, and beverage company.

For the third quarter that concluded on September 30, 2022, Caffè Borbone reported sales growth of 2.5%, totaling €58.9 million ($61 million). The company’s sales in the first nine months of 2022 increased by 3% from the same time in 2021 to 192.9 million euros ($201 million).

Source: https://www.worldcoffeeportal.com/

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