Coffee Market Price Today – August 19, 2022:Ending the week’s last trading session, the price of Robusta coffee futures in London delivered in September 2022 decreased by 2 USD/ton to 2,215 USD/ton.
Coffee Market Price Today
Ending the last trading session of the week, the price of Robusta coffee futures in London delivered in September 2022 decreased by 2 USD / ton to 2,215 USD / ton, and the price for November delivery fell by 6 USD / ton to 2,218 USD / ton.
On the New York Stock Exchange, arabica coffee for September delivery fell 2.75 cents/lb to 214.7 cents/lb, while December 2022 delivery fell 2.55 cents/lb 211. 85 cents/pound.
The world coffee market continued to have a third downward correction session. Coffee prices had a negative impact due to increased risk aversion as the Chinese economy is likely to decline further in the wake of the crisis. housing and the ‘zero Covid’ policy continue to weigh on the commodity market.
Coffee stocks on the London floor decreased by 1,910 tons or 1.91% from the previous week at 98,180 tons ( 1,636,334 bags, 60kg bags), while ICE US inventories on the Stock Exchange New York remain at a 23-year low and have yet to see any additions.
Since the beginning of the week, however, stocks of standard Arabica have begun to increase. For this reason, Arabica coffee prices have fallen more than Robusta coffee prices in recent days. Meanwhile, the natural source of goods available in the domestic market of Brazil and Vietnam does not capture much. Wait for the cost to rise before taking steps to export.
Newly released US retail sales data for July, showing a steady rise in personal spending, helped ease market fears that the US would not slip into a recession. 50% forecast a 0.75% increase, making the USD the preferred destination for money flows and manufactured goods. Overall, coffee took a hit on both exchanges and failed to maintain its upward momentum.
Cooks Coffee is planning to list on the London Stock Exchange
Britain’s fourth-largest coffee shop chain, Cooks Coffee, is planning a listing on the London Stock Exchange, providing a bright spot amid the ongoing UK new listing drought. The New Zealand-based company is listed on Wellington’s stock exchange but now plans to move to London’s Aquis exchange.
Cooks Coffee owns the Esquires and Triple Two brands and has 72 branches in the UK.
It also has 15 stores in Ireland and franchise deals in Portugal, the Middle East and Southeast Asia.
The New Zealand-based company is listed on the Wellington stock exchange but plans to go public on London’s Aquis exchange, a competitor to the LSE, in October.
The company’s shares trade at around NZ$0.42 or 22p, with a market cap of around £11.7 million.
Cooks boss Keith Jackson said: “We see significant opportunities for growth in the UK.” For the year to the end of March, the group posted a profit of £0.14 million.